BWT's Virtual Currency Model

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The BWT Virtual Currency Model

Virtual finance: is it a viable alternative to traditional currency or a Ponzi scheme?

Today, when, digital money is facing a barrage of regulatory questions and enforcement action, the question may seem presumptuous. Virtual currency will probably not disappear, it will evolve, become more sophisticated and accepted as a truly viable trading currency.

Identification - The Solution?

At the end of May 2013, US authorities stopped operations in another virtual currency -Liberty Reserve - Having charged the system with a “$6 billion money laundering scheme and operating an unlicensed money transmitting business”.

 

They’ve been charged for enabling “a broad range of online criminal activity, including credit card fraud, identity theft, investment fraud, computer hacking, child pornography, and narcotics trafficking”.

 

On top of that, Liberty Reserve did not require proof of identity for users - It seems that identification is an important issue to solve. The authorities will never accept virtual money that cannot be tracked, or “illicit internet banking” as the Fed call it.

 

The Buy With Thrills Business Method

 

BWT has developed a new business method for commerce and marketing where virtual currency can be used in accordance with the 'identifiable' rule. The method is patentable in key markets (US included), and BWT are in contact with a patent lawyer to secure a patent for Europe.

 

BWT is now raising funds for the development of the platform and IP protection globally. This is a disruptive innovation and a concept that will change the way we all buy and market goods and services. The technology is mature, the answer is bold and the timing perfect.

 

Contact us for more info at info@bwtonline.co.uk

 

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