Is Big Tech Pushing Cryptocurrency and Blockchain towards Mass Adoption?
The 4 big tech companies of the world including Google, Apple, Facebook, and Amazon are the main drivers of technological innovation. They are among the first technical developers to invest in cryptocurrency and blockchain technology, besides other technologies.
These innovations are the main reasons why there has been a major push towards the adoption of digital technologies. Numerous cryptocurrency brokers, services, and applications are now integrating these services.
Hundreds of millions or even billions of online users have been impacted by each of these 4 tech behemoths. Most of the internet users have been massively impacted by these four firms in different ways:
- Google: Its game-changing search engine has become the lifeline of most online users and a primary source of content. Besides its search engine, YouTube is yet another Google product that has impacted the users.
- Apple: It is one of those consumer electronics companies that have brought a paradigm shift in how people think and use high-tech devices. Whether it is their Apple computer, iPhone, iPod, or any other Apple product, they have become the next league product that users look up to.
- Facebook: The massively successful social media platform is one of the greatest success stories of all-time. Facebook and Instagram have connected people that internet users never experienced before. Even a tech-averse individual now has his/her own Facebook account to get connected with their near and dear ones, providing them the opportunity to explore the unexplored.
- Amazon: Amazon has become a household name for millions and billions of people across the world. The COVID-19 pandemic and the following lockdowns have made them the preferred one-stop shopping solutions of households all over the globe. Another product that has revolutionized the online world is definitely their cloud computing services, helping enterprises, medium-to-small businesses, and even individuals.
Most people have either used, seen, or heard about the technological solutions and services provided by these four technological giants. Their reach is unprecedented and each of these companies is doing its bit to push the adoption of blockchain technology and cryptocurrencies.
Whether it is Google, Apple, Amazon, or Facebook, each of these companies is using their respective payment services Google Pay, Apple Pay, Amazon Pay, and Facebook Pay to bridge the yawning gap between the world of traditional finance and the crypto-sphere.
People as well as the institutional and corporate investors are realizing the benefits of blockchains and virtual currencies. That’s why they have invested in blockchain, bitcoin and cryptocurrency technology. Besides these 4 behemoths including Google, Apple, Amazon, and Facebook, IBM is another major corporate giant that is making strides in the block chain technology. IBMs blockchain platform and technology empowers businesses in digitizing transactions with the help of a secured, shared, and distributed ledger. It helps to improve efficiency as well as transparency.
Can Digital Payment Services become the Gateway for the Mass Adoption of Cryptocurrency and Blockchain technology?
Yes, they can and the process has already started. Let’s see how.
Cryptocurrencies have come a long way in the last 10-years. Earlier, it was a daunting task for traders and investors to invest in Bitcoin and other digital assets. Investors either had to trust remittance services or shady payment processors to buy Bitcoin and other cryptos. In many cases, they had to use peer-to-peer cryptocurrency marketplaces for buying Bitcoin (BTC), Ethereum (ETH), and other altcoins in person.
However, over the years, the payment services offered by these four big technology firms have made it easier for you to acquire cryptocurrencies. All the hurdles that were present earlier to public blockchains, distributed ledger technology (DLT), and privatized blockchains (such as bitcoin blockchains) are slowly but surely broken down by the advancement of technologies, coupled with the increase in the number of cryptocurrency exchanges. There are currently more than three hundred cryptocurrency exchanges across the world.
With a slew of altcoins going through numerous updates, including improvement of smart contracts and Ethereum blockchains, their use values are increasing and also helping blockchains to become more effective inside and outside the network. This is bringing in the required blockchain revolution as well as huge blockchain investment in the industry. With the improvements (proposed and actual), you can now use the blockchain for multifarious utilities including efficient food supply.
Improvements can be seen in:
- Cryptographic hash
- Computing power
- Proof of Stake
- Lightning network
- Differences between blockchain and cryptocurrency technologies
- Private blockchain networks
- Record transactions (including Bitcoin transactions)
- Data store
- Technology research
- Decentralized blockchain and decentralized applications
- Hybrid blockchains
- Blockchain solutions
- bitcoin and cryptocurrencies
- Differences in blockchains
- Blockchain platform
- PeerToPeer networks (P2P networks)
- Permissioned blockchain
Experts believe that the increase in understanding blockchain, cryptocurrency wallet, record keeping, decentralized exchanges, blockchain record, cryptocurrency like Bitcoin, the technology behind Bitcoin, a network devoid of any central authority, and the blockchain company will help in increasing the popularity of both the blockchain technology and cryptocurrencies.
Knowledge of other issues that can help in making blockchain and cryptocurrencies popular are:
- Ethereum vs Bitcoin
- Bitcoin vs Bitcoin Cash
- Blockchain explained properly
- How decentralized transaction occurs in cryptos
- How data comes?
- Store data
- Disadvantages of blockchain
- Electronic cash system
- How blockchain and smart contracts help efficiency in food supply?
- How information is stored on the blockchain?
- How do miners validate transactions?
- How to make a blockchain secure?
- How are previous blocks chained with other blocks in chronological order?
While the access to multiple crypto exchanges has made the first wave of penetration among investors and traders, the second wave towards mass adoption of Bitcoin and other cryptocurrencies is propelled by the services providers as well as merchants who now accept cryptos through the payment platforms including Google Pay and Apple Pay.
Reports say that the combined user base of these services and platforms is currently more than 500 million. This makes these services the right media to make cryptocurrencies accessible to practically anyone having a smartphone, personal computer, laptop, or tablet. The payment platforms are easy to operate, which are used by millions of users. They take the complexity out of purchasing cryptocurrencies and therefore have the potential of creating the pathway towards mass adoption.
