We Already See The Disruptive Power Of Cryptocurrencies
When speaking of digital assets non-crypto people often say either that cryptos have no real use or that they benefit only criminals. In both cases, skeptics are wrong because cryptocurrencies are already in our daily routine for better or worse. Therefore, the next time someone asks you why digital tokens matter you can answer by simply outlining the following real-life use cases: Donations Some might say that cryptocurrency traders are selfish on their hunt for crypto wealth but hey it turns out that the average crypto trader is more than willing to donate some his fortune. There are various charity organizations that receive donations in the form of cryptocurrencies. The Pineapple Fund and eatBCH are the first that come to my mind. The first raised and donated over $55 million in 2017 alone, while the latter is currently helping the Venezuelan families struggling with hunger. The coolest thing about cryptos is that you can help without even having a single token or wallet. Some charity campaigns ask donors to mine cryptocurrencies and the results are outstanding. UNICEF and GNation had put these tactics into practice. E-commerce Let’s admit it, it is extremely convenient to conduct microtransactions with digital tokens. Things like subscriptions and small-scale purchases are no longer a pain. Moreover, there are many online stores that already accept crypto payments. The blockchain technology connects directly buyers to sellers, thus omitting any traditional mediators such as banks. Online platforms such as Newegg, OpenBazaar, Wordpress, and Overstock are all integrating cryptocurrency payments. Of course, the black market is a place where cryptocurrencies are quite popular as well. The problem here is that just a few of the tokens offer anonymity, meaning you cannot trust every cryptocurrency for illegal purchases. Finance This might sound counterintuitive to some of you but in fact, cryptocurrencies are getting traction even in the highly conservative world of traditional banks. While this might not be by everyone’s taste it’s true – the gap between fintech startups and banks is not that large anymore. Banks are realizing that blockchain technologies can be their friends and are tirelessly exploring their applications and nature. To make it clearer, household names such as Mastercard, Bank of America, Saudi Arabia’s Central Bank, Goldman Sachs, JP Morgan, MoneyGram, Western Union, and American Express are all dealing with cryptocurrencies in one way or another. Read the full article