With the launch of Circle in Spain, we can already send and receive money using blockchain, but what am I talking about?
Surely Bitcoin sounds familiar to you, the virtual currency that allows us to send and receive money without having to go through any intermediary, directly over the Internet; at least virtual money, of course.
The basis of Bitcoin is the blockchain, or blockchain, it is a database that is distributed throughout the network so that everyone can access it and add new data, that is, a new block to the chain. Blocks already written cannot be deleted, and there is no central place to consult the data, since the chain is shared by P2P with all users.
Although Bitcoin uses a blockchain to record its operations, this technology is neither proprietary nor exclusive to virtual currency, and more and more services have discovered its usefulness.
We can already use Circle in Spain
The case of the app launched today in Spain, Circle, we are dealing with a service that allows us to money transfers regardless of the bank we useWhat countries are we from, or even if we use euros, dollars or pounds.
Circle allows us send money easily to any Bitcoin address, instantly and with currency changes, and this has more uses than simply paying for a purchase we have made.
For example, we can send money internationally to our families in other countries, or we can divide an account among friends so that each one contributes a little OR if we are in the US we can do someone pay us in euros and receive the money in dollars immediately, with an exchange rate that oscillate between 0.2% and 0.3% above the market rate.
Of course, we have already seen all this, right? At Circle they think their app is different from the rest for good reason: how social it is. The experience is different from that of any payment app, in the sense that it seems more like a conversation between friends than a transfer.
In fact, Circle is capable of integrate with iMessage in iOS 10 to send money directly from the application.
Is it enough to gain a foothold in the Spanish market? For now we can say that Circle proposes an interesting use of blockchain.
Download Circle for Android
Download Circle for iOS