How do Business Sharks Apply Crypto?
The rise of cryptocurrencies has brought about a significant change in the business world. From finance to technology, several companies have begun investing in cryptocurrencies as a tool to grow their businesses. What opportunities do these technologies open up for famous companies? What problems and risks arise when implementing cryptocurrencies? Let’s answer all these questions one by one!
Why do Companies Invest in Cryptocurrencies?
The recent surge in the popularity of cryptocurrencies can be attributed to their decentralized nature. This makes them less vulnerable to government regulation and less prone to inflation. For businesses, cryptocurrencies provide an opportunity to enter new markets and transact with customers around the world without the limitations of traditional payment systems. In addition, cryptocurrencies are an excellent tool for protecting companies' assets from fiat devaluation.
Top companies that break crypto barriers
The trend of opening cryptocurrency portals in business is picked up by many companies. We’ve compiled a list of business sharks who have already succeeded in this difficult task and brought their field to a new level.
Tesla 🏎
Electric car maker Tesla made headlines instantly when it invested $1.5 billion in Bitcoin in February 2021. In addition, the company announced that it will accept payments in cryptocurrencies, making its auto industry the first bright example of the introduction of crypto in this area. Tesla CEO Elon Musk has openly stated that this is the future and constantly made a fuss with his tweets around various currencies, such as Dogecoin.
Undoubtedly, there was also a wave of hate. People did not accept the fact that a company that is engaged in environmentally friendly electric vehicles supports Blockchain technology and Mining, which causes environmental harm to nature due to high energy consumption.
Microsoft 🖥
Microsoft, the software giant, has also been involved in experiments with Blockchain technology. In 2019, the company announced Azure Blockchain, a platform that allows businesses to build and deploy their Blockchain applications. Microsoft's US-patented software describes a registry-independent method that can help users create tokens and maintain them across multiple networks.
Apple 🍏
Apple has not made significant investments in cryptocurrencies but has gradually explored the potential of this technology. A few years ago, the company filed a patent for a secure and efficient time stamping system to protect medical records, financial transactions, and other sensitive data. With regard to Apple Pay, as in the case of Google Pay, the company has made it possible to pay for goods and services using a Coinbase card.
Although Apple took a step back by banning cryptocurrency mining on the iPhone and buying cryptocurrency with the Apple Card. This caused a wave of hate, even scandals with Epic Games and the game Fortnite, leading to a rather inconvenient system for buying certain goods.
Google 🔍
The most famous search engine, Google, has developed some solutions to improve supply chain management, digital identity verification, data storage, and digital advertising transparency. In addition, Google has launched Blockchain ETL, a tool to extract data from the Ethereum Blockchain, and has invested in cool Blockchain startups like Chain and Digital Asset.
Amazon 🛒
In the summer of 2021, there were rumors that Amazon would start accepting Bitcoin as a currency, but a company representative denied this, adding that his team is only ready to explore it for now. However, the excitement around the company did not stop, because there is other information.
Amazon is recruiting a lot of digital currency and blockchain specialists and has already launched Amazon Coins, which cost $4.75 per 500 coins. All this means only one thing - you'll most likely be able to pay with crypto for any Amazon goods!
In addition to these bright examples of business giants, there are many more huge companies that introduce cryptocurrency technologies into their business. Among them are MasterCard, Warner Music Group, Samsung, American Express, LG, Tencent, PayPal, Alphabet, BlackRock, etc.
How will this affect the use of crypto?
It is easy to guess that if so many famous companies introduce Blockchain technologies and cryptocurrencies into circulation, this will become the standard in the near future. The giants will be followed by the whole world, from the USA to Asia. Therefore, we have to prepare for these changes and look for the most interesting ways to make money in the crypto world.