With the world’s attention to the cryptocurrency industry only set to increase, it is inevitable that major brands and corporations seek to establish and develop their presence so as to remain relevant. In the future, all businesses would need to adapt to Blockchain technology, similarly to how they had to adapt to the Internet. However, today several major brands are already present and active in the industry.
Blockchain technology and cryptocurrency present many new opportunities for businesses and their relationships with customers. The use and creation of smart contracts, lower transaction fees, no intermediaries, and less regulation are just a few of the advantages which are attracting a host of large, well-established brands.
With its Project Libra, Facebook might eventually succeed in making the use of Blockchain technology mainstream, but the social media giant is far from being the first big brand to join the bandwagon. JP Morgan Chase, Twitter, and some of the top US universities have publically stated their interest in the technology.
IBM is, without a doubt, one of the most established IT companies in the world. For many years the company has been researching ways to be part of the Blockchain revolution, and it recently announced a new payment network which uses stable coins or other cryptocurrencies. Through this network, users will be able to carry out cross-border payments and foreign exchange instantly, at a much lower cost.
This payment network is known as IBM Blockchain World Wire, and it uses the Stellar protocol to offer payments across 70 countries with 47 different currencies.
Blockchain technology is not only useful just for payments. LVMH, the owner of the well-known fashion brand, Louis Vuitton, has invested in a blockchain designed to prove the authenticity of every high-priced good in its stores. This blockchain, code-named AURA, will be used for both Louis Vuitton and Parfums Christian Dior goods at first, but the company aims to extend the technology for use across its over 60 luxury brands.
Through a decentralised and independent blockchain, the company aims to reassure its clients whilst preventing cheap knockoffs. The technology will also facilitate the company’s logistics challenges, by allowing traceability from manufacturer to client.
The element of trust which Blockchain technology brings to an increasingly sceptical market is what brought German car marker, BMW, to invest. Clients who choose to purchase a second-hand vehicle from a dealer sometimes distrust the validity of the car’s mileage. With the price of the vehicle often dependent, in part, to the mileage, there is an incentive to try and tamper with the value in order to raise the vehicle’s selling price.
BMW developed a blockchain-based app, called VerifyCar, in order to independently track a vehicle’s mileage. This information is gathered from leased cars, as these are normally sold-off as second-hand when their mileage skips a certain limit.
Shapeshift is a popular instant cryptocurrency exchange which allows users to trade a variety of cryptocurrencies. As it gained popularity it ended up becoming a victim of its own success, experiencing a rising number of issues and even multiple hacks. Today, Shapeshift has improved its services, yet its reputational damage lingers, with many looking for […]
When you’re an experienced investor who understands the movements of a certain market, you may wish to broaden your horizons and try more advanced trading products. Contracts for Difference (CFDs) could be one such product for you. Working with an online broker, you can trade CFDs in a variety of markets and countries, with a […]
Contracts for Difference, better known as CFDs, are a trading product which is ideal for speculating on financial markets. Best-suited for experienced traders, understanding what CFDs are and how they work can be somewhat confusing. This detailed guide will explain all you need to know about them, and if they are the right trading product […]
Binance is one of the largest cryptocurrencies in the world, offering a range of features at competitive prices. The exchange, which is based in Malta, accepts users from around the world and is a much-loved platform by the crypto community. Binance: An Overview Trading over 100 different cryptocurrencies, Binance can cater to traders looking to […]
Coinbase is one of the world’s largest cryptocurrency exchanges, trusted by millions around the world. It is based in San Francisco, USA, and it is considered to be the largest Bitcoin broker today. Apart from being a traditional centralised exchange, Coinbase encompasses several other cryptocurrency-related services, such as a wallet and developer API. Due to […]
Short selling Bitcoin and other cryptocurrencies is a way to make money when the value of a coin drops. It is an advanced investment option, better suited to experienced traders due to the high risks involved. This guide will show you five different ways to short sell Bitcoin. What Does Short Selling Bitcoin Involve? Short […]
Although cryptocurrencies were first invented by Nakamoto as a way to facilitate payments and get rid of financial intermediaries, they quickly evolved into trading assets due to their high volatility. As a result, asset and forex traders from traditional markets began trading crypto, as a way to turn a profit. While there are many ways […]
The constantly developing cryptocurrency industry is leading to new opportunities for you to make money with Bitcoin. Often likened to the goldrush which hit California in the nineteenth century, Bitcoin has generated some great returns for the more astute amongst its adopters. Today, there are many creative ways to make money with Bitcoin, and you […]