“America may have already missed the boat and failed to gain dominance in this burgeoning industry.  Anthony Gallippi, the founder of U.S-based bitcoin payment processor BitPay believes the U.S. must embrace this new technology. Gallippi added that bitcoin was a cheaper, faster, and more secure payment system than credit cards. He said it could help combat the identity fraud that last year claimed over 12 million victims. Gallippi also stated it would nullify the threat of payment fraud, which cost businesses over $20 billion per year.  The price of bitcoin skyrocketed to the $900 level on Monday but there is no disguising that America is now playing catch up.”

http://www.cnbc.com/id/101213531

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