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It is an amazing accomplishment that cryptocurrency has spread its roots to almost every industry. Currently, more than 1,000 cryptos are listed on exchanges. Due to their decentralised nature, cryptocurrencies have many uses. Let’s have a look at a few industries that are already using cryptocurrency for business.
The travel industry is one of the thrilling places to use your cryptocurrency. Some companies like Cheapair.com have been accepting Bitcoin as a mode of payment for purchasing flights, hotels, car rentals and cruises since 2013.
2. Real Estate
Blockchain just made it possible to buy houses using cryptocurrencies. Propy.com and MyCOINrealty.com are two such names in the real estate business that accept Bitcoin as payment to enable you to buy property.
3. Social Media
Currently, social media has grown to the extent that you can make a full-time career out of it. Some social media websites are utilizing blockchain technology to connect artists and performers or even people with specialized skills and talents to those who may be interested in it.
Transactions on these platforms are purely and efficiently carried out through cryptocurrencies.
Educational institutions like universities in Cyprus, Switzerland, the United States and Germany are now accepting cryptocurrencies, especially Bitcoin, as a payment option for course fees and student bills.
5. Venture Capital
Currently, many startups are ditching the traditional means of raising funds and are using cryptocurrencies to fund their ideas, services and products. Lighthouse is a good example of a startup that has successfully crowd funded using Bitcoin.
6. Fast Food Restaurants
Some major players in the fast food industry like Subway, alongside many other standalone ones, are accepting cryptocurrency as a form of payment. Pizzaforcoins is a company that accepts about 50 types of crypto payments.
7. Motor Industry
In the automobile sector a Tesla model S and a Lamborghini Veloce have been reportedly sold for Bitcoin.
In the retail industry many players like Overstock, an online shopping portal, are accepting Bitcoin as a form of payment for goods sold.
9. Green Economy
Some companies working in the clean energy sector like Brooklyn Microgrid are enabling and leading users to make a transition from carbon-based power to solar-based energy by incorporating cryptocurrency transactions into their businesses.
10. Digital Publishing
Digital publishers and advertisers are opting for cryptocurrencies to increase relevancy among mainstream audiences.
Blockchain and cryptocurrency can be used to tackle corruption and fund leaks that are rampant within charities. The World Food Program (WFP) is an instance where blockchain is being used to distribute cash assistance to the hungry.
An artist can now directly deal with the prospective buyer and patron using cryptocurrency-backed platforms that enable them to sell or buy art-related goods.
The cryptocurrency wave has opened up new possibilities for game developers. The ORB project is a good example of a game that enables a player to transfer his in-game cash into other assets, including cryptocurrency, and then exchange it for fiat money.
There are many other sectors that are catching up with the cryptocurrency and blockchain boom.