Source: Bitcoin Mittelmeerlandschaft” (CC BY-SA 2.0) by zcopley
The digital currency from the mysterious inventor Satoshi Nakamato is taking the world by storm. In a few short years bitcoin has shot to worldwide fame, and reached its highest price ever of over $2,200 for the first time this year. Businesses are finding that offering bitcoin as a payment option is proving lucrative, and the cryptocurrency is making a huge difference to a number of sectors including iGaming, music, and retail.
iGaming
With the vast amount of online casinos to choose from, players need guarantees that the operators are reputable. Some players may not like to give their credit card details out to lesser-known iGaming sites, so operators that offer more secure methods of payment are attracting these customers. Sites that accept bitcoin payments are now flourishing because they are safe and secure, they provide bitcoin users with a place to gamble, and they can also be played from anywhere in the world. In addition to all that, there are specialist games designed to be used with the e-currency. But what is the best bitcoin casino? Probably the one that offers as much variety as possible, and with over 600 games on offer BitCasino.io has to be up there.
Music
The existence and continued running of bitcoin depends on complex blockchain technology which basically records every single transaction ever made in a sequence. Now people in the music industry are hoping to put that technology to use in an effort to make sure that artists and producers are credited and paid for their work. The problem is that nowadays artists often don’t get a cent from plays on YouTube, and don’t receive much from Spotify either. Benji Rogers, the founder of dotBlockchain, wants to solve this problem by applying a distributed ledger system to music. He wants to replace mp3 with a new system that incorporates the music along with all the information connected to it including licencing restrictions, terms of use, and rights’ holder details. If this succeeds then it could see an end to illegal streaming of other media such as film as well.
Retail
One of the reasons that bitcoin is becoming so well known the world over is because some major companies have begun to accept the e-currency. Places like Starbucks are even offering customers discounts if they use their bitcoin wallets, which will help more people buy into the currency. The reason why they are doing this is because bitcoin payments are simpler than taking cash or credit cards, and can be done in a matter of seconds. There are also no additional charges with the e-currency, a saving that can be passed onto customers. Although bitcoin is mainly designed to be an internet currency, it wouldn’t be surprising to see more and more shops and retailers offer the choice to pay with it in store.
Businesses have to look at the success of bitcoin and the advantages of using it and seriously think about getting on the bandwagon sooner rather than later. Those that don’t may soon get left behind as the exceptional e-currency continues to sweep the world.
