By Jieying Ding
Bitcoin is in
its nascent stage in Middle Eastern countries where most people are still trying to grasp the concept of Bitcoin,
but some businessmen in the region have begun to accept Bitcoin as payment, reported
by the Newsbtc. The importance and timing of the new trend is interesting because
the U.S. dollar is being slowly nudged out as the standard currency for
international trade. The Chinese yuan and the Russian ruble are two strong
contenders. The U.S. dollar, in the eyes of Middle Eastern countries, represents
aggression and destabilization to the region. Using bitcoin in petroleum trade
sounds intriguing; yet the viability remains questionable.
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