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Published on June 10th, 2013 | by John I.

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A Future Where Phones Can Replace Money

Tired to stay in long queues to pay for an invoice? Are you on the verge of a nervous breakdown when the only map you have available does not help you reach your destination? How many times have you been annoyed because the machine has rejected your crumpled bill? Do you want a solution to avoid queues to easily pay your parking or to get useful information on transportation? Well, NFC (Near Field Communication) seems to be the solution to all these problems.

Becoming more accessible all around the world thanks to smartphones, RIM’s technology for mobile payments allows users, among other things, to complete digital transactions, exchange digital content and interconnect electronic equipment. Another benefit is the number of different developed advanced mobile analytics apps with real time payment tracking and stat platforms. A simple contact with the tag (label) NFC is sufficient, for example, to make payments for goods and services.

The first physical mobile payment in the world took place in 2008, when customers got the possibility to make payments with Maestro PayPass Prepaid without the need for a signature or receipt. Currently, Orange and BRD test NFC technology in order to make mobile payments at any of the more than 10,000 POS terminals installed in different European locations, as well as to convince domestic and foreign retailers to accept virtual payments by MasterCard PayPass. How can I borrow money to cover expensive purchases and home improvements? Can I get a 5000 loan solution for all my expenses? If this is you case, visit www.pickaloan.co.uk to learn more.

The technology developed by RIM has many practical uses. For instance, theater lovers can buy tickets using their mobile phones, pay for soft drinks, purchase goods, but can also learn more about a certain product or service. In schools, where this revolutionary technology has been first implemented, students have access to information about school curriculum – time, homework, quizzes, contests, events. Another technological invention in school is that teachers can now use the app from https://www.classdojo.com/toolkit/noisemeter in order to detect and measure the class noise. Customers of pubs in the UK can learn about the products they consume through contact with the NFC label on their mobile phones.

Gaming enthusiasts can also enjoy the innovation brought by NFC, since this way games become more interactive and dynamic. For example, the Intralot company has developed an innovative Tap’N’Play solution that allows the player to access traditional lottery games, but also latest generation bingo thanks to the embedded NFC system. Tap’N’Play reduce dependence on paper lotteries, as well as the impact on price reductions, and allows players non-stop access to their favorite games regardless of their current location.

Although currently not all smartphone and tablet manufacturers have implemented NFC technology, this technology’s potential is huge in the near future, as it expected to be adopted by all the major players in the commerce market. Time will show how well the retailers fructify this extraordinary opportunity to connect the real world to the virtual one. In addition Loanovao is a loan provider that can help you with your bad credit by Clicking Here.

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What is a cryptocurrency? Is it like bitcoin?

In a word, yes. Bitcoin was the first cryptocurrency, and is still the biggest, but in the eight years since it was created pretenders to the throne have come along.

All of them have the same basic underpinnings: they use a “blockchain”, a shared public record of transactions, to create and track a new type of digital token – one that can only be made and shared according to the agreed-upon rules of the network, whatever they may be. But the flourishing ecosystem has provided a huge amount of variation on top of that.

Some cryptocurrencies, such as Litecoin or Dogecoin, fulfil the same purpose as bitcoin – building a new digital currency – with tweaks to some of the details (making transactions faster, for instance, or ensuring a basic level of inflation).

Others, such as Ethereum or Bat, take the same principle but apply it to a specific purpose: cloud computing or digital advertising in the case of those two.

A bitcoin doesn’t really exist as a concrete physical – or even digital – object. If I have 0.5 bitcoins sitting in my digital wallet, that doesn’t mean there is a corresponding other half sitting somewhere else.

What you really have when you own a bitcoin is the collective agreement of every other computer on the bitcoin network that your bitcoin was legitimately created by a bitcoin “miner”, and then passed on to you through a series of legitimate transactions. If you want to actually own some bitcoin, there are exactly two options: either become a miner (which involves investing a lot of money in computers and electricity bills – probably more than the value of the bitcoin you’ll actually make, unless you’re very smart), or simply buy some bitcoin from someone else using conventional money, typically through a bitcoin exchange such as Coinbase or Bitfinex.

In theory, almost anything that can be done with a computer could, in some way, be rebuilt on a cryptocurrency-based platform. Building a cryptocurrency involves turning a worldwide network of computers into a decentralised platform for data storage and processing – in effect, a giant hive-mind PC (that this no longer sounds like it has much to do with “currencies” is part of the reason some instead suggest the name “decentralised apps” to cover this sector).

In practice, however, the available uses are rather more limited. Bitcoin can be used as a payment system for a few online transactions, and even fewer real-world ones, while other cryptocurrencies are even more juvenile than that. The excitement about the field is focused more on what it could become than what it actually is.

Here is a video that relates todays technology with your plastic money



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