Traditional digital payment systems, such as
banks and PayPal, depend on third-party
intermediaries to process transactions. This
setup requires users to trust these entities,
which can lead to fraud risks, higher costs, and
the need to share sensitive personal
information.

Bank transfers are often slow and
inefficient due to batch processing, regulatory
oversight, and delays caused by fraud
prevention measures. International transfers
are even more complex, involving intermediary
banks, currency conversions, compliance
checks, and time zone differences, further
increasing costs and delays. These
inefficiencies underscore the appeal of
Bitcoin, which aim to enable direct and trustless peer to peer transactions without intermediaries.

Dr. Mufti Abdur-Rahman Mangera: