Bitcoin Global News (BGN)
October 11, 2018 -- ADVFN Crypto NewsWire -- In every case, we
caution you, as investors or simply as parties who are interested
in the Blockchain and Crypto spaces, to make sure to differentiate
between true journalism about industry projects and sponsored
pieces.
This case is no exception, though it bears
mentioning in an unbiased fashion for a very specific reason. One
Blockchain company appears to be trying to rival PayPal, at least
over the long term.
The press release, on the subject, which you can
easily view with the link above, begins by mentioning a problem
that any of you with any experience in the Cryptocurrency space
have heard before.
Crypto is not easy to spend. It is not pegged to
everyday items on a scale that it anywhere close to where
traditional currencies currently stand.
Even though CNBC claims that in 2017, $190.2
million was spent in Bitcoin on real items, think about how much we
as a global society spend on everyday things in fiat currencies,
even on a daily basis.
The answer is, in a simple sense, much more than
this.
Backing up this assertion that Crypto prices for
everyday items just do not match up is a study that was published
by the Bank of Netherlands in February of this year, which
indicates that only 2% of all online retail sellers accepted
Crypto.
Because of all of this, it would seem logical that
a solution with the aim of turning Crypto’s status as a currency in
a more positive direction, truly has a place in the
world.
That is where UTrust comes in, which is in the
company with the goal of changing the world in this respect. In
general, Utrust is a company that wants to provide APIs to
individual investors and merchants alike, which will make the
entire experience of transacting and investing in Crypto less
risky, in terms of market volatility.
Cointelegraph’s claim that UTrust is trying
to rival PayPal, related to their merchant API, which says that it
will basically free merchants of all risks related to accepting
Cryptocurrencies for payments.
Due to one particular fact about what it does,
however, it does appear that Cointelegraph’s press release is
somewhat misleading. On Utrust’s landing page, they literally
mention that every payment received using their merchant API is
instantly converted back to fiat.
Therefore, in the end, the solution barely
involves Crypto directly, at all, which is why we caution you
against such sponsored content. Even so, due to the fact that for
now, transacting fiat is less risky than doing so in Crypto, this
could be a step in the right direction towards more adoption from
previously reticent parties.
By: BGN Editorial Staff