Bitcoins have often been in the news for a number of reasons and many times in a negative light. Bitcoins were strongly related to the website Silk Road which was an online ‘deep web’ black market space that sold illegal drugs, firearms, assassinations and more.
However bitcoins have the potential to be a useful form of currency as we move into an age where many are predicting the decline in need for physical cash payments and a move toward contactless payment technology. Bitcoins are not tied to countries or regulations and are useful for international payments. They are easily transferable and can be kept anonymous which is why there has been doubts due to usage in illegal activity.
Coinzone, a Europe-based payment solution provider have recently announced that they will launch a new bitcoin wallet that will support currencies across Europe. The announcement signals the move toward embracing bitcoins as a more mainstream form of currency. Coinzone’s new wallet has been developed in order to address legal and privacy frameworks in operation across Europe.
Manuel Heilmann, who is the CEO and co-founder, told CNN “The Coinzone Wallet will be unique for a number of reasons, both at launch and also looking ahead to the future,”. The new wallet will be available for users wherever they have a web browser. This means that iOS and Android users will be able to manage and authorise bitcoin transactions whilst on the move. Heilmann goes on to say “For launch, our goal is to make it very easy to spend bitcoin. It’s a simple yet very crucial feature that is either missing or not easy to use in other wallets.”.
According to Heilmann the top five most active countries on the Coinzone platform are Germany, France,Spain, Romania and Italy. The initiative has also been launched now in the U.K. and the Czech Republic where growth is increasing. The wallet is available to very diverse range of countries with customer service initially aiming to support English 24/7, German, French, Spanish and Romanian and aim to respond around the clock. When it comes to bitcoins, customers cannot afford to wait until the next day when purchasing or selling.
Coinzone has a broad and comprehensive understanding of the European regulatory landscape. Users of the wallet will be under European privacy laws that means data is securely hosted in European data center locations. Heilmann believes the wallet will give users a hassle free experience that allows them to “transact with confidence” and to utilise “the local language, currency and payment instruments that are relevant to where they live.”.
This announcement signals the constant development in the payments world that seeks to create easier payment transactions for businesses and consumers alike. Creating secure and dependable systems for bitcoins can take the stigma away from the negative connotations that arose from Silk Road.
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