Real-world applications of cryptocurrency revealed
Water-cooler talk about cryptocurrency and blockchain technologies usually includes a tone of excitement and uncertainty.
Experts in the financial industry have come forward as staunch opposers to the new crypto realm. But when it comes to everyday applications of cryptocurrency the future can seem a little less abstract and more concrete.
A study of 2,000 people by lending platform Lendingblock revealed “that most think cryptocurrency is here to stay, with 55% expecting shops and buses to accept it in seven years’ time. Just over 20% of respondents said they either own or have owned cryptocurrency.”
The study shows there is a clear polarization of opinion between the everyday individual and the financial industry.
Another practical use case was announced by Coinbase in late July. They announced that they will begin allowing “cryptocurrency holders to pay for goods and services through brands such as Nike, Tesco, Uber, Google Play.” Though this a real-world application of cryptocurrencies, it is still limited to specific countries.
Many people may not have been aware, but Expedia, the travel behemoth, quietly removed their bitcoin payment option earlier this summer. The company began accepting bitcoin as an early adopter in June 2014. There was speculation to the reason for the abrupt discontinuance, but a fully transparent answer has yet to be known.
As a society, we continue to see applications of cryptocurrency and blockchain technologies. Read our white paper to find out what 7tk Club is doing to disrupt the blockchain realm.