Once Paycoin is brought to the global marketplace it is sure to change our society for the better. Among the things Paycoin will do for the world is help to reduce prices. How will this hefty goal be achieved? The answer is in Paycoin’s design to deliver more secure transactions.
Safer More Secure Transactions
As stated in the Paycoin White Paper, Paycoin transaction fees are designed to be negligible but sufficient to prevent blockchain spamming and attacks. Transactions that send an amount less than the fee amount will be rejected and returned to the sender as invalid.
The Solution to Security Threats
Security is a big issue nowdays. Today in the 21st century, we are constantly faced with cyber security threats,
creating risk each time we make a transaction. This is still an issue in the crypto currency world as well.
Conventional online payments as we know are riskier than most people are aware of. In 2013, there were an
alarming 13.1 million victims of identity theft. This was an increase of .5 million victims in 2012.
What you may not know is that credit card and online fraud costs you way more than you think. The cost for
consumers and merchants is between 2% and 10% per transaction.
Yes, we have certainly hit a historically high number of identity thefts. Not only from an increase in cyber
transactions but a lack of implemented solutions. The good news is, we can change this.
Paycoin is On the Horizon
Cryto currency is the answer! Crypto currency offers alternatives to these methods and even better - lower consumer costs. A crypto currency like Paycoin actually eliminates these transaction fees which saves consumers money. The scope of this is phenomenal. Each year, merchants could save tens of billions of dollars. If merchants are cutting their costs, they are selling at lower prices. So with each purchase you make as a consumer, you are saving money.
Good for Business, Good for Economic Growth
With the state of the U.S. economy, saving money is on most people’s minds today. What some people have been led
to speculate on is whether Paycoin will actually help to further our economy in the United States. Can Paycoin
achieve this? Well, consider how businesses’ reduced costs will influence their prices. Lower costs on their
end will translate to lower costs on the consumer end. As mentioned, this could translate to billions of dollars
a year, saved on loss caused by fraud and security attacks. Talk about a stimulus fund…
Conclusion
Even the most popular cryptocurrencies have yet to be adopted by more than 1% of merchants globally. This is
simply because no other crypto currency besides Paycoin has provided the solutions to meet the demands needed in
the marketplace. Once Paycoin is launched this will change everything. Paycoin also has alot of growing room!
Since we are still in the phase of speculation, the question remains, will Paycoin be adopted by merchants and
consumers? I believe the most logical answer is in the game plan for Paycoin. If Paycoin’s marketing strategy
follows through along with its technical structures it seems to be built for scale and widespread adoption.
This leads to this conclusion: I think we should all be looking forward to the beneficial changes Paycoin will
bring society.
Author: Natalie Johnson
Date: 12/15/14
© Copyright: 2015
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