Industry News Possible Industry-Wide Partnerships that Could Help BitCoin

Possible Industry-Wide Partnerships that Could Help BitCoin

January 29, 2016

bitcoin-globalBitCoin was created as a digital currency that is not tied to any other monetary system in the world.

Its creator or creators recognized the need for a network that was removed from the rest of the financial world with its strict national control and oversight.

This need came from the fact that while plenty of banks and other similar institutions where internationally owned and free to operate, the monetary systems themselves were owned by the countries which created them.

This meant that all fiat currencies on the planet were based on one or more countries. As an alternative, BitCoin proposed and delivered a digital currency that operates based only on the energy and computing power of the users who are a part of its P2P network. This made it into a cryptocurrency that is owned by those in the network and regulated by the same people.

That kind of operational status allowed BitCoin to be a truly independent monetary system. Today, for many reasons, BitCoin is still faithful to its original setup and continue to be free of any influence that might come from either governments or traditional financial organizations.

But, at the same time, BitCoin is not outside of the wider financial ecosystem. BTC is still used by a large group of people who are all involved in the macro economies of the world and all of them have access to a range of Fiat currencies. Most of them partake in daily exchanges of BTC into traditional currencies or vice versa. Because of this, BTC is still a part of the global economy and as such, it is open to changes that impact its standing and prospects.

Some might see this as an unwanted fact, especially when it comes to the BitCoin’s ability to insulate itself from the big systems, but several areas that are, like the cryptocurrency itself, relatively new, offer a chance for BTC growth and expansion. These are the most important ones.

Online and Digital Entertainment Industry

The entertainment industry, in general, is by default open to new technologies and advances of all kinds, but particularly those that might bring about a new source of finance. The thing that connects any producer in the world, no matter if he or she is working in Hollywood, Moscow, Shanghai or Lagos, is the constant need for investors willing to put their money into their future entertainment products.

These products might come in the form of music, movies, TV shows, games, E-Sports or any other collaborative work of commercial art (a product), but all of them include a pre-production phase that involves a budget. Now, all of these products come in a digital format and are a lot of times offered to the entire planet.

A big number of them have shown in the past years that success is possible for practically any artists that have something unique and valuable to offer to the global audience. BitCoin could be an ideal source of finance for the digital entertainment industry because of its flexibility and effortless transfers.

Unlike traditional currencies, a BTC investment process in the same domain could include low-level financing for a wide range of ventures. For the investor, only one of these would have the potential to make the entire investment worthwhile, for example if a single musician manages to find worldwide success. With BitCoin, the traditional, slow and finance-intensive system of investing could be replaced with a much more effective process that is tailor-made for the contemporary times.

Orbital Transport and Space Tourism

Both of these branches of industry represent expanding fields because of the engineering breakthroughs that private companies like SpaceX managed to demonstrate in the last decade. With the prices of rocket transport to the lower orbit of the planet becoming more and more affordable, so does the entire industry grow and branch out.

Now, as SpaceX succeeded in their VTVL (vertical takeoff vertical landing) vehicle tests, the price of orbital transport will become even lower. In the next decade, the boom in the industry will seem many small and medium-size companies rush to take their position in this domain.

While many in the Western world will be funded using traditional means, a lot of these will be created in countries like India, Bangladesh or Brazil, all of which possess a huge potential in this area. Here, a BTC-based investor could get an early start while the entire industry could profit greatly if it were to develop a custom investment and payment infrastructure.

So far, in all of these countries, BitCoin is already functioning as a digital currency for everyday use, like betting online using BTC. Now, it is just a matter of expanding it into the orbital transport industry as fast as possible. If this does not happen, other investment options will gradually find their way into the same area and lower the chance for BTC.

Global Market for Handcrafted Products

While this might stand in a stark contrast to the high-tech domains of orbital transport and digital entertainment, handcrafted items will only expand in value in the future. In a mass-produced, carbon copy world that awaits humanity in the upcoming decades of the 21st century, products that are made to be one of a kind will be seen as something exceedingly desirable thanks to its uniqueness.

However, these items will come from all parts of the world, including some places the traditional banking systems are simply not up to the task of handling international transactions. With BitCoin, the entire issues could be avoided completely for the benefit of both consumers and retailers.

An additional advantage of this type of interments would be the boost it provides to the BTC retail sector, which is somewhat lagging when it comes to this cryptocurrency. With a strong, handcrafted industry that covers the globe, a new wave of venture capital could reinvigorate the investment in the same domain.

Equally important for this type of investment is the fact that the same industry would only expand as the time goes by, adding new producers as the network develops. This would mean that a slower pace of ROI would be gradually raised to a level that would make this market exceedingly desirable, even though several years could be needed for the same results.

BitCoin as a Trend Setter

Investment in any of these areas is not only a lucrative endeavor but also a move that demonstrates clearly that the BitCoin community is looking forward. At the same time, it also tells the rest of the financial ecosystem that BTC is willing to step into new domains and help them grow while it grows along with them.

This type of message would undoubtedly benefit not just the members of the community actively participating in these endeavors, but the entire network as well.