REFLETS MAGAZINE - Revue d'information et de réflexion économique - n°100 - Démo - (Page 66)

Avis d’expert Bit Coin Virtual currencies : taking out the middleman E-commerce is booming, growing at around 20 % per year according to a recent report. But despite these changes in our consumption behavior, most online payments are still made with the good-old credit card, a technology that hasn’t much evolved in decades. Consumers are familiar to this technology and tend to forget some of the drawbacks to the credit card, not least the fees and privacy issues. So is it time to explore new payment options ? E nter digital currencies. Although they’re not entirely new, digital currencies have been on the rise in recent years – and in particular since the arrival of the Bitcoin in 2009. Indeed, Bitcoins and other digital currencies resolve some of the drawbacks of using traditional currencies or credit cards. In the wake of financial and economic crises, many announced that the Bitcoin could revolutionize the financial landscape or even one day replace the dollar. That said, while signs are encouraging, marketing professor Ashwin Malshe believes that their time to « take over the world » hasn’t quite yet arrived. So what are some of the benefits of using a digital currency and what’s holding them back ? The up side : saving on transaction fees « One of the clear benefits of digital currencies is that they help both companies and clients save money », he explains. « For companies using virtual currency, they take out the credit card company middleman : they no longer need to pay a fee every time a customer uses a credit card and they can easily pass this savings onto the customer. » « Currency exchanges can also cost companies – pay an employee in a virtual currency and they won’t need to worry about losing a cut every time a check 66 changes hands. Facebook is already using its digital currency to pay its developers. » Closed corporate ecosystem currencies, like Facebook Credits – whose value is decided by the company –, are starting multiply. After Facebook’s success with the technology, Amazon launched the Amazon Coin just last month, to positive reviews. And according to professor Malshe, adoption is easier in this environment because clients are already fairly familiar with the system : similar systems like air miles and loyalty points have already been around for years. And the Bitcoin – the most popular, floating cryptocurrency, which acts much like a traditional currency – is also growing in popularity, particularly amongst small businesses : saving on transaction costs can make a big difference to their bottom line. So if digital currencies are helping everyone save money, what’s holding them back ? « Above all, traditional monetary entities like credit card companies and banks are going to be major obstacles to the scaling up of digital currencies », says professor Malshe. « They’re standing in the way of change and they won’t be easy to convince. » The down side : volatility With corporate virtual currencies, corporations N° 100 - juillet/août 2013

Table des matières de la publication REFLETS MAGAZINE - Revue d'information et de réflexion économique - n°100 - Démo

Couverture
Editorial
Sommaire
SPECIAL 100
ACTU
Nomination
Les mardis
IMHI
Mannheim-Essec
40 ans à Cergy
Sport universitaire
Dîner des fondateurs
Tremplin entreprises
Fondation
Cercle diplomatique
Chambre de commerce France-Canada
Medef
Sport
Ranking
Galop d'essai à Auteuil
Mouvements
FOCUS
On en parle : vu dans les médias
Entrepreneur
Brésil
Spécial n° 100 Avant/Après : entrepreneurs un jour...
Les dessous de Solendro
Simone et Georges
Spécial n°100 Avant/Après : voyage
5 étoiles... Aux Champs-Elysées !
A lire
Coin du chasseur
L'INVITE : Pierre TAPIE
DOSSIER : GRANDES ECOLES - ET DEMAIN ?
Grandes écoles
Internationalization
E-learning
Budget et financement
Managerialization of education
Ranking
MAGAZINE Le camping, accélérateur d'entrepreneurs
AVIS D'EXPERTS
Innovation : impression 3D
Bit coin
Droit
VIE DES ENTREPRISES (dossier publi-rédactionnel)
RESEAU
GSVC
Ecole
Chaire
Entrepreneur : création d'entrepise
Entrepreneur : RSE& DD
Asso
Humanitaire
Sport
Culture
Orientation et carrière
Culture
Nouvelles technologies
Promo
Pro
International
Carnet

REFLETS MAGAZINE - Revue d'information et de réflexion économique - n°100 - Démo

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