Cryptocurrencies create new ways of attracting capital while the financial regulation system becomes obsolete due to the emergence of technologies based on decentralization. This makes online marketplace holders think about new payment options introduction. However, cryptocurrency payments implementation is quite a challenge, taking into account numerous legal restrictions, technical requirements, and other obstacles.
Last year the total cryptocurrency market value has reached above $600 billion and put major industry giants just behind in the race. What strategies of crypto-adoption have the most widely known companies already chosen? Let’s find it out.
Rakuten: Using Blockchain to Transform the Company’s Business Units
In March 2015, Rakuten began to use the Bitnet platform to accept payments in bitcoins. Later, this Japanese e-commerce giant has acquired rights to use bitcoin processing tech of Bitnet Technologies Ltd. in 2016. Soon it was announced they would open a blockchain laboratory – Rakuten Blockchain Lab (RBL). All these activities aim to research the technology and its potential appliances to broaden the market influence.
As Fergal Downey (the VP of engineering at RBL) said, the diverse business portfolio of the company allows to create really valuable blockchain solutions able enhance the whole ecosystem. The diversity of huge Rakuten’s brands like Ichiba (known to be the Japanese Amazon), Viber, and numerous other smaller companies ranging from sports websites to banks ensures there will be enough work for RBL experts as well as possible enhancements.
Amazon: Cryptocurrency Is Just for Exchange, Not for Payments
Read the full article here: https://roobykon.com/blog/posts/81-adoption-of-cryptocurrency-by-world-famous-marketplaces
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