Marketing Ad Agency JWT Includes Bitcoin In Report on the Future of Payments and Currency

October 27, 2014 00:02 UTC

JWTIntelligence, the research arm of JWT, has released a report titled ‘The Future of Payments & Currency’ that examines ongoing trends in payments and the “rise of alternative currencies.” JWT, formerly known as J. Walter Thompson, is a leading American marketing communications brand that has a very real worldwide reach. With its HQ in NYC, JWT has over 200 offices worldwide in over 90 countries. Famous marketing campaigns designed and executed by JWT include the Oscar Mayer “Bologna Song” (you can hear it now can’t you) as well as the still-used United States Marine Corps slogan, “The Few. The Proud. The Marines.”

Lucia Greene, the worldwide director of JWTIntelligence, summarized:

All friction is being removed from payments so that we’ll almost make transactions without realizing it. We’ll also move beyond contactless mobile payments to paying with our bodies—our iris, our thumbprint, etc. Our whole idea of value, exchange and currency is being disrupted with new systems that trade in trust, social currency and other commodities. People are finding new ways to trade, and brands are enabling this by creating alternative payment and currency systems.

Also read: Advisory Group Finds Divergent Digital Currency Regulations around the World

JWT on Bitcoin

JWTIntelligence’s trend report on the future of payments included several slides dedicated to Bitcoin and the recent trend in Bitcoin adoption. From Dell to DISH, JWTIntelligence noted that the increased adoption of Bitcoin, through companies such as Coinbase or BitPay, has increased the perceived legitimacy of Bitcoin as a novel currency. However, despite increased legitimacy, the report shows recent studies that show that Bitcoin skepticism still prevails. The industry is paying attention though. As Deborah Baxley, a card payments expert at Capgemini says in the slideshow:

Virtual currency – it may or may not be bitcoin – is a technology that solves a commerce friction problem. And as in any case where you’ve got friction and commerce, it’s going to work eventually.

The full report is available for download here.

What do you think about Bitcoin’s potential in marketing? Comment below!

Images from Shutterstock.

Show comments