Cryptocurrencies are the talk of the town in recent times, and with evidence that the technology can improve numerous aspects of our lives, Bitcoin can provide a huge number of opportunities to truly influence the way that we behave each and every day. A number of brands have already implemented this particular cryptocurrency, such as Subway and PlayStation, and other opportunities have also been introduced such as Bitcoin gambling through the likes of betking.io and many more. Here, we’re taking a closer look at the different ways that Bitcoin is influencing everyday life, and how the cryptocurrency can ultimately improve the way that we live.
Privacy: Bitcoin has a major influence in the way that we are able to store our data and offers a whole new level of privacy for those who want to protect their identity at all times. Cryptocurrencies not only provide us with a way to store and spend funds, but the technology behind the blockchain could be a new way to store important documents and contracts, in an irreversible and anonymous platform. While the protective measures put in places through cryptocurrencies are not always necessary, the level of trust that these measures build are proving to be extremely popular. Identity theft is almost impossible, meaning cryptocurrencies are exceptionally safe.
Money Storage: The way that we store money on a day to day basis is changing, with more people reverting to debit and credit cards, and online banking as opposed to standard cash and coins. This is where cryptocurrencies come in. The process of buying and spending cryptocurrencies is all carried out online, or via mobile. With millions of people around the world classified as ‘unbanked’, meaning they are unable to access traditional financial institutions for a broad number of reasons, Bitcoin offers a number of different ways to store money, as well as transfer the funds internationally with minimal charges. This can revolutionise the way that we use money, and it is this functionality that has numerous traditional financial institutions worried about the influence of Bitcoin.
Shopping: We have already seen a limited number of shops and brands begin to introduce cryptocurrencies as a payment method, but as the Bitcoin Boom continues on, the number of stores which are integrating this technology is beginning to grow. Subway was a leader in this field, with a select number of stores accepting cryptocurrencies as a payment method for the subs on offer. Alongside this, we have seen a great number of gaming options offer Bitcoin as a transaction method, despite the cryptocurrency not officially being deemed as a ‘currency’ in the majority of countries around the world. However, with some countries implementing regulations in an attempt to legalise the cryptocurrency officially, more stores may become more attracted to Bitcoin. Soon, we could see numerous big brand supermarkets, high street stores and car dealerships accept Bitcoin as a payment method. We’ve even seen a house bought with Bitcoin, so the future is bright for this particular cryptocurrency.