5 Ways in Which Bitcoin Will Change the World

11 Jul, 2019
by Sponsored
5 Ways in Which Bitcoin Will Change the World

Bitcoin has been making waves and stirs ever since it was invented by Satoshi Nakamoto in 2009. A lot of people did not believe it would survive the first hardships or have any impact on the world around us. However, the reality is showing us something very different. Bitcoin is taking an increasingly important role in different aspects of our lives and is already a major factor in the financial world.

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As time goes by, bitcoin will only continue to change, take new shapes, and enter new spheres and industries. That will inevitably have a great impact on the whole world and change many of its aspects.

If you’re wondering in which ways this digital currency will alter our lives in the future, you should read the rest of this article. In it, we’ll share some of the most probable predictions.

1.   Bitcoin Will Strengthen E-Commerce

The e-commerce industry is already very strong. Millions of people purchase a variety of things online every hour. Thanks to bitcoin, this number is going to continue to rise in the future. The majority of people who do not shop online avoid doing that because of safety issues. Digital currencies are multiple times safer than traditional currencies and they eliminate numerous threats related to e-commerce.

When using bitcoin to shop online, the threat of fraud is mitigated both for the customers and the vendors involved in the transactions. Bitcoin also reduces the concerns consumers have regarding the safety of their personal information. In the future, bitcoin transactions are going to become even safer as transaction practices improve.

2.   The Gambling Industry Will Fully Embrace Bitcoin

Bitcoin and the gambling industry are a perfect match. Today, more and more online casinos and sportsbooks are accepting deposits and withdrawals involving digital currencies. They have figured out that cryptocurrencies completely eliminate the factors that keep potential players away. Namely, the two main ones include safety and anonymity.

Today, you can already play bitcoin video slots in hundreds of online casinos. Digital currencies are especially practical in the iGaming industry because the transactions are very fast. If you run out of money, you can quickly deposit more and re-enter the same game you were playing. Therefore, it is certain that bitcoin will drive change in this prospective industry.

3.   Bitcoin Will Simplify International Transactions

International transactions are complicated and costly both for ordinary people and big corporations. When you move money from one country to another and change one currency to another, you need to pay expensive exchange fees. Bitcoin allows you to make cross-country transactions without having to worry about that.

When you’re making a bitcoin transaction, you’re always paying the same transaction fee, regardless of where you’re sending your money. This fee covers the expenses of blockchain verifying your transaction and is usually meager in size. Therefore, it is highly likely that bitcoin international transactions are going to become a standard in the future.

4.   Bitcoin Will Increase Crowdfunding

Digital cryptocurrencies will increase the opportunities for valuable start-ups to get funding quickly. That can be done through Initial Coin Offerings (ICO). Basically, a start-up company has the ability to create their own digital currency and offer it to investors at a certain price. Investors then buy whichever amount of coins they want and as the value of the company increases, the value of their coins grows as well.

Originally, investments were done using bitcoins, but today there are thousands of different types of cryptocurrencies out there. This is a much better and much safer way of investing in an idea you like. The chance of fraud is minimal, and if the start-up succeeds you are guaranteed to get a return on your investment.

5.   Bitcoin Will Encourage Social Advancements

As you already know, bitcoin is a cryptocurrency based on blockchain. Blockchain has the ability to completely change the world as we know it today. In the future, there is a high probability that blockchain will bring about numerous social advancements.

For example, human society is completely dependable on large institutions, corporations, and foundations that serve as mediators in numerous social processes. Unfortunately, they don’t always work in the best interests of ordinary people. Thanks to bitcoin and blockchain, we might be able to completely eliminate the need for them in the near future.

Disclaimer: This article is sponsored content. Chepicap has not written this article, nor do we endorse any content within the article. It should be clear for readers this is not investment advice. As always, do your own research.

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