It was in 2009 when the first cryptocurrency, Bitcoin, was launched and since then, the world hasn’t been the same. Initially, people were hesitant to try out something they couldn’t really understand but times have indeed changed.
What seemed to be an absurd idea is now being considered by several industries to keep up with the trends and keep their customer base. Consumers are now open to using cryptocurrencies for transactions and it could just be a new world currency.
Human Resources Industry
There’s no denying that the ultimate resource the world has is humans. Without manpower, industries wouldn’t exist – not even AI. That’s why the best human resources are rewarded for their valuable efforts.
Currently, this industry is exploring a different way of incentivizing and recognizing the efforts of the best employees. With the rising potential of cryptocurrencies, employees can expect to be rewarded with tokens and coins in the office place.
Obviously, this is a great way to motivate employees to perform better – the better the performance, the more coins, and tokens. Consequently, with a better performing workforce, industries will most likely boom and everybody benefits from it.
Who knows, it might even become the main currency to compensate employees for their work.
Entertainment Industry
This industry has always been open to change, given that they need to adapt to the trends to satisfy the needs of the consumers. So, it’s no big surprise that cryptocurrency is being explored.
In fact, an up-and-coming reality show has already made its move and used cryptocurrency in its business model. Fight to Fame has its own token which allows fans and viewers to purchase passes to exclusive events – find out more right here.
Not only that, artists are looking into using cryptocurrency to make fans more engaged with them. Using cryptocurrency, fans are able to invest in their works like film and music – giving them a sense of ownership while helping out their favorite artists.
Retail Industry
Being one of the busiest industries, it’s bound to become a little bit inconvenient at times.
For consumers, the ease of experience and prices are major factors and cryptocurrency might just be able to help with that. This industry has a lot of middlemen which add to cost and delays in transactions – leading to customer dissatisfaction.
By using cryptocurrency, consumers are assured that their transactions are secure and protected from fraud – especially for high-value purchases. Not to mention, prices are significantly lower because of its peer-to-peer system, removing the need for middlemen.
Not only will transactions be convenient and more affordable, but sellers will become even more reliable knowing that cryptocurrency generally protects them from fraud.
E-Sports Industry
It’s probably expected of this industry to use cryptocurrency because duh – it’s the gaming industry. But previous transactions have always used national currencies.
Now that cryptocurrencies are momentum, it’s impossible for gamers to miss out. Using this currency, they are able to exchange their assets in real-time without compromising their security and convenience.
As they progress with their games, tokens can be earned easily for their benefits and transactions can be done securely. No need for middlemen or meet-ups, just one click, and the exchange can be done immediately.
Cryptocurrency has come a long way and the future is only looking brighter. These industries have yet to establish cryptocurrency in their operations but one thing’s for sure, security and convenience will be the main reasons why these industries push through with their plans.
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