“At a time when many have lost faith in the global financial system, Bitcoin is being hailed as the future of e-commerce.  ‘It’s lower cost, lower risk and a more accessible form of payment from anything else we have today, especially for shopping online,’ says Tony Gallippi, founder of BitPay, a Bitcoin payment processing service.  ‘Credit cards were designed in the 1950s and were never designed for the Internet. It leads to issues like identity theft and payment fraud.’  Gallippi explains that the virtual peer-to-peer currency was created to be ‘borderless by design,’ thus opening the door to the international marketplace for smaller merchants.”

http://edition.cnn.com/2013/12/10/business/will-bitcoin-replace-paypal/

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