Global Adoption, Fungibility, and Smiles all around
What an exciting time for the Cryptoverse! Bitcoin crushes it’s all time high and surges into the $3,200 range. On top of that, Alt coins continue to pump to new highs over the weekend. If you are holding Crypto, you’re nothing but smiles. After such an outstanding weekend I thought it would be a great time to cover some new developments regarding global adoption and fungibility happening in the Crypto space.
Global Adoption:
Cointelegraph recently released an article highlighting Ukraine’s massive run to adopt Bitcoin. Michael Chobanian a Columbia Business School grad and Bitcoin enthusiast is making waves in his home country of Ukraine. Michael started the KUNA Bitcoin Agency in 2014 and began spreading the Bitcoin gospel throughout his country. Today he is the founder of the first Cryptocurrency exchange in Ukraine called KUNA Exchange. Michael also has plans to implement 150 Bitcoin ATMs (BTM) across Ukraine by the end of 2017! Ukrainian Entrepreneurs are rejoicing around this development and are joining the Bitcoin gold rush as fast as they can. With other Cryptocurrency market monsters like South Korea, China, and Japan integrating economic use cases and new blockchain technology it is easy to see that Cryptocurrency is well on its way to global adaption.
https://cointelegraph.com/news/ukraine-scheduled-to-install-150-bitcoin-atms-in-2017
https://www.cryptocoinsnews.com/south-korea-preparing-legalize-bitcoin/
Fungibility:
With the global adoption of Bitcoin and other Cryptos on the rise, the next question that comes to mind is; how can I use Cryptocurrency in my everyday life? A golden rule for any currency is that it must be accessible and easily spent. How will Bitcoin become fungible on a global scale? Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution (i.e., interchangeability). That is, it is the property of essences or goods which are "capable of being substituted in place of one another". The guys over at TenX have the solution. The goal for the TenX crew is to make it easy to “use your blockchain assets in real-life.” They offer the TenX Debit Card on the COMIT Network. The debit card can be directly connected to your Bitcoin, Ethereum, Dash, and ERC20 digital wallets. The TenX debit card allows users to swipe their card on everyday purchases, like your early morning coffee or mid day Chik fil A run. When the card is swiped, it drafts from your digital wallet and instantly converts it to the equivalent USD price at the current exchange rates. The transaction takes place seamlessly using the latest blockchain technology on Tenx’s COMIT network. Although there are already several Cryptocurrency debit cards on the market, TenX takes it to the next level. TenX offers a 0.1% reward incentive program for all card holders. Every transaction will reward the user with a 0.1% return of TenX’s own digital asset token called PAY. 0.1% percent may not seem like much but over the weekend PAY doubled its value soaring up to $2 a token. This makes it attractive for the users to swipe more often and promotes the use of blockchain assets in the day to day life. From an investor's standpoint, I find that TenX will need to implement more utility for the PAY token to really gain any traction. With companies like TenX making it easy to spend your blockchain assets we are bringing Crypto to the mainstream and giving it life in an economical sense. Once Cryptocurrencies can be spent at every retail store around the globe there will be no stopping it.
People are starting to understand the immense value in Cryptocurrency and Blockchain Technology. Tech Giant countries like China, Japan, and South Korea are quickly integrating Cryptocurrency and Blockchain into their major money making corporations. Adapting a system to spend these digital currencies in everyday life is another challenge. With people like Michael Chobanian and the crew over at TenX the challenges of bringing crypto to the everyday spender are being conquered. It’s a bright future for the Crypto Community! #BuyBitcoinHTX
Happy Holding fam,
CryptoCollin