NetworkNewsWire Editorial Coverage: There is a massive, underserved target market out there for cryptocurrency – a market succinctly delineated by World Bank statistics that indicate 2 billion or more people worldwide are unbanked, as well as by FDIC data that shows more than 23 million Americans are either unbanked or underbanked. Such data illustrates how cryptocurrency is poised to potentially disrupt the digital payments landscape by ensuring an alternative to traditional banking; and, of course, all merchants are eager to avoid transaction fees regardless of where they do business in the world, which is a primary driver of ongoing growth in merchant acceptance. The underlying potential and increasing acceptance of cryptocurrencies has sent many different kinds of demographics racing to find the “Bitcoin 2.0” killer coin. Contenders such as the community-centric SmartCash (Crypto: SMART) (SMART Profile), with its self-replenishing SmartHive Project Treasury and ongoing innovation, are gaining more attention. Major market players in the crypto-asset movement like payment-focused Square, Inc. (NYSE: SQ), PayPal Holdings, Inc. (NASDAQ: PYPL) and Visa, Inc. (NYSE: V) are becoming increasingly aware of such attractive crypto-assets as SmartCash, and blockchain-focused juggernauts such as International Business Machines Corporation (NYSE: IBM) are lining up as well.
Crypto Can Serve as Superior Substitute for Outdated Payment Systems
Even before scalability issues in the Bitcoin (Crypto: BTC) blockchain are resolved (a situation that would help put BTC more center stage when it comes to consumer choice for buying everyday goods and services), the benefits of crypto for tasks such as value transfer are becoming increasingly apparent. Because crypto-assets leverage the power of blockchain technology to clear and quickly settle transfers without the need for an intermediary, comparatively antiquated banking networks are beginning to look like…
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