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Bitcoin

Acquired

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The Evolution of Payment Systems

This chapter explores the transformation of payment systems from traditional banking to modern digital solutions like credit cards and services such as Stripe and PayPal. It highlights the complexities and challenges of credit card systems, consumer debt, and merchant issues, along with the impact of the internet on financial transactions. The chapter concludes with the emergence of Bitcoin as a decentralized solution to the inefficiencies of conventional payment networks.

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