25 May '15, 7pm

Bitcoin Might Be The Next Big Thing In The Remittance Market

Editor’s note: Florian Graillot is a VC investor at AXA Strategic Ventures. Bitcoin’s most disrupting feature is its decentralized architecture. Indeed, bitcoin relies on a P2P network of computers to proceed money transfers. Each part of the network works to create new bitcoins (‘mining’), keep the network alive and validate transactions. All the transactions are registered in the blockchain that is used to validate a transaction using cryptography technology: it ensures that you can’t use a bitcoin you don’t own or you don’t use the same bitcoin more than once. This last action previously required a third party, but with bitcoin this is not the case anymore: the network replaces financial institutions and banks. Then, money transfers are almost in real time as the network is responsible for validating transactions. Currently you need only 10 minutes to get your money tra...

Full article: http://techcrunch.com/2015/05/25/bitcoin-might-be-the-nex...

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