It is true that in the recent years, the crypto currency market did have its ups and downs. A recent study by Gallup shows that only 2 percent of investors are currently purchasing Bitcoin or other crypto currencies. however, one in four is intrigued. However, with the current world scenario, the nature of currency and payments are about to change. With the introduction of crypto currency, more and more countries are adopting or at least opening up to the crypto currency system. If you are not yet familiar with the crypto currency system, you should start getting familiar with this as the banking scenario all over the world is slowly but surely changing. Now, the use of crypto currency goes beyond your usual peer to peer payments. Here is how crypto currency is being applied in three ways which is beyond your usual peer to peer payments.
To find the right initiative structure, Loyalty programs have long struggles on their part. According to the censures, the more than half of loyalty memberships in the U.S. are inactive. It also shows that as much as 30% of the Canadian and united stated loyalty users have left loyalty programs without ever redeeming a point or a mile. There is a possibility that the crypto currency can redeem or bring back the royalty users. There are some examples to show that the stores are encouraging the customers to redeem codes for loyalty rewards in the form of digital coins. These can be exchanged within a few months for other digital tokens or even for traditional currency. This means that the customers can actually redeem actual cash or equal value with the crypto currency. Some examples include Caffe Lattesso and EZ Rent-A-Car.
With Crypto currencies other entrepreneurs could look at building a new one around the crypto currency market. This can be done rather than re-invigorate their existing customer base. This way, the investors can start to focus more on building the technological ecosystem around crypto currencies and not solely on initial coin offerings. There is a growing demand for the growing digital currency point-of-sale systems. There is one country where the demand is presently the highest among all. It is South Korea. It is not only the consumers but the vendors who accept crypto currencies who need accounting and reporting software to support their payment method.
Finally, crypto currencies are not only good for exchanging money but also for spending and giving back. The set-it-and-forget-it philanthropy is possible because of this. This is adopted by the co-founder of NASGO. The blockchain makes it possible to program it and giving into the operation itself instead of voicing a commitment to philanthropy. Not just this, creatives are also using this method to make them stand out. There are artists out there who plan to tokenize upcoming musical releases as a way to raise awareness about the system. This method can also be used to make contributions and donate the earnings of some public figure.
As it seem already, crypto currencies have become a staple and more widely used system in the business world. It is only expected to grow even more. The world is surely building up more to the idea of a total crypto currency system. It is already ready to take the bigger steps to break free from the small and irregular payments it is currently investing in crypto money. With more and more awareness among people, the crypto currency is likely to gain more acceptances among the general public.