The report envisions a wide range of potential uses for bitcoin technology to improve the region’s oil trade, stating:
“Revamping the payment system in line with bitcoin systems will yield in savings in terms of cost, time and paperwork involved. Alternatively the same payment method could be adopted for fund transfers among the GCC regions as well as the whole of [the] Middle East.”
Topic: Middle East Investment Bank: Bitcoin Could Ignite Regional E-Commerce (Read 1395 times)
July 21, 2014, 12:36:53 AM
July 20, 2014, 09:16:48 PM
I really wish one of those things takes off. Bitcoin either needs large amounts of wealth being parked in it (savings, long term holdings) or large sums of money being transacted with the help of it. If there are large amounts of oil being traded with the help of bitcoin, the demand for it, be it only as a trading instrument, rises significantly.
It has great potential for any commodity that ships over seas. Fees for cross border payments are very high. A stable low cost alternative is a good thing.
Well, that being said, Bitcoin isn't especially stable as of now. Granted, we're currently on a sideways trend again, but even under these rather
stable' circumstances, we face fluctuations of about 1% daily. Also, the volume first needs to grow further.
July 20, 2014, 09:09:25 PM
research BRICS aswell.. as it could lead to removing the dollar as reserve currency
http://www.youtube.com/watch?v=98V5u6Gnv30
http://www.youtube.com/watch?v=98V5u6Gnv30
I don't think bitcoin can remove dollar as official currency, but BRICS can and then bitcoin should jump in value. (well.. if it is not closed by someone before :-)
July 20, 2014, 05:24:49 PM
I really wish one of those things takes off. Bitcoin either needs large amounts of wealth being parked in it (savings, long term holdings) or large sums of money being transacted with the help of it. If there are large amounts of oil being traded with the help of bitcoin, the demand for it, be it only as a trading instrument, rises significantly.
It has great potential for any commodity that ships over seas. Fees for cross border payments are very high. A stable low cost alternative is a good thing.
Well, that being said, Bitcoin isn't especially stable as of now. Granted, we're currently on a sideways trend again, but even under these rather
stable' circumstances, we face fluctuations of about 1% daily. Also, the volume first needs to grow further.
July 20, 2014, 04:51:14 PM
I really wish one of those things takes off. Bitcoin either needs large amounts of wealth being parked in it (savings, long term holdings) or large sums of money being transacted with the help of it. If there are large amounts of oil being traded with the help of bitcoin, the demand for it, be it only as a trading instrument, rises significantly.
It has great potential for any commodity that ships over seas. Fees for cross border payments are very high. A stable low cost alternative is a good thing.
July 20, 2014, 11:16:47 AM
I really wish one of those things takes off. Bitcoin either needs large amounts of wealth being parked in it (savings, long term holdings) or large sums of money being transacted with the help of it. If there are large amounts of oil being traded with the help of bitcoin, the demand for it, be it only as a trading instrument, rises significantly.
July 20, 2014, 11:12:47 AM
Oil for Btc. It will happen.
July 20, 2014, 04:15:25 AM
research BRICS aswell.. as it could lead to removing the dollar as reserve currency
http://www.youtube.com/watch?v=98V5u6Gnv30
http://www.youtube.com/watch?v=98V5u6Gnv30
July 20, 2014, 03:57:39 AM
Any links to official report?
June 26, 2014, 09:57:47 AM
Kuwait-based investment banking and asset management firm Kuwait Financial Centre, also known as Markaz, has published a new report on bitcoin in which it heralds digital currency as a disruptive technology that could help ignite the region’s e-commerce industry.
http://www.ahametals.com/middle-east-investment-bank-bitcoin-ignite-regional-e-commerce/
http://www.ahametals.com/middle-east-investment-bank-bitcoin-ignite-regional-e-commerce/
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