January 29, 20182min1103

IS cryptoworld going mainstream?

IS cryptoworld going mainstream?

A race might be on as merchants try to gain a competitive advantage through far lower fees and by opening themselves to a new half a trillion global crypto market.

Starbucks opened the firing shot, with its chairman, Howard Schultz, making it clear the world is going the crypto way. He said:

“I believe that we are heading into a new age, in which blockchain technology is going to provide a significant level of a digital currency that is going to have a consumer application. And I believe that Starbucks is in a unique position to take advantage of that…

And we think we have something to offer the companies that are chasing this, because we are in a position to create the trusted legitimate place in which this could be accepted and possibly take advantage of the mobile payment digital platform that we have created.”

South Korean merchants then added fuel to the fire. One of their biggest online shopping malls is to add 12 digital currencies in a very first for the country. Its competitor, TMON, quickly followed suit by suggesting they might do the same. Naver too.

In a country where crypto trading is fairly mainstream, the phenomenon can quickly spread, with a new era potentially underway.

But can the network handle it? Depends which one. Bitcoin clearly can’t right now with its current ecosystem, so it’s placing all of its hopes on the Lightning Network. In contrast, Bitcoin Cash says they can scale to even country level this very moment.

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