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.
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!
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