Post
Topic
Board Economics
Re: Apart from trading where else to use crypto?
by
Lucius
on 03/10/2018, 09:57:21 UTC
More than 90% of ICOs (still a wide margin) lack pure utility aside from trading values. Among freelancers, people may trade one crypto for another, but in a brick and mortar business scenario, crypto has little to no impact. For example if I walk into a store I could get the credit card and a few other payment options. Still, with the over abundance of crypto technologies and their native tokens, only a handful of stores have barcodes for bitcoin and a few other payment coin types.

I think we need more radical real world businesses tokenizing their products and using this 'tokenization' as a means to garner support for mainstream crypto adoption. Like rewarding people loyalties for using their products.

Does anyone else here share the same concerns, or do you know a coin that is owned by real businesses for such purposes?

In fact there are many places ( mainly online ), where people can pay with cryptocurrency, but to pay milk and bread in your local store you will need to wait some time. Actually it all depends from country to country, there is places you can pay with crypto by buying coffee, donut or even bread&milk and make haircut maybe. It is important to know we are just at the very beginning in the application of this technology, maybe 1% of world population is using cryptocurrency in one way or another.

Fiat is still main currency, and it will be probably for a long time - big changes do not happen overnight, they may last for decades.