Cryptocurrency is becoming more and more a part of everyday life, which really is great news for those who've been championing it from the start. There are all kinds of facets and qualities that cryptocurrencies have that make them fantastic choices for lots of different people, but there are still businesses who aren't on board with using crypto day to day. Thankfully, there are a few sectors who have really embraced crypto not just as a currency but for its technology too. These are some of the big businesses that are using crypto really wisely.
Air Travel Companies
Whilst some companies use cryptocurrency as a payment method alone, air travel companies have instead opted to use some specific technology involved in cryptocurrency instead. This technology, as you might have already guessed, is called blockchain technology and it is absolutely fundamental to how some cryptocurrencies work. Whilst blockchain technology might sound confusing, at its core it is a simple concept. In order to keep cryptocurrency transactions safe, something was needed to store a record of all transactions, it had to be available to everyone and impossible to tamper with; that's how blockchain was created. A blockchain is a record of transactions that are kept on a completely public ledger, meaning that anyone can see the information but nobody can tamper with it. The way that this actually works is the clever part, but we'll leave that explanation, for now, the important thing is knowing the basics.
Airlines use blockchain to keep records of all of the flights that are booked and/or refunded, as well as a note of when planes are due to take off and land. They can use this information across all of their offices and websites, allowing staff to see instantly which booking they need when talking to a disgruntled customer and also allowing customers to check on when flights are supposed to be arriving. Storing data in this way saves airline companies hundreds of thousands by drastically reducing the number of customer service representatives that they need to hire, as well as removing the possibility of fraudulent refunds being dealt out.
The iGaming Sector
The gaming sector was one of the early adopters of cryptocurrency as a method of payment. People could use cryptocurrency to pay for upgrades, expansion packs, and special items in their most loved online games. The fact that cryptocurrencies are decentralized meant that one day people would be able to pay a flat rate the world over. Unfortunately, for now, real money has to be exchanged for crypto, so it's not a perfect system. However, as crypto becomes part of our everyday life, these hopes will come to fruition.
As well as buying expansions and items, cryptocurrencies were also readily adopted by the online casino industry. At the moment the online casino that tops the list of best online casinos in the UK offers Neteller as a payment method, allowing customers to pay in any cryptocurrency. Vegas Slots Online, the creators of the list, use the available deposit and withdrawal methods as one of the factors that affect their star rating, showing how important a diverse range of methods is for both customers and businesses. One of the most exciting qualities that cryptocurrency offers is that it can be used totally anonymously. Some people prefer to keep their hobbies private and using cryptocurrency to pay for online casinos and the like can help them to achieve this.
Fast Food Restaurants
If you know anything about Bitcoin then you'll probably recall that the first transaction ever made was for two pizzas. At the time, two pizzas were purchased from Papa John's for an amount of 10,000 Bitcoins. At the time this was equivalent to $41, not a bad deal for two pizzas. However, when you consider the value of those bitcoins now, you'd be able to buy Papa John's several times over, as of today, those coins are worth $230 million. Whether Papa John's kept them in the bank or not, the important thing is this transaction sparked a chain reaction in fast food restaurants. There were plenty of places that were clamoring to accept the coins.
KFC in Canada released a special Bitcoin Bucket some years later, which people could only purchase using that particular cryptocurrency. Subway followed suit too with special release subs available for purchase. It might seem like just a fad, but crypto in business is on the rise, and the more publicity that cryptocurrencies get, the better. Fast food restaurants have a huge reach, so more schemes like this could lead to a huge upturn in people using crypto in their everyday lives.