Which Industries Are Best Placed To Benefit From Cryptocurrencies And The Blockchain?

Image by Gerd Altmann from Pixabay
10 months ago

The last few years have seen cryptocurrency use go mainstream, but there’s still a feeling that much more is yet to come once it reaches more areas of our lives. To better understand how much digital currencies could change our lifestyles, we need to look at the industries that are currently best placed to incorporate them.

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Online Casinos

The way that casinos have gone online has given players a convenient new way of finding slots and classic table games. With offers of a casino bonus for new customers and promotions such as free spins and additional chips, these sites make it easy for newcomers to get started with something extra in their accounts.  Players can then find modern technology such as live streaming to add a twist to well-established games.

Since security and speed are high on the list of the most important issues for casinos, it’s easy to see why cryptocurrencies could be extremely useful in the future. They currently accept fast and reliable payment methods such as the most popular e-wallets and bank cards but being able to accept cryptos or put games on the blockchain would give another layer of security to the process.   

Travel

Travel is another industry with great possibilities in terms of cryptocurrency adoption. This is because the global nature of tokens such as Bitcoin and Ethereum makes them ideal for people who want to spend their cash abroad without the hassle of changing from their local currency to another. The emergence of Bitcoin ATMs across the planet has already made it easy to travel using only this token.

There are also several projects aimed at putting the travel industry on the blockchain. Some of the most interesting projects include travel hubs, loyalty schemes, and monetized travel data. Travel seems like one of the sectors most likely to be revolutionized by the blockchain but it remains to be seen which of these ideas takes off and helps people to travel more comfortably.

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Finance and Banking

We’ve already seen cryptocurrency benefits in terms of how we handle our money now, and it seems certain that there’s more to come in this respect. We´ve become used to moving our money online and with the security of the blockchain with peer-to-peer transactions, but perhaps the big banks are going to add the benefits of the blockchain to how they work too.

Most of the world’s leading banks are looking into ways that they can use the transparency and security of crypto to improve their operations. For example, the JPM Colin was launched in 2020 by JPMorgan but it was never planned to be a token that the public can buy or sell. Instead, the finance giant wants to program coins to follow certain rules and be used for specific purposes.

These aren’t the only industries that we can expect to see get more deeply involved with cryptocurrencies and the blockchain in the next few years, but they’re all worth keeping an eye on since they’re well-placed to incorporate this technology into their business.

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