To properly explain the Billion Coin (TBC), we have to first
explain the terms crytocurrency and Bitcoin. According to https://en.wikipedia.org/ ,
a cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using
cryptography to secure the transactions and to control the creation of
additional units of the currency. Cryptocurrencies
are a subset
of alternative currencies, or specifically of digital currencies.
In 2009, shortly after the collapse of Lehman Brothers and while
debates were ongoing around the world on how to save the global banking system
from total collapse, the first cryptocurrency, Bitcoin was introduced on the
internet. Bitcoin has a number of advantages over paper currencies. First of
all the Bitcoin economy is not debt based; they are transferred directly person
to person without going through any bank; therefore the transaction fees are
very low; you can use them in every country, so Bitcoin is truly global; the
account cannot be censored, ceased or frozen; there are no arbitrary limits on
the account; Bitcoin transactions are extremely fast. Bitcoin is highly divisible
– the minimum unit is one over 100 Million; that is 0.00 000 001 unit!
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