In this digital world, it’s no wonder that cryptocurrencies are making folks exciting. As it is decentralized, anonymous and electric, it has got the potential to change the world. More interestingly, the usage of digital asset is beyond the finance sector. Cryptocurrency is being used in different and unique Ways, here are some unique ways:
Wealth management: It is one of the most exclusive ways where cryptocurrency can be used. Cryptocurrency optimism and embrace will only be sustained if new entrants in the market are able to easily participate. Crypto asset management tools offer traders of all skill levels a simple and more centralized location to manage their investments, and thus a clearer pathway to entering the ecosystem.
Digital business engagement: Digital publishers and advertisers are scrambling to search out ways to extend their connectedness with each other. Nowadays, traditional banner ads that have virtually nothing to do with an editorial are merely ineffective with users. To repair the irrelevance drawback, SolidOpinion has introduced a brand new sort of pay-per-article advertising where advertisers can pay for valuable ad assets simply above a relevant article that a target audience member is consuming on a publishing website. This technology utilizes a proprietary sort of cryptocurrency, Engagement Token, to fuel engagement. Each publishers and audience members can earn tokens by commenting and publishing original content, and advertisers get tokens to pick out their ad placements among relevant articles.
Ethical business practices: As new and exciting technologies and business prospects arise within the blue ocean blockchain space, young and knowledgeable investors alike are jumping towards opportunitiess to take advantage of potentially life changing gains. Over this rage is a blurred vision for the alignment of values and ethics. Cryptocurrency can also be used to encourage moral business practices. As a result of which, blockchain makes it possible to track each transaction with complete transparency, businesses with a record of human rights abuses.
Battling electoral fraud: Another ethical application of digital currency will be its ability to help battle electoral fraud Crypto can be used to help battle electoral fraud, and it’s already in the works. Democracy Earth is a non-profit that’s designing an app to combine voting with blockchain technology. The founds say that with cryptocurrency, electoral fraud, or any other kind of corruption involving money will no longer be possible. Since, blockchain is incorruptible no one can modify or subvert how the votes are stored, and that’s important for democracy.
De-corrupting charities: The adoption of E-coin will make sure that transactions are secure, as a mode of payment for a project permits the identification of each user of the money, unlike with traditional modes of payment like notes and coins. Though preferred cryptocurrencies, like bitcoin, are anonymous and only use a key to spot a user, it’s possible to incorporate personal data, like the ID number, and create the cryptocurrency non-anonymous. The utilization of digital multicurrency additionally permits for instant transactions and borderless transfer-of-ownership, which reduces transaction time and value, since monetary intermediaries don’t seem to be required.
Cryptocurrency can be used to avoid corruption in charitable organizations. Cryptocurrency and blockchain could help to prevent fraud and corruptions, cut back the costs of enforcement because of easily accessible data and quicker crosschecks, and help supervise implementation and monitor efficiency and effectiveness of paying. That’s why the World Food Programme (WFP) is using blockchain to firmly distribute money help to the hungry.
Going Green: Creating an independent project within the crypto and the blockchain space is the initiative in encouraging further innovation and disruption within the renewables sector. Blockchain is the backbone of the world’s booming digital currency craze, which is slowly snatching the traditional dollar bill.
The energy needed for mining cryptocurrencies is critical, and most of the recent mining farms are using electricity from non-renewable greenhouse gas emitting sources. Cryptocurrency, backed by the blockchain, is one of the most important innovations in today’s history, and is simply getting started.
Travel: Cryptocurrencies were considered a market for investment purposes. Nowadays, people are watching to see which consumer markets will implement crypto payments as part of the payment choices.
Apart from investing, people are also paying for travel industry. Folks are using cryptocurrency to checkout, rather than using cards like Visa, Mastercard, American Express, Diners and PayPal.
Certainly there are travel companies receiving cryptocurrency payments for quite some time now. It seems that Bitcoin is the main cybercash accepted in the travel industry. As Bitcoin is the most acceptable by retailers, people are going to have the chance to use them for a huge number of transactions. For Example, Cheapair.com, a travel agency where people can purchase flights, hotels, car rentals and cruises, has been accepting Bitcoin since 2013.
Education: Many colleges are accepting cryptocurrencies as a form of payment. Consistent with Futurism.com, universities in Switzerland, Germany, Cyprus and the U.S. have begun to accept Bitcoin as payment. This type of payment will certainly grow as this currency becomes more and more widespread.
Fund-raising: Several startups are currently using cryptocurrencies so as to fund their ideas, services and merchandise. Instead of using traditional VC funding, or using fund-raising websites like IndieGoGo or Kickstarter, startup leaders are trying to cryptocurrency as a way to boost money for what they need. As a result of it is easy to track and acquire money this manner, it’s revolutionizing the whole fund-raising process.
As it can be seen that there are plenty of ways that cryptocurrency is changing every single aspect of people’s lives. As cryptocurrencies gain popularity in the business world and in daily lives, that will revolutionize the whole world.