Cryptocurrencies such as bitcoin and ethereum have seemingly taken the world by storm. Yet the majority of the mainstream still hasn’t seemed to adopt ‘digital money.’

What is Cryptocurrency?

Cryptocurrency acts as real money that isn’t controlled by a particular source. It’s to be used legitimately ensuring that all parties involved are satisfied, without being traced by the government authorities.

There has recently been rumours and reports that Facebook is currently developing a cryptocurrency, allowing users to transfer their money via WhatsApp. It can then be used for personal transactions on many websites, allowing users to send and receive funds from across the globe (similar to PayPal).

According to Bloomberg, Facebook’s cryptocurrency will initially focus on testing in India, where a lot of transactions occur through WhatsApp. If successful, Facebook plans to introduce the concept into a variety of other developing markets such as America which would benefit greatly due to the already familiar concept of digital money.

So What Does This Mean for Digital Marketing?

If successful, Cryptocurrency will become a lot more prevalent within society. Marketing approaches will need to make alterations in order to support transactions of Crypto in E-commerce businesses.

Promptly getting your head around digital money is the answer. This could quite possibly be the difference between an E-commerce business sinking or floating in the future.

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David Bradley
Social Media Marketer/strategist with demonstrated history working in brand awareness, conversion campaigns, B2B, B2C and lead generation across all segments of the marketing funnel.

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