They have experienced exponential growth as an alternative currency and can potentially change the way we look at wealth management. However, their uses go well beyond wealth management. We list some of the uses of Cryptocurrencies below:
Donations: Recently, Ripple, a blockchain based payment system, donated around $29 million of its currency to support public schools in the US. This has been the largest donation of cryptocurrency ever in history and is likely to help one million students across the country purchase books and school supplies. The World Food Program also distributes funds using blockchain technology. Donating cryptocurrency isn’t new; it helps people ensure their money goes to the cause directly and at a lower transaction fee. In fact, Cryptocurrencies are the best way to avoid corruption and fund leakage in charities.
Events and Music Festivals: Rather than use money, event organizers across the world are now accepting Cryptocurrencies as payment for tickets and other expenses. Some are even using them to pay for artists and other event planners. PouchNation, for example, is an end to end guest management platform that allows guests to pay for tickets and enables registrations through the BlocNation Token, or BNTN. Guests can buy things using their pay bracelets and register wristbands. We are the world’s first decentralized initial coin offering; we act as a digital currency for all events and plan to move towards a wide range of other businesses over time.
Enjoy Augmented Reality: Companies like Pokemon Go and Candy Lab are now allowing augmented reality experiences in return for Cryptocurrencies. You can pay for in-person experiences with Cryptocurrency!
Crowdfunding: Cryptocurrencies have revolutionized the way startup entrepreneurs raise funds. You can now invest in a startup dream using cryptocurrency because of several crypto-based crowdfunding projects. Most systems offer full control to the sellers in the sense that donators can pull their funds before completion. Also, they won’t be charged if the fundraising goal isn’t met. Funds raised through Cryptocurrencies are easy to track and offer a wide range of benefits.
Traveling The World: Travel lovers across the world are using blockchain technology to travel from place to place. There are several bitcoin-only travel sites that allow you to book tickets, accommodations, and even rent cars while on vacation. At BlocNation, we allow users to book accommodations at marathons, music festivals, and other events using their BlocNation tokens. There are plenty of ways blockchain technology is changing the world. Soon, it will become mainstream enough to be used in all aspects of our lives. Can’t wait!
The author has been an active member of the cryptocurrency community. He shares interesting articles about the latest cryptocurrency developments in the emerging market. BlocNation allows event attendees to go cashless for conferences powered by PouchNation, South East Asia’s leading pcashless payment, and brand activations solutions provider.