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Goin Once these parties start thinking of bitcoin as a new transac-
Going mainstreamg mainstream
Once these parties start thinking of bitcoin as a new transac-
tion processing network, the ideas and uses are limitless."
tion processing network, the ideas and uses are limitless."
With the future of digital currencies at stake, there is much th the future of digital currencies at stake, there is much
Wi
speculation about future integration of bitcoin with the e integration of bitcoin with the
speculation about futur Rianda suggested that in the end there will likely be con-
Rianda suggested that in the end there will likely be con-
e
existing payments industry infrastructure. "If merchants xisting payments industry infrastructure. "If merchants solidation of virtual currency players as additional layers
solidation of virtual currency players as additional layers
adopt a holistic approach to network security, there is no holistic approach to network security, there is no of bureaucracy and regulation become evident at both the
adopt a
of bureaucracy and regulation become evident at both the
reason why alternative currency transactions could not be eason why alternative currency transactions could not be state and federal level. For more information on bitcoins,
r
state and federal level. For more information on bitcoins,
conducted," said Simon Gamble, President North America onducted," said Simon Gamble, President North America see "Bitcoin - viable currency or flash in the pan? The Green
c
see "Bitcoin - viable currency or flash in the pan? The Green
for Mako Networks Ltd. He added that a properly con-or Mako Networks Ltd. He added that a properly con- Sheet, by Patti Murphy, Aug. 26, 2013, issue 13:08:02.
f
Sheet, by Patti Murphy, Aug. 26, 2013, issue 13:08:02.
f
figured and secured network should permit any type of igured and secured network should permit any type of
Payments industry y
p
payment device or method to be used.ayment device or method to be used. Payments industr
"
"Once payments enter a network – whether credit, debit Once payments enter a network – whether credit, debit
mental ones and zeros as any other digital information," Inc. 500/5000
mental ones and zeros as any other digital information," Inc. 500/5000
or bitcoins – it's
or bitcoins – it's just 'data' composed of the same funda-just 'data' composed of the same funda-
winners
Gamble noted. "Granted, transaction data
Gamble noted. "Granted, transaction data has a higher has a higher
v
value, but the fundamental principles are the same."alue, but the fundamental principles are the same." winners
There are also other hurdles to overcome. "The difficulty in
There are also other hurdles to overcome. "The difficulty in
ashville, Tenn.-based Value Payment Systems hville, Tenn.-based Value Payment Systems
implementing alternative currencies lies not in securing these as
implementing alternative currencies lies not in securing these
LLC earned the top spot among 44 payments he top spot among 44 payments
transactions types, but in assigning them real value with mer-
transactions types, but in assigning them real value with mer- N LLC earned t
industry companies named to the 2013 Inc. y companies named to the 2013 Inc.
industr
chants, banks and financial institutions," Gamble said.
chants, banks and financial institutions," Gamble said. N 500/5000 list of fastest-growing private com-500/5000 list of fastest-growing private com-
panies in the United States. Rankings were determined anies in the United States. Rankings were determined
And without stability, there is instability. "Bitcoin is still too
And without stability, there is instability. "Bitcoin is still too p
b
volatile for the public to embrace it in their everyday lives," based on percentage of revenue growth from 2009 to 2012. ased on percentage of revenue growth from 2009 to 2012.
volatile for the public to embrace it in their everyday lives,"
C
Arthur said. "However, its potential as a new payment offer- Capturing the No. 7 position on the Inc. 500 list, VPS post-apturing the No. 7 position on the Inc. 500 list, VPS post-
Arthur said. "However, its potential as a new payment offer-
ed three-year sales growth of 17,404 percent and generated d three-year sales growth of 17,404 percent and generated
ing for acquirers, banks or processors should be considered.
ing for acquirers, banks or processors should be considered. e
$
$25.5 million in 2012 revenue.25.5 million in 2012 revenue.

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