Cryptocurrencies are rapidly becoming irresistible in different sectors across the globe. This is despite the many challenges facing the cryptocurrency market that include high volatility, security risks, and government regulation.
Experts are optimistic that these challenges are typical of any new technology or payment system that is potentially posed to revolutionize finance and business ecosystems.
For players in the virtual currency industry, the entry of corporate entities marks a shift from the speculation that has driven the cryptocurrency industry in the past.
Big companies are beginning to show interest in cryptocurrencies and blockchain. Just recently, Amazon and Starbucks expressed interest in integrating blockchain and cryptocurrency in their payment systems.
The World’s first Loyalty and Rewards Tokenizer Retainly, Founder Palash Bagchi, “For such big consumer-centric players, the most effective use of Blockchain is on the Loyalty and Rewards program. It will also be a major trust factor for the world to believe in the blockchain.”
As leading companies in e-commerce and coffee, two retailers operate worldwide and have millions of customers. If they decide to incorporate cryptocurrency and blockchain in their corporate models, there is a high chance that most of their customers will start appreciating and using virtual currencies. They will also have more confidence in the cryptocurrency and blockchain sectors because corporate companies are putting them to use.
The interest Amazon and Starbucks have in virtual currencies affirms the fact that cryptocurrency and blockchain are the future of doing business. The day these companies announced their plans to integrate cryptocurrency and blockchain, they closed business on a high note – an indicator the news was received positively by the market. These industries are rapidly becoming mainstream and no company is ready to remain behind.