Topic: Netflix Executive Wants Bitcoin as Global Currency, Considers It Cost-Effective (Read 2971 times)

That will be a really good news for bitcoin users that are netflix subscribers if it happens. I love netflix and im a bitcoin user. Now, if they accept bitcoin as payment. It will be more convenient for me because i dont wanna go for any authorized netflix agent to pay for bills. But im sure they will use third party for this. Since other companies using third party also to convert btc to cash. I think that will be their system. But still its a good new to us.

At the Citi Internet, Media & Telecommunications conference, Netflix chief financial officer David Wells expressed his optimism towards Bitcoin, and how it is shaping to become the global currency of most major industries.

According to Market Realist, a prominent investment research establishment which covered the event, Wells stated:

“It sure would be nice to have Bitcoin in terms of a global currency that you could use globally.”

Why Netflix is Interested in Bitcoin

As MR researcher Shirley Pelts explained in a 5-part series entitled “Tools in Netflix's Wheelhouse to Meet International Challenges,” Netflix is actively looking into Bitcoin payments due to increasing cases of fraud and criminal activity revolving around gift and prepaid card payments.

In contrast to many streaming and digital content distribution networks, Netflix has provided both its users and content creators with a wide range of payment options, outside the traditional field of banking and credit card payments.

For instance, users from underbanked countries such as Argentina and India or users under the age of 18 that illegible for bank and credit card applications can purchase a variety of gift cards from physical locations such as gasoline stations and convenience stores to pay for Netflix services.

In June 2015, Libran Research & Consulting and prepaid commerce solution provider CashStar, co-released a study entitled “Gift Cards Through the Eyes of Consumer,” to analyze the ecosystem and industry surrounding gift card distribution.

In its research, the two firms stated that gift card sales surpassed the $129 bln margin in 2015, emphasizing its rapid growth compared to other conventional payment tools including credit and debit card services.

However, like many other financial tools, a rapid increase in growth also relates to an increasing number of fraud cases, due to the emergence of hackers and criminals trying to bypass the system.

Security veteran and cryptography expert, Tony Martin-Vegue wrote in a study that bypassing gift card security and essentially double spending its balance is not a difficult operation and can be completed with fairly shallow knowledge of security.

“This type of fraud is fairly low-level and does not result in a huge loss to the merchant, but is quite a shock to the customer when the recipient of a gift card tries to redeem it and finds that the balance is zero,” cutives/risk-management/gift-card-fraud-how-its-committed-and-why-its-so-lucrative/]stated Martin-Vegue.

As a response, the Netflix financial team and CFO David Wells are looking into Bitcoin, which can be considered as a more practical and cost-efficient alternative to gift cards.

https[Suspicious link removed]cutive-wants-bitcoin-as-global-currency-considers-it-cost-effective

I understand speaking about Bitcoins would gain a lot of traction for the executive, but it's better if Netflix atleast considers implementing Bitcoins as a form of payment since this would enable most of us to pay using it. But I'm sure there will be a lot of clauses in their terms and Content restrictions country wise which could be the reason that they wouldn't want anyone to pay using Bitcoins yet, cause the IP could be masked and identity as well and Bitcoin could aid that, and this wouldn't be something that they'd be happy about.

Finally someone mentioned and admit that standard FIAT payments can be more crooked and problematic that cryptocurrency payments.

This kind of fraud will continue as long as credit card will be used.  Carding is so popular and hard to deal with that bitcoin might be a real solution this time.

Might of taken a bit of time but I am happy to announce https://www.ipayyou.io/ actually sells "Netflix Gift Cards" for Bitcoin.

In the meantime – based on our conversation, we have added Netflix … so you can effectively buy Netflix subscriptions with bitcoin effective immediately!  
Let me know if your audience would be particularly interested in this offer.
Check it out on https://iPayYou.io.
Let me know what you think,

Yes but for now assuming is really not the thing haha we might just end up into false speculations but yeah we will just continue supporting this kind of plans. All we have to do right now is to wait aff.

yeah, this would e good and many of bitcoin users would love it if it happens. and will definitely start spending bitcoin.

i just hope more of these type of popular services start accepting bitcoin in their business so we get more options.

This is  i guess just a speculation but still a thing  for us to consider. I  my self is going to love this thing because i am really a fun of watching latest movies as one of way of releasing a stressful day.

Bitcoin or other crypto payment coins would definitely enable people from emerging markets to make online payments,
as long as there was some sort of service for them to convert their fiat currency to electronic coin.
This will still be a barrier, but it provides a huge opportunity for a company based in some of those areas.

At the Citi Internet, Media & Telecommunications conference, Netflix chief financial officer David Wells expressed his optimism towards Bitcoin, and how it is shaping to become the global currency of most major industries.

According to Market Realist, a prominent investment research establishment which covered the event, Wells stated:

“It sure would be nice to have Bitcoin in terms of a global currency that you could use globally.”

Why Netflix is Interested in Bitcoin

As MR researcher Shirley Pelts explained in a 5-part series entitled “Tools in Netflix's Wheelhouse to Meet International Challenges,” Netflix is actively looking into Bitcoin payments due to increasing cases of fraud and criminal activity revolving around gift and prepaid card payments.

In contrast to many streaming and digital content distribution networks, Netflix has provided both its users and content creators with a wide range of payment options, outside the traditional field of banking and credit card payments.

For instance, users from underbanked countries such as Argentina and India or users under the age of 18 that illegible for bank and credit card applications can purchase a variety of gift cards from physical locations such as gasoline stations and convenience stores to pay for Netflix services.

In June 2015, Libran Research & Consulting and prepaid commerce solution provider CashStar, co-released a study entitled “Gift Cards Through the Eyes of Consumer,” to analyze the ecosystem and industry surrounding gift card distribution.

In its research, the two firms stated that gift card sales surpassed the $129 bln margin in 2015, emphasizing its rapid growth compared to other conventional payment tools including credit and debit card services.

However, like many other financial tools, a rapid increase in growth also relates to an increasing number of fraud cases, due to the emergence of hackers and criminals trying to bypass the system.

Security veteran and cryptography expert, Tony Martin-Vegue wrote in a study that bypassing gift card security and essentially double spending its balance is not a difficult operation and can be completed with fairly shallow knowledge of security.

“This type of fraud is fairly low-level and does not result in a huge loss to the merchant, but is quite a shock to the customer when the recipient of a gift card tries to redeem it and finds that the balance is zero,” cutives/risk-management/gift-card-fraud-how-its-committed-and-why-its-so-lucrative/]stated Martin-Vegue.

As a response, the Netflix financial team and CFO David Wells are looking into Bitcoin, which can be considered as a more practical and cost-efficient alternative to gift cards.

https[Suspicious link removed]cutive-wants-bitcoin-as-global-currency-considers-it-cost-effective