Does the Future Look All Rosy for Bitcoin and Blockchain Technology. newsbtc bitcoin news. We have all heard of the recent developments in blockchain technology and how it is being increasingly adopted by various industries including banking and financial sectors. While we all prefer to see a rosy picture of bitcoin and its underlying blockchain technology, there are few apprehensions regarding how it will turn out to be in the near future.
The Bitcoin industry is definitely growing and it has been attracting a lot of investments lately. Investments in the sector crossed another huge milestone recently when venture capital investments in the crypto-segment crossed the $1 billion mark. There are lot of new blockchain based products currently under development in the segment and also bitcoin as a currency by itself is being increasingly adopted by individuals and business. How long will this go on until things change for better or worse…
Before we start rejoicing about the bright future of bitcoin and blockchain technology, let us look into few things that may dampen the spirits.
How effective is the adoption of bitcoin among businesses? There is no definitive answer to this question without conducting a comprehensive survey. While the bitcoin community claims that there are tens of thousands of merchants accepting bitcoin, the ground reality is completely different. There are many who had initially signed up out of curiosity, to understand the cryptocurrency, over time many of them have stopped accepting bitcoins. Recently many Australian merchants stopped accepting bitcoins. However, many online merchants continue to provide bitcoin payments as an option.
While bitcoin payments and online businesses continue to be an attractive pair, bitcoin is losing out on brick and mortar shops. Making matters worse is the time required for conducting transactions. Online merchants can afford to wait for 10-15 minutes to […]
