Circle has unveiled itself at Bitcoin Conference during 2014 when there was a vowing done for taking this digital currency to mainstream. The missions
Circle has unveiled itself at Bitcoin Conference during 2014 when there was a vowing done for taking this digital currency to mainstream. The missions has changed when so many startups embraced the big idea around at similar time. Jeremy Allaire who is the CEO of Circle do not like to portray the company as the one dealing with Bitcoin operations but as a new way so that people can trade the dollars with family and friends through the new smartphone app. Circle is going to restrict the purchase and selling of Bitcoin.
Circle according to Allaire is a marquee startup that has got backup from Goldman Sachs and has never seen Bitcoin as the consumer technology. The goal when the company was created was not build Bitcoin company and also compared the idea of Bitcoin to smtp and also http. They wanted to use Bitcoin as the technology to be used behind scenes and never had an idea of bringing that has the digital currency that can come up in mainstream that even a common man can use that for paying for goods that he buys online or even from a physical store. Even when it is used as digital currency, it has never became a mainstream currency even after so many years of it’s birth. Circle has decided to stop working in the form of Bitcoin exchange this not letting this digital currency to be a mainstream currency. There were so many big promises that were given by early adopters of bitcoin currency but it is also affected by regulatory issues as well as tax. There are so many technology issues to that the bitcoin community is dealing with which can hamper the bitcoins to emerge as the mainstream currency at least in the near future.
Circle has really set the points clear that they do not have any idea for making bitcoins to be used by individuals but they are going to make it something that can be used only by larger institutions. The company Circle has decided in all means to move away from using it as digital currency but towards world where it can be used as underpinning financial services.
Circle as well as many other companies feel that Bitcoin can be used for basis with many services and applications. There is an app available for you to trade dollars with family and friends.