The services provided by the big tech giants are now integrated by hundreds of different cryptocurrency brokers, services, and applications. It, therefore, allows users to easily buy cryptos and other related services with the use of their debit/credit cards.
Recently, Google Pay has gone one step forward to make way for faster adoption of cryptocurrencies. Google Pay now allows users to add their crypto-powered Coinbase Case to the wallet so that they can make payments to stores by using cryptocurrencies.
Cryptocurrencies are mostly used for trading. On a daily basis, tens of billions of dollars of crypto assets are traded in the spot cryptocurrency market and derivative exchange platforms. Most of these platforms support fiat currencies such as the US Dollar. However, this is usually done through 3rd party payment processors including Changelly or Moonpay. This is changing slowly but surely.
A popular platform called NewsCrypto (providing educational resources, insights, and tools to the crypto-traders) has become one of the first platforms that provide traders the opportunity to buy cryptocurrencies directly for Apple Pay, PayPal, and GooglePay. You can use Apple Pay to buy NewsCrypto Coin (NWC) tokens, which in turn can be used to buying cryptos such as Bitcoin (BTC) and Ethereum (ETH). In fact, the users can also stake these cryptocurrencies to earn up to 30% APR and also do many other things.
Going Beyond Payment Gateways for Cryptocurrency and Blockchain technology
While all the big technology giants are helping to make Bitcoin and other cryptos, available to a larger audience through their payment apps, Amazon has taken one step further by offerings its blockchain as a service (BaaS) platform, which they call the Amazon Managed Blockchain. It is enabling the enterprise clients to launch their own blockchains easily over popular open-source frameworks including IBM’s Hyperledger Fabric as well as Ethereum.
Amazon is also offering a cryptographically secure, centralized database called Amazon Quantum (a blockchain-like platform), which helps in digital identity, supply chain, and banking applications.
This blockchain-like platform is already being used by some big names, which includes the UK’s Driver and Vehicle Licensing Agency and the Swedish bank named Klarna (which offers the popular Klarna buy now pay later services). UK’s Driver and Vehicle Licensing Agency are currently exploring the ways in which Amazon QLDB can be used to store and process public and private data registers.
Just like Amazon, Facebook is also working on its own cryptocurrency project known as Libra, which is expected to be launched sometime in 2021. These are some of the ways through which the largest technology companies in the world are pushing cryptocurrency and blockchain towards mass adoption.
The bitcoin blockchain has come a long way since the initial days of this cryptocurrency’s launch by its anonymous creator Satoshi Nakamoto. Nowadays, the decentralized networks, Decentralized Finance (DeFi), and non fungible tokens (NFTs), and smart contracts are the most important technologies. The smart contracts and oracles are helping different blockchains to automate transactions and connect outside the distributed ledger system.
Whether it is the transaction record and keeping, transaction process, bitcoins network, difference between bitcoin and ethereum, different types of blockchains, blockchain applications, initial coin offerings, or bitcoin mining, the big technological giants are pushing cryptocurrency, blockchain system, bitcoins network, and different digital assets towards mass adoption.
Can you Trade Cryptocurrencies Automatically?
Yes, cryptocurrencies can be traded automatically with the help of AI-driven crypto bots. These bots automatically scan the market in real-time and trades for you. They run 24/7, giving you an edge over other investors as it enables the bot to book profits on your behalf when other investors are sleeping.
NapBots is one such cloud-based crypto trading platform that connects to major exchanges such as Binance, Bitmex, Bitfinex, OKEX, Kraken, Bitstamp, and Bitpanda. Once you put it on autopilot, it monitors charts and candles to predict your next move. Any novice trader with zero skills can also start trading like a pro and earn money with this unique trading tool.
Is it Risky to Trade with NapBots?
Though NapBots has a proven record of providing great returns to investors, it doesn’t guarantee profit all the time. It can provide you astonishing returns with hourly strategies. As the crypto market is very volatile, you should expect to see losses from time to time too. If you’re not ready for that, you shouldn’t get into crypto trading in the first place.
If you are a novice in the cryptocurrency market, you can put your cryptocurrency trading on autopilot, get excellent ROI, and keep earning your passive income round the clock, even when you are sleeping. However, always keep in mind that NapBots is not a get-rich-quick scheme. You can check the reviews before taking the plunge.
Is there any Difference between Investing through NapBots and Without?
NapBots crypto trading software is special because it comes with:
- A unique trading algorithm that processes market data for you
- A unique crypto trading bot library so that you can create your own mix of trading strategies
- Autopilot mode that enables you to automate trading 24×7
- An easy-to-use interface so that you can copy the proven strategies of NapBots to make successful trades and make money
NapBots offers complete trading automation solutions through the use of its own tested trading strategies; offering quantitative trading strategies previously reserved for hedge funds to the public.
The setup and installation process are easy. So, the non-experts can also use it. The simple and special approach of NapBots helps it provide you with excellent ROI.
The team of professionals behind NapBots has extensive experience in the financial market. They have put their years of experience in place so that you can easily automate the management of your funds with no technical skills. This service can run 24/7 and work as your passive source of revenue even when you sleep. Muslims can easily and safely use crypto trading bots.
Are You Ready To Start Automating Your Passive Income Now?
If you still need assistance, you can refer to the following guides:
- How to invest in crypto currencies like a pro?
- Should you invest in bitcoin and crypto currencies?
- The 3 best ways to invest in gold
- Stock trading and investing
- Everything you need to know to invest in cryptos
- What you should know about crypto taxes
- How can you minimise your crypto taxes
- What is the next bitcoin investment like?
- Religion and trading cryptos
- Muslims in bitcoin and cryptocurrencies
- Trading in India: Is the government planning to ban cryptocurrencies?Can become bitcoin a safe investment?