As a world’s leading translation and localization service provider, we know that cryptocurrencies and blockchain technology can bring us great benefits, whether through faster payments to translators or more efficient translation systems. With the global potential of blockchain technology, new opportunities are emerging. Instead of limiting ourselves to localizing, we’re embracing the evolving technology and the opportunities it offers for the global economy.
Cryptocurrencies like Bitcoin and Ether are the most talked about topics in virtually every business today. This new technology that’s poised to change the way money and institutions work may seem scary at first glance, but its benefits cannot be overlooked.
Blockchain is a method used by cryptocurrencies like Bitcoin and Ethereum to regulate transactions the way a bank would oversee transactions involving real money. The blockchain is a public ledger that records every Bitcoin transaction, with each block indicating a new transaction in chronological order.
Multiple copies of each blockchain are downloaded to each node (a computer connected to the entire network), and these versions are automatically updated with each new transaction.
Benefits of using Bitcoin and Ethereum for transactions.
Blockchain systems are gaining traction in a variety of industries, from insurance and banking to technology startups, but especially in industries that trade internationally and in many currencies.
A Bitcoin system would enable faster payments to freelancers and clients in other countries for language services business. Since internet blockchain technology makes banks and their procedures obsolete, transactions could be processed in minutes instead of days.
At DYS Translations, we’ve been accepting payments in Bitcoin and Ethereum since 2017. The reason for this is that it’s one of the safest methods to conduct transactions. One of the main reasons for using this system is that it eliminates the need for a middleman and allows us to work directly with our clients.
Not only is the use of cryptocurrencies quick and easy, but the costs are exceptionally low (about 0.2 percent of the total transaction value).
Transactions are processed quickly.
Cryptocurrency is an exceptionally fast means of transferring money; it’s much faster than normal payment methods and only takes a few minutes.
It’s easy to use
Paying with Bitcoin or Ethereum is easy: you just need a cryptocurrency wallet and our cryptocurrency address to complete the transaction.
Since the records in the blockchain are managed by automatically updated nodes rather than a central database, the legitimacy of the records can be verified by the community computers that store copies of the blockchain. To ensure the integrity of the blocks, each block contains the information from the blocks that preceded it and is encrypted to ensure that the data is unassailable. This greatly reduces the risk of duplicate transactions and data breaches.
As cryptocurrencies change the way we do business, more and more people are getting used to paying with cryptocurrencies. Don’t lose out on digital transformation and all its benefits if you wait too long.