Discover More About Industries Using Bitcoin

 

Bitcoin is growing as is crypto as a whole. In fact, just this week JP Morgan has entered the foray, having dismissed crypto as a scam – speaks volumes doesn’t it? So, what are the businesses at the fore of Bitcoin? Well, let’s take a look.

Remittances?

The best low-hanging fruit regarding Bitcoin is international remittances. There are companies that are now offering something called rebittance which is the same thing but with Bitcoin and they’re doing so while targeting certain countries.

BitPesa was one of the first ones to offer this with cell phone service and they have now even moved into a second country. Abra was among the first to launch rebittance so that it looks identical to the most typical remittance service available and they don’t say anything about Bitcoin. Rebittance.org  lets its users send rebittances to most anywhere by helping them find providers in a particular country that is being targeted.

Streamium Is An Example Of Streaming Payments For Content

Internet users have demonstrated that they have a desire for custom video and they’re even willing to pay for it. Streaming applications such as Periscope and Meerkat are a couple of examples. Topics such as business coaching, lessons in foreign languages and other similar content are having particular success. Some online payment systems are insecure and limited. Bitcoin could be a good fit with its ability to stream payments with content.

It is now possible to participate in a streaming session while sending any amount of Bitcoin to the provider of the streaming video. This can be done literally every second which makes Bitcoin very efficient as a way to pay without involving a middleman to inhibit the transaction.

 

When Is It Expected To Start Working?

Companies like Streamium have it already working but only for a very short period of time and this means that there’s not enough data to understand any type of metrics. If the industry for live cam takes to this technology, then there is a good possibility it will have strong growth and will bring other industries in with it as it grows. If the paparazzi were to adopt this platform it could potentially have overnight success as they could simply sell their streams to whoever bid the highest.

 

BitWasp and OpenBazaar Represent Decentralized Markets

Those attempting to sell fake IDs or drugs will find that many of the decentralized markets won’t be useful for doing so. BitTorrent has a decentralized architecture as well as OpenBazaar that makes it able to sell most things including real estate and even some things that might cost less than a penny. To help you understand this meaning, just try to imagine if companies like Amazon.com had no fees and no types of rules to censor items or selling things across borders. This can be done using the decentralized marketplace as that is specifically what it’s designed for.

 

When Will It Start Working?

In beta right now is OpenBazaar and it’s the current frontrunner.  It’s user interface still needs some polishing but it’s being actively developed.

 

Bitquest And Spells Of Genesis Are Examples Of Video Game Economies

Second Life, Eve’s ISK, and World of Warcraft gold are all good examples of virtual currencies that have no limits on how it can be printed. As you would likely imagine there are some issues when considering having only a few people that have the power to issue currency within those worlds. If there were a game where the character was actually able to earn Bitcoins it would be extremely compelling to play that game.

It is likely that advertisers would fund a game where the Bitcoin Market plays were within a video game economy. People who play such a game have no desire to pay as much as they earn or even to have a chance of earning less than they paid and of course, the developers of the software also want to make money rather than spend it. But advertisers could pay for their advertisements inside the game in part by supplying a stream of Bitcoin into the games that were most popular.

 

When Is That Likely To Begin?

The difficulty with creating video game economies that use Bitcoin is creating a new revenue model to fund it. Some sportsbooks have started doing so, however some have had problems – look at the Bovada payout issues that were apparent recently.

Those who develop these games have to supply their own Bitcoins but that can run out quickly. Those Developers will need to present the idea to advertisers and sponsors and find a way to show those advertisers how it would be worth their investment.

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