A Payment System For All: Can Bitcoin Really Deliver This Vision?

Best In

Trending Tokens

Earn

Telegram

Newsletter

As the world’s original and best-known cryptocurrency, this question might sound strange to you. However, many industry watchers believe that the first blockchain-created coin, which was supposed to revolutionize the way we all pay for goods and services, has developed into something it was never intended to be. And rather than us using it for all of our personal and business transactions, somewhere along the way, Bitcoin became an asset or commodity to be traded, similar to gold or platinum.

Academic studies show that people rarely use Bitcoin for making any, let alone regular payments. And, incredibly, if everyone did start using Bitcoin to make payments on a regular basis, the platform would struggle and possibly collapse due to the overwhelming demand. A lack of use means the platform hasn’t kept up with technological changes or paid any attention to market trends. Why should it? People will keep buying coins and not using them for anything anyway, right? Therefore, Bitcoin is a victim of its own success in this sense. 

The competition 

According to crypto visionary and founder of PLCU coin, Alex Reinhardt,

“its high environmental costs and inefficiency mean that unfortunately, Bitcoin is no longer fit for purpose.” He also stated that “Bitcoin’s vision was to be a quick, safe and convenient way for everyone to make financial transactions outside the banking system. Today, it has become an asset and hasn’t lived up to its promises. PLCU coin is everything Bitcoin promised us it would be and more”. 

 PLCU coin and others challenge Bitcoin’s dominance and public perception of what a cryptocurrency can deliver. Where most new coins copy Bitcoin’s lead and strive to become a valuable asset that sits unused in an investor’s wallet, PLCU has changed the landscape by creating an entire crypto ecosystem that works like its own mini economy. And, unlike most coins, which increase and decrease in value as Bitcoin rises and falls – PLCU’s cryptosystem is entirely independent of Bitcoin’s influence and, therefore, less affected by market ups and downs.

A greener coin

One area where PLCU coin and Bitcoin differ most is how the coins themselves are created. For years now, environmental campaigners and world governments have criticized Bitcoin’s mining process due to its enormous, country-sized appetite for electricity that has been proven to be harming the planet. And in a similar way to smoking in bars and restaurants might have been acceptable in the past, mining is no longer acceptable to the general public, and they are demanding change. Instead of mining, PLCU introduced a more efficient and greener way of producing new coins, minting.

This process doesn’t require thousands of computer processors and more cables than the Golden Gate bridge; all that’s needed to mint new PLCU coins is a smartphone. There are no six-digit electricity bills to pay for and no tree-hugging aunty telling you that you’re killing the planet to worry about. These coins are created in a newer and more environmentally-friendly process called farming. A smart contract is concluded between the user and PLCU to freeze an agreed amount of the user’s coins inside the user’s wallet. Then, after an agreed amount of time passes, the new coins are generated, and the user is financially rewarded for contributing to the process automatically.

Bigger and better

Minting is just one of the many ways the PLCU community can earn an income within the company’s ecosystem. PLCU wants to help its already million-plus community across 120 countries worldwide make the most of every opportunity available to them. They created a vast marketplace called PlatinDeal, where the community can buy and sell products or services. Also, it’s easy to start a business here, and, of course, it’s the PLCU coin everyone uses to pay for transactions, which contributes to the growth and value of the coin. And there is also a crowdfunding platform called PlatinHero, where users can invest in new businesses, network and share ideas.

PLCU wants to merge the crypto world with the real world, and to facilitate this; the company has created its own crypto debit card that can be used in both. The card has an easy-to-use dashboard that allows users to switch between fiat, PLCU coin and other cryptocurrencies, including Litecoin, USDT and, incredibly, Bitcoin. With this innovative card, you can pay for gas or a meal at your favorite restaurant in dollars or pay for that awesome new Tesla you really wanted in crypto. 

By providing its community with plenty of ways to earn and simplifying how payments are made, PLCU’s vision of what a cryptocurrency should be is gaining ground, with more and more users attracted to the platform every day. PLCU has taken Bitcoin’s vision, improved upon it, and turned it into something bigger and better. Today, not only is PLCU a reliable payment system, it has created a stable platform filled with new experiences and opportunities like its much anticipated and soon-to-launch metaverse.

So far, PLCU has delivered on many of its plans, and continues to work hard on implementing the others. As for Bitcoin delivering on its promises, I wouldn’t hold my breath if I were you.

Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Next Story