Blockchain and Cryptocurrency See An Increase In Adoption

Blockchain and Cryptocurrency See An Increase In Adoption

In recent months, more businesses, especially unicorns have been integrating Cryptocurrency payments. Wix is one of the publicly traded companies that have included Crypto payment as one of the billing methods. Small companies are playing a major in encouraging the adoption of this new payment method. Businesses that will integrate Blockchain stand to enjoy the benefits of this revolutionary technology.

Wix Integrates Cryptocurrency Payment

Last month, Wix, a website builder added PumaPay Cryptocurrency payments. The move is expected to provide Wix’s clients with more payment options. Furthermore, these businesses will now be able to implement similar payment options on their websites for their clients. Consequently, this will boost the number of Cryptocurrency users as more businesses will now start accepting the coins.

New Technical Foundations Crucial In Boosting Cryptocurrency Payment

Most Cryptocurrencies reached their highest prices at the beginning of this year. Since then, the prices have dropped drastically leading to some people arguing that the coins are dead. Nevertheless, others have come out strongly to defend the price changes saying the market is maturing. The volatility of the virtual currencies has not discouraged more business from integrating Blockchain.

Gartner recently gave its verdict about the digital assets in its 2018 Hype Cycle for Emerging Technologies. According to the company, the virtual currencies will provide a competitive advantage, especially in the next ten years. The research firm predicts that a lot will happen in the Crypto space even in the next five years.

The company further claimed that new technical foundations will play a vital role in enhancing the adoption of emerging technologies such as Blockchain and Cryptocurrencies. Startups and small firms dominate the emerging technologies, as they are more willing to explore new areas. Most of these businesses believe the technologies can give them an upper hand over the more established companies.

The integration of Blockchain and Cryptocurrencies has not just been left in the hands of small businesses. Towards the end of last year, there were reports that established companies like PayPal and Overstock were planning to get into the virtual currencies. Although such firms can influence the adoption of the new technology, digitalized ecosystems can play even a more significant role in pushing the digital assets to the forefront.

Digitalized technologies can enhance the integration of new technologies. These technologies can ensure that the virtual currencies are available on companies’ websites. Moreover, they can enable the customers to also adopt the Cryptocurrencies and even make them more popular.

Wix’s Customers Stand To Benefit

According to PumaPay’s CEO Yoav Dror, the integration of Crypto payment will provide Wix’s customers with a new payment processing option. The new move is expected to play a vital role in enhancing the use of Blockchain technology. Furthermore, it will make Blockchain payment method available to many.

The CEO also argues that they enable businesses to process payments in their preferred method by using different billing options. They also get the freedom to develop their business logic. The use of Cryptocurrency payments comes with benefits such as reduced fees and helps in eliminating chargebacks. The payment option also ensures transactions are settled immediately.

September 20, 2018

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Samantha Mitchell