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Bitcoin (Benefits (low cost remittances ($ 432 billion in 2015, $484…
Bitcoin
Benefits
speed especially internationally
low cost remittances
$ 432 billion in 2015
$484 billion in 2018
increased privacy
low cost for businesses
No contract with banks
Combat poverty
poor infrastructered
no payment services competitors
Protocols
SHA256
ECDSA
Asymmetric encryption
Public Key
Private key
Legality
Middle
India
China
Japan
Against
Russia
Bolivia
Ecuador
Pro
UK
US
Australia
Germany
Canada
Competitors
Western Union
Money gramm
M-PESA
Double spending
SHA256
ECDSA
Drawbacks
Illegal purposes
fraud
money laundering
drugs
high volatility
Businesses
Customers