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These Tertiary Industries Will Continue to Grow Due to Cryptocurrencies

Posted by QuoteColo on June 27, 2019 - Updated on February 20, 2023

These Tertiary Industries Will Continue to Grow Due to Cryptocurrencies

To say that cryptocurrencies have changed the world and continue to change the world is an understatement. In ways great and small, the creation of cryptocurrencies has created a wide range of changes to many different types of businesses. As more and more of these cryptocurrencies are introduced, and as they grow, you can expect to see it starting to affect many different types of tertiary industries. This includes industries that you might not immediately think about when it comes to cryptocurrencies at all. Let’s have a look at a few of these industries and see what types of changes and effects the crypto coins are having.

Financial Transaction Industries

One of the ways that cryptocurrency has truly changed the world is through the added number of options that people will have for making purchases. The first and arguably most popular type of cryptocurrency, Bitcoin, paved the way for this. There have been many other coins that have been developed to be used for online financial transactions and even loans over the interceding years, including Bitcoin Cash, Litecoin, Ripple, and IOTA.

While there are similarities between the coins, they tend to focus on different sectors or industries, helping them to grow in different areas. For example, Ripple focuses on bank-to-bank transactions that happen across borders. IOTA is positioning itself to be the currency of choice, crypto or otherwise when it comes to transactions involving the Internet of Things.

Social Tipping

There are even cryptocurrencies that are geared toward providing tips on social media. If someone were to make a quality post on a blog or another social media site, there might be people out there who would like to find a way to reward the poster for the content they created. However, that’s not always easy to do. With cryptocurrencies like ReddCoin and Steem, that could change. ReddCoin will let people send tops for posts on social networks, and Steem provides a rewards platform that publishers can use as a way to monetize content.

The Growing Marijuana Industry

There are many who are even more surprised that the marijuana industry, and all of the industries that surround it, is growing as quickly as it is. Because of the legal gray area of this industry, many who are growing and who are otherwise involved in this field have started to turn to cryptocurrency. In fact, there are several cryptocurrencies that are directly connected. Potcoin is banking for the marijuana industry, while HempCoin is trying to position itself as a full solution for the entire industry. They want to be available for everyone from the farmers to the dispensaries.

So Many Other Types of Industries Being Affected by Cryptocurrency Growth

Of course, those are just a few of the ways that cryptocurrency is affecting so many different types of industries today. The technology is making its way into the credit industry, mobile data, online gambling, online voting, advertising, gaming, and so much more.

Watching how the growth of all of these different types of cryptocurrencies has changed and altered the direction of various industries is fascinating. The only thing that is slowing down the growth of cryptocurrency right now is the fact that there are still many people out there who do not trust it or understand it entirely.

Though it has been around for several years, it is still new enough, and alien enough, that many are still trying to find their way around cryptocurrency. In the coming years, as more and more companies and retailers start to allow for cryptocurrency purchases, though, it is likely that the attitude will change.


Categories: Bitcoin

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