How Virtual Credit Cards Really Solve the “Privacy” Problem?

  • by
How Virtual Credit Cards Really Solve the "Privacy" Problem?

During the economic crisis of 2008, when thousands of Americans lost their jobs and homes, a Japanese man named “Satoshi Nakamoto” invented a financial system that disrupts the traditional payment system, an anonymous, completely transparent system that does not require intermediaries and is completely decentralized.

Generation of Privacy

In 2014, when cryptocurrencies were an obscure concept, David and Jason began their research into the field. Despite the ups and downs in the price of the cryptocurrency market, there’s no denying its advantages. You can transfer money to anyone in the world in an instant using the most secure payment system in the world. Transferring payments and resolving transaction disputes are the areas where blockchain can be most advantageous, and sending money through blockchain is a great way to put an end to transaction The plague of fraud and other malicious payment practices.

The two co-founders were addicted to blockchain technology, they didn’t want to go the traditional route and indulge in mining for bitcoins, instead, they used blockchain technology for financial payments and thus the virtual card was born.

The Best of Both Worlds Solution

David said, “Even with an internet-connected super mini-computer in my pocket, paying online is still a bad experience!” “You always have to enter a 16-digit card number when paying online, which is very insecure. So I need to radically change the way I pay with traditional credit cards!”

When we say “privacy”, mobile apps with a simple design and minimalist content are the most popular, with a clear “trial” message. Text buttons are always quick to catch people’s attention. Like a regular credit card, our virtual credit card earns money from merchant transaction transfers. Unlike regular credit cards, we don’t sell your personal information or charge interest. Once you’ve registered your account and topped up your funds, you’re ready to go, and it’s easy to get so caught up in the perfect user experience that it’s easy to forget that it’s actually A security service.

Once you have opened a new card, you will immediately be anonymized and authorized through the settings, allowing you to control the merchant’s deductions from your account! How much amount. Let’s say you’re subscribing to a one-month trial of an app, you have full control over whether or not you’ll still be able to have the merchant deduct the amount after the trial expires.

The future of payments

Although we are more like the primates in the forest than we think we are, frankly, one element of separation is that we Incredible evolutionary catalysts, we believe in the power of fictional stories. There is nothing more powerful than money, and in 6000 B.C., when the Mesopotamian plains began to be traded for things, followed by the It was the Phoenicians, and the simplicity of the system outweighed the time spent on each exchange. By 1100 B.C., China began to equip itself with weapons and tools that needed to be exchanged for bronze. Over time, this rudimentary form of currency evolved into a round coin, which is used to this day.

The currency itself has no value, and banknotes are usually made up of 75% linen and 25% cotton paper and are printed with green, red, black Ink tinted and printed with a unique identification code. The value of each banknote is verified by the buyer and seller during the transaction. As we move from cash bills to credit cards, to mobile payments, and even over to virtual cryptocurrencies, this contractual trust It’s enhanced as time retires. We no longer need to actually see the bill to believe it exists.

But on the other hand, as our own assets have grown, it has become easier for malicious attackers to get hold of our property. In 1000 B.C., anyone wishing to gain access to the king’s wealth had to pass through twelve heavily armed guards and an angry Hounds. But now, hackers have the technology to look at millions of credit card details in a matter of minutes. In 2017 alone, more than 14 million credit card details were leaked online, resulting in $905 million in fraud losses. While cryptocurrencies eliminate these concerns, we still need to plan ahead, and virtual cards are a great solution!

Leave a Reply

Your email address will not be published. Required fields are marked *