Most people think that e-commerce is about people buying and selling stuff online with their credits card. This is wrong.

There is another method of buying and selling online which is surprisingly common, and this second method is likely to become increasingly common in the times to come. In this second method you execute a purchase an order through a 'digital' currency rather than a credit card.

The E-Currency Payment Process

Let's suppose some guy in Taiwan is selling table sets over the Internet and a woman in Montreal decides she wants one of his tables. The Montreal woman's first task is to convert her dollars into a 'digital' currency.

She therefore must first contact a 'Market Maker'.

The Market Maker's role is take Montreal Lady's credit card, money order or bank account information, verify that she is making a legitimate transfer, then take those funds and convert them to a "digital" currency.

Once this is done, the Market Maker looks to transfer these digital funds over to an 'e-currency' company. In order to make the transfer however, Montreal Lady must open up an account with the 'e-currency' company (for which there never seems to be a charge).

When the funds are transferred to Montreal Lady's e-currency account, she then transfers the digital currency over to the account of our friend in Taiwan. In other words, Taiwan Guy must have an account set up with the same e-currency company in which Montreal Lady has established her account.

The money has now changed hands, and Taiwan Guy can either leave it in his e-currency account or forward it somewhere else, usually to his bank account. The money is his.

Sounds a lot harder than just paying with the plastic, doesn't it?

It is.

And yes, it's more time consuming. In the US, for example, simply getting your money out of the bank and over to the Market Maker can take days.

The reason why paying through this method takes time is primarily about security. In order to complete the conversion process, the Market Maker must know that Montreal Lady's funds are legitimate, and they must know this because the e-currency company must be 100% assured that their digital currency accounts are truly funded by real money (no grace periods where they extend the benefit of the doubt until the clerical dust settles).

At the bank-governmental level, there is also the concern of protecting against money laundering and the funding of terrorism. Once money is converted to its digital counterpart, it can be used anywhere, for virtually any purpose. Considering all of the hassles, why would a vendor like Taiwan Guy want to accept e-currency payments? For one thing, he might not be eligible to accept credit card payments and/or his prospective clients might not have a credit card. Sure, accepting checks from the other side of the planet would work, but many prospects would rather put up with paying via e-currency as the preferred alternative. But let us suppose that Taiwan Guy is not a nice person. Once Montreal Lady's money is in his e-currency account, he just keeps it rather than send off the table set, as promised.

In this situation Montreal Lady has no recourse. Typically, an e-currency company will not intervene in this situation, that is, once a client transfers her money over to another account holder within that same company, the transfer is deemed final.

Fortunately, some e-currency companies offer 'escrow' protection, whereby the transfer doesn't take place until Montreal Lady has received her goods as promised. But what if Montreal Lady turns out to be the bad guy, taking Taiwan Guy's table without ever acknowledging receipt?

DxInOne : The E-Currency Solution?

Fortunately, a player is emerging in the e-currency market who seeks to remove all of these inconveniences. That player is known as DxInOne and it seeks to establish itself as a digital currency provider as well as an escrow agent and a broker for e-currency companies of good repute.

The DxInOne business model relies on the funding of its members to provide faster transaction processing. DxInOne "Merchants" enter the process by setting in place a certain amount of digital funds which represent the financial backing that e-currency companies require. Montreal Lady's money is then sent to such a Merchant-member who passes on on her funds to another DxInOne member, Taiwan Guy in our example.

In the DxInOne model, the transaction is much quicker in theory because the funding is already in place. Montreal Lady must simply wait for as long as it takes the Merchant to get notification of the pending order, then pass it on to Taiwan Guy. Thankfully, DxInOne has a system in place which rewards those Merchants who do this quickly - for which they receive a handsome commission - while punishing those Merchants who move too slowly.

For escrow protection DxInOne is very proactive. Should Montreal Lady or Taiwan Guy turn out to be a villian, they impose the transaction. Likewise, our "villians" stand to lose their membership in DxInOne for such bad conduct and with that all of the greater convenience it offers.

These two factors, far greater liquidity and oversight represent two of the pillars on which DxInOne seeks to gain market share and eventual domination of the entire e-currency industry. But DxInOne hopes that its 3rd pillar will close the deal. In production are watches which activate upon the successful scanning of an iris. The Merchant will be able to leave his computer and receive instant notice of an order from literally any location. By submitting themselves to an obligatory scan, information is then encoded into bits and bytes then compared against the over ten thousand character password that was generated from the Merchant's original scan, when he was awarded the watch in the first place.

The DxInOne Merchant will, by definition, have the funding in place for any transaction he is asked to execute - allowing for instant execution. With commissions hovering around ten percent for a speedy transfer, he will want to take a moment to hit a few buttons on his watch and thereby complete the order, be it for $25 or $25,000.

Wisely, DxInOne intends to patent their watch technology which should mean that it can't be copied by anyone for at least seven years. This will give it a huge advantage over all other players in an industry which is so inconvenient given today's general expectations that it may be regarded as downright backward, despite its enormous size. (Can you say billions or trillions of dollars a year?).

As DxInOne (who has almost completed their first 5-Star Hotel-Casino) looks to increase its market share of the e-currency business, it is widely assumed that they will do so with ever-increasing speed as the corporate world wakes up to the fact that there's an e-currency company that offers the speed and security that they require. Bolstering this further is the fact that as DxInOne grows, so will its level of Merchant-member funding.

A lovely vision of Amazon or Ebay-ish proportions, but not one without some very real growing pains.

In Closing

As a DxInOne investor, I believe in the company's vision and have no doubt that it intends to do what it claims it hopes to accomplish. However, there are certain problems with DxInOne that, not surprisingly, don't find their way into the sales sheets of the various web sites promoting courses on the company.

That's right, courses. Unfortunately, DxInOne's way of explaining their system is, in the eyes of many people, seen as seriously lacking. This has given birth to a spin-off industry where people are selling courses to teach you how to 'do' DxInOne. These can cost up to several hundreds of dollars, if not more.

In some cases these programs are good if not better, but others are bad, if not worse. When they are, the misinformation can be as thick as Heinz ketchup. Because of the precarious nature of the DxInOne course 'cottage' industry and the dollars involved, it is essential that prospective buyer be given fuller disclosure as to what's really going on with DxInOne.

At my web site I have sought to clear some of the air in this. And the fact is, you can learn the entire DxInOne system for no charge. If you come to my web page at www.surfatmy.com/dx101.html, I will gladly show you how.

Expect it to take 10 to 20 hours to get up to speed, paid course or not. And I do believe it is something well worth learning.

Sylvester Suedonym Surf At My dot Com http://www.surfatmy.com/dx101.html



About the author:

Sylvester is the proud owner of the fledging WebPage "Surf At My dot Com" - http://www.surfatmy.com - a site dedicated to presenting interesting and unique opportunities on the web. Please contact for possible Link Exchange.