How global e-Commerce giants are adopting Bitcoin and other cryptocurrency as a fully viable payment method, and the trend is growing to become much more than just a fad of the 21st century.
Remember when orange became the new black? Well cryptocurrency might just be filling some very big shoes sooner than we know it. Yes, cash is king and the mighty USD is still ranking up there as one of the highest ranking currencies in recent Forex markets. But technology and the internet of things is quickly revolutionizing how we process online payments on mainstream sites and platforms.
Gone are the days when digital coins were an obscure and strange species that seemed like a far-fetched vision of payment in the future. Today, there’s an ongoing buzz in news sites, on television, blogs and forums worldwide about the possibility of e-commerce giants and mainstream sites and platforms, like Alibaba for example, considering the launch of their own digital coin. While some of these discussions start and end with just that, a buzz that fizzles out, (like in Alibaba’s case), a range of global online platforms and vendors are exploring the possibility of using cryptocurrency as a legitimate payment method for online shopping, services and mainstream markets. And to the surprise of many, huge brands are already jumping on the Bitcoin wagon.
Forbes recently published their article “How Crypto Can Work For E-Commerce Businesses,” and the advantages are clear. When Pizza Net, the online division of Pizza Hut, once launched credit card payments in 1994, they benchmarked standards for online food vendors’ payment methods, started a domino effect in their niche market, and monopolized it. Turns out Bitcoin’s heading in the same direction, as big brand names from a range of industries are now accepting Bitcoin as a viable payment method, like Subway – yes, now you can buy your Bitcoin and eat it too. Sites like Expedia.ca, the massive global travel site, are in good company with Virgin Galactic, a venture that includes Virgin Mobile and Virgin Airline under its umbrella, all of which are accepting Bitcoin payment. And if that’s not enough to make you wonder if you should have purchased a few Bitcoin before it started to boom, rest assured it probably would have been a worthwhile investment with Microsoft and Overstock.com, and yes, Pizza Hut, now accepting Bitcoin, some directly, and others through various online platforms that cooperate with such online vendors.
So next time you take a hungry bite out of your slice of veggie pizza with extra cheese, take a little bite out of your Bitcoin and enjoy paying for your dinner with a cryptocurrency that’s revolutionizing and redefining how we make, spend and trade funds.