5 Industries Adopting Crypto

Jul 28, 2022

Author: Elle Miller

5 Industries Adopting Crypto

The world is on the verge of a major shift in how we view and use the internet. Blockchain technology that powers cryptocurrencies, like Bitcoin and Ethereum, has the potential to disrupt every industry, from finance to advertising, but it’s still early days.

Here are five industries that are already using cryptocurrency and digital assets in their daily operations:

1. Music and Entertainment

Born through the internet, crypto has been able to make waves in the entertainment space through it. Twitter now allows fans to give gifts and tips using crypto. A Spotify rival called Audius plans to pay artists through crypto. Many artists are making use of NFT technology to sell and distribute their art. 

2. Fashion

Fashion has always been a reflection of real life. Brands have been testing blockchain technologies, usually through NFT artwork collections or product information. 

However, some luxury brands are taking a leap and tapping into the crypto crowd. Balenciaga, Gucci and Prada have all joined the cryptoverse and started accepting crypto payments in-store. This is an exciting step for mass adoption.

3. Government and Government Projects

Miami Coin. New York City Coin. Central African Republic building a crypto hub. El Salvador is gaining momentum through crypto projects.

Crypto has been a catalyst for cities and nations to come into the Web3 era and build new forms of industries, provide more jobs, and create solutions for their community. Even the Miami Mayor is still receiving his salary in Bitcoin!

4. Non-Government Organisations and Charity

With the ease of Bitcoin transfers, it's been a preferred use to give donations, raise funds, and give help across nations. From the Russia-Ukraine War, to refugees, or someone in need of help, crypto has been a God-send in facilitating transfer and monetary aid around the world. 

5. Everyday General Trade

MasterCard VP, Harold Bossé says that mass adoption of crypto is imminent. Online marketplaces like Shopify are allowing Bitcoin payments. Even Shakeshack is offering Bitcoin Cashback. 

With Bitcoin and other crypto increasingly becoming a payment norm, it’s only a matter of time when every supermarket and store accepts it. 

It’s no surprise when a time comes that Bitcoin and crypto is as commonplace as cash. Imagine how much 1 BTC will be by then?

One way to be able to discover how you can benefit from this early technology is to start your education. As you can see, it’s already making waves across different industries. One day, it could very well take over the world. 

If you take a few minutes from your day and invest in your crypto education, you can potentially be able to maximise your gains in the long run.