#1 Source for BlockChain News

Category archive

digital currencies

Mainstream adoption

Cryptocurrency Mainstream Adoption | Is Ebay the Answer?

Are we on the verge of mainstream adoption for digital currencies? The list of companies accepting payment in Bitcoin is steadily growing and now one of the biggest e-commerce sites is hinting at joining that list. Global e-retailing giant, Ebay, has stirred rumors via its latest promotional adverts.

Let’s check this out.

Mainstream Adoption – Ebay to Support Digital Assets?

At the Consensus conference in New York, Ebay’s banners suggested the company is about to enter the cryptocurrency space.

In a photo leaked on Telegram channel @PatronsOfTheMoon, the two banners read the following:

“Virtual Currency. it’s happening on Ebay”.

And:

“Reach 179 million active buyers in the world’s largest marketplace”

The photos have caused a stir, because if eBay is readying support for virtual currencies then it would be a major breakthrough for mainstream adoption. Bitcoin would be opened up to a network of potentially 180 million buyers.

Captured by @PatronsOfTheMoon

But don’t get too excited just yet. The company has yet to confirm that the posters are legitimate and hasn’t made any official statement regarding its cryptocurrency plans.

Other Mainstream Adoption

Ebay isn’t the only major brand hinting at mainstream adoption. Elsewhere, a new initiative is aiming to make big name retailers such as Crate and Barrel, Nordstrom, and Amazon’s Whole Foods, accept Bitcoin and three other types of digital currency.

The initiative comes from a partnership between payments startup, Flexa, and Gemini crypto-exchange. The pair have created a cryptocurrency payments app called Spedn.

The app is already active and works by “piggy-backing on the digital scanners that many big retailers use to accept phone-based payments from their apps and from digital wallets like Apple Pay”.

>>uBUCK Technologies Announces Strategic Partnership With U.S. Prepaid Platform PreWay

The partnership has asked various major retailers to “configure their scanners to recognize payments” from the Spedn app. Then a customer simply pays with the app and the merchant will receive a real-time payment in the form of the customers choosing—either cryptocurreny of dollars.

The app holds support for Bitcoin, Bitcoin Cash, Ethereum and, the Gemini Dollar stablecoin. Currently, the app is still under experiment by the retailers that are using it. As such, it remains to be seen if it will be a success.

The volatility of Bitcoin and the risk of hacking, has always been a major issue that has culled mainstream involvement. But might Spedn work? What do you think? Is mainstream adoption on the horizon?

Featured Image: Deposit Photos/hello.artmagination.com

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Crypto Second Half of 2018

Crypto Second Half of 2018: Investors were not pleased with the first half of 2018. While some focused on the S&P 500 (it’s up 1% YTD, instead of the usual 3.5%), others focused on cryptocurrencies.

In particular, investors watched Bitcoin, which notched up a 16- fold increase in 2017, only to drop by 55% between the start of 2018 and June 27th. 

Now, as of July 1, we are in the second half of 2018. Which means if things are going to change, now is the time to get going. But what if things change for the worse? Some speculate this might happen in the cryptocurrency industry. 

Crypto Second Half of 2018: Placing Bets 

A number of predictions have been made for crypto in the second half of 2018. From more regulation to more comments from Wall Street veterans, there is a lot of stuff up in the air about crypto Q2 2018. 

In this article, we’ll look at 3 specific crypto second half of 2018 predictions.

1: More Crypto Regulation 

Crypto regulation has been discussed on multiple occasions, and even though progress has been made, more needs to be done.

As a result, we should expect to see the Department of Justice (DOJ) increase its crackdown on illegal activity. 

2: More Guidance from the SEC

Moreover, the SEC is expected to provide more guidance on initial coin offerings (ICOs). This is important, as ICOs continue to garner more mainstream attention.

The reason we need more information is that many remain unclear about ICOs. Are they revolutionary, like some have said? Or, are they just another Ponzi Scheme, which has also been claimed? 

Others expect the SEC to answer the burning question of whether all ICOs are classified as securities in the second half of the year. If the SEC makes this announcement, we should expect to see fundraising slow down considerably.

>> Difference Between an ICO and a Cryptocurrency  

3: More Adoption on Wall Street 

In order for there to be wider Wall Street adoption of cryptocurrencies, the first two predictions on this list need to come true.

Large financial institutions will continue to stay away from cryptocurrencies and ICOs until the SEC clearly communicates its rulings on digital currencies. 

Take the example of Coinbase and Ripple (XRP). Sure, it makes sense for Ripple (XRP) to be listed on Coinbase, but the crypto startup has said publicly that it will never list XRP until the SEC has made its decision on the virtual currency. 

Additionally, regulators need to show that they can remove the criminal activity from the crypto industry. If these requirements are met, more traditional financial firms will enter the crypto space. 

>> Financial Institutions Already Involved in Crypto

Crypto Second Half of 2018: The Takeaway

Continued market volatility is also expected for the crypto industry, but this seems like a given. After all, even the most successful of stocks experience volatility from time to time. 

Do you have any more predictions for crypto? We’d love to hear them! Let us know in the comments below. 

Featured Image: Depositphotos/Konstantinp

If You Liked This Article Click To Share

!function(f,b,e,v,n,t,s)if(f.fbq)return;n=f.fbq=function()n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments);if(!f._fbq)f._fbq=n;
n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];s.parentNode.insertBefore(t,s)(window,
document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘894368744004449’);
fbq(‘init’, ‘447469122301599’);
fbq(‘init’, ‘1763072463990516’);
fbq(‘track’, ‘PageView’);

(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “http://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.6”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Go to Top
%d bloggers like this: