Austria gets its first bitcoin digital currency “bank”

589dd18fc3618857678b45f8

 

https://www.rt.com/business/376977-austria-first-bitcoin-bank/

The world’s first dedicated bitcoin bank has opened in the center of the Austrian capital Vienna. It is designed to make buying and selling bitcoin easier and safer than other in-person options.

The digital currency outlet is owned and managed by a local Blockchain startup Bit Trust and is named simply ‘Bitcoin-Bank.’

The ATM machines exchange bitcoin for euro, and vice versa. Customers can also get information about the virtual currency.

Managing Director of Bit Trust Magdalena Isbrandt told state broadcaster ORF the advantages of digital currency is that transactions “are simply much faster and can be done without a middleman.”

She added that “value and money can be sent straight from user to user.”

To receive a bitcoin, a user must have a special address which looks like a string of 27-34 letters and numbers and acts as a kind of virtual postbox to and from which the cryptocurrency is sent.

Since bitcoin addresses are not registered, that makes the whole transaction process anonymous.

According to Andreas Petersson from Bitcoin Austria, anonymity is the main advantage of using digital currency. “If I pay online with bitcoin, I have a degree of privacy. The vendor does not have my credit card number,” he said as cited by The Local Austria.

“If I pay for purely digital goods, like computer games, I have a much better feeling as I’m not handing over all my private data,” Petersson added.

———

follow the money..

“The world’s first dedicated bitcoin bank has opened in the center of the Austrian capital Vienna. It is designed to make buying and selling bitcoin easier and safer than other in-person options.”

401

Advertisements

~ by seeker401 on February 17, 2017.

4 Responses to “Austria gets its first bitcoin digital currency “bank””

  1. Reblogged this on World Peace Forum.

  2. ” Instant transactions and cashless gameplay
    • Introducing Event cards for an exciting game
    • Property values rise and fall
    • Tap technology makes the game fast and fun
    • Bank cards track players’ wealth”

    http://www.hasbro.com/en-us/product/monopoly-game-ultimate-banking-edition:292A13F3-5056-9047-F5EC-64DBA290A02B
    Monopoly game now is cashless with other tech features

    • (sorry if this was already posted)

      This article from last year (2016), makes the cashless system sound grand and wonderful. Even the ‘evil’ bankers will be kept at bay in this games utopia, families will not fight anymore, and all due to removing that nasty human influence (robots anybody!):

      “Hasbro has released a new edition of Monopoly called Ultimate Banking, that should help keep familial infighting to a minimum. Instead of paper money, which can easily be laundered or stolen when you aren’t looking, this new edition uses debit cards. It also does away with the easily-corrupted Banker position, replacing the human with an electronic card reader (aka an ATM). Removing the human influence should certainly help keep the financial shenanigans to a minimum — just hold on to those debit cards.”
      https://www.engadget.com/2016/02/15/monopoly-money-is-no-more-in-the-new-ultimate-banking-edition/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: