Bit Coin : Future Currency

Now a days, online funds transfer becomes so common. Everyone is using this facility and Indian Economy is moving towards cashless economy. Even a street hawker is using online modes for accepting payments from his clients. But all these transactions are governed by Reserve Bank of India to avoid any kind of fraud. These online modes are feasible within a country. What happens, if client has to make payments outside the country? Then person has to go to bank and fill some forms and get the transaction done. These cross border transactions are governed by RBI and is not easy as normal transactions. Bit coins provide for making payments online and these payments are hassle free. Bit coins are facilitating peer to peer transactions without passing through a financial institution. Bit coins are not authorized by any financial institution in India as RBI does not hold any responsibility for Bit Coins as a legal tender for making payments. Bit coins are basically are the virtual currencies which are widely used over the internet for making payments. Now a days, online funds transfer becomes so common. Everyone is using this facility and Indian Economy is moving towards cashless economy. Even a street hawker is using online modes for accepting payments from his clients. But all these transactions are governed by Reserve Bank of India to avoid any kind of fraud. These online modes are feasible within a country. What happens, if client has to make payments outside the country? Then person has to go to bank and fill some forms and get the transaction done. These cross border transactions are governed by RBI and is not easy as normal transactions. Bit coins provide for making payments online and these payments are hassle free. Bit coins are facilitating peer to peer transactions without passing through a financial institution. Bit coins are not authorized by any financial institution in India as RBI does not hold any responsibility for Bit Coins as a legal tender for making payments. Bit coins are basically are the virtual currencies which are widely used over the internet for making payments.