Satoshi Nakamoto had a clear vision when he released his white paper and outlined a decentralized tamper-proof payments network which facilitates hundreds of millions of transactions with hundred gigabytes of bandwidth usage per day and looks like we are taking steps closer to that vision with each passing day. Customers of Xero cloud-based accounting platform are now at liberty to make payments with bitcoin thanks to companies partnership with Veem. This is a second accountancy software group that has now partnered with the bitcoin-powered global payments giant.
Veem Helping Small Businesses To Conduct Cheap Cross-Border Payments Via Bitcoin
Veem is a bitcoin-powered global payments start up that has set their business model as helping small businesses and companies to conduct cheap & quick cross-border payments. Thanks to the upgrade, Xero users can now conveniently create a new bill and pay it with bitcoin which will automatically move records to the reconciliation report with a Veem payment ID. Besides manually creating bills there will be a feature that will allow you to set up automatic payments and have the software to take care of everything when the time is right. We are living in some interesting times and the blockchain technology is sure adding some extra sauce to the mix. Veem secured its initial $24 million U.S. Dollar funding through an initial coin offering and has now become a payment railway to more than 60 countries worldwide while using bitcoin as their main mediator. CEO's official statement towards adding Veem to their platform was that this will speed up reconciliation reports even further due to eliminating double entries for international payments and simplifying reconciliation.
QuickBooks First Cloud-based Platform To Partner With Veem
From these actions, one could believe that the executives at Veem sure believe in the power of cloud-based accounting and have clearly been able to prove bitcoin's power when it comes to how fast and cheap you can perform international cross-border payments. This year in June, Veem partnered up with QuickBooks by essentially implementing the exact same features to their platform while allowing users to perform and set up automatic bitcoin payments. The blockchain technology is unifying our globe by eliminating borders while bringing us decentralized lightning fast payments and Veem is paving the way for how it is done!