OPINION: Bitcoin and mobile payments: Don’t get your hopes up

Monday, March 17, 2014

Before there were cell phones, there was the dream. You know the dream, the dream of techno-optimists everywhere: Get rid of the wallet. Make money electronic. Get rid of those inconvenient technologies like cash and credit cards, and put it all on your phone. Pay by punching a key on your phone. Like in Japan! And cut out a few middlemen while we’re at it. Admit it, we’ve all fantasized about it.

With the smartphone era, the dream of the the mobile payment network really took off. And now, it looks like another recent technology might help to bring us closer to that dream: Bitcoin.

The potential of Bitcoin as a mobile payments network isn’t fanciful.

Source: CITE World (link opens in a new window)

digital payments, mobile finance, remittances