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Big companies are jumping onto the cryptocurrency train with both feet, and it's not hard to see why. From small businesses to big corporations, more and more startups are looking for ways to implement crypto into their business models. Let's explore some of the craziest things big companies have done with crypto that might surprise you!
The National Basketball Association (NBA) is making moves toward adopting cryptocurrencies in a way only an organization with 24 teams could do...by giving away 10 million virtual coins spread among all 30 teams this season. The idea came from the Cleveland Cavaliers, who wanted to develop something special for die-hard fans or get them engaged in an innovative way as they continue to build out a new app. This idea may eventually turn out to be a marketing stunt, but it's also an interesting move toward bringing cryptocurrency to a massive audience who might not otherwise have considered using it before.
The "Kodak moment" is being reborn with another Eastman Kodak Co. company this time around as the once-iconic 81-year-old photography company makes plans to launch its own cryptocurrency system called KodakCoin designed for image copyright protection. In addition to launching the cryptocurrency, the company will also offer a blockchain ledger built into the same platform that provides immutable evidence of ownership for photographers and agencies holding image rights. There is no guarantee that either of these offerings will do well in the future, but it's an interesting move and shows how much companies like Kodak are thinking about what they can do to bring cryptocurrency into the mainstream.
As if one major company trying to do something with cryptocurrencies wasn't enough, Elon Musk-led Tesla Motors is now allowing consumers to buy its cars using bitcoin and other cryptocurrencies as part of a partnership with payment platform BitPay. At first, this looks like just another example of crypto infiltrating traditional markets - after all, who wouldn't want their car paid for in cryptocurrency? Well, there may be some reasons why that's not such a great idea...but it's certainly an attention grabber and provides yet another avenue for investors and users alike to get involved in the crypto world.
It's not just big companies outside of the tech world that are starting to think about how they can get involved with cryptocurrencies - even social media giant Facebook is rumoured to be working on its own cryptocurrency system. While there's no confirmation of this as yet, it would make a lot of sense for Facebook to do something like this, especially in light of all the Cambridge Analytica drama from earlier this year. If the rumours turn out to be true, it will be very interesting to see what kind of coin (or coins) Facebook comes up with and how it plans to use them.
Retail giant Walmart is getting into the cryptocurrency world with a bang, partnering with IBM to create a proprietary system that will allow consumers in the U.S. to buy their products using food stamps at select Walmart locations. While this may not sound incredibly exciting, it's actually quite an interesting move for all parties involved as it takes cryptocurrency out of the crypto market and into the real world...which is exactly what so many people think needs to happen if cryptocurrencies are ever going to catch on everywhere.
If there was ever any doubt about whether or not big companies would want anything to do with BTC or altcoins, let those doubts be quashed now - Starbucks has officially announced that it will be allowing customers to pay for their orders using cryptocurrencies. This is a pretty big deal, as it not only legitimizes cryptocurrencies in the eyes of many consumers but also provides a real-world use case for them that could potentially lead to wider adoption down the line. Whether or not this will end up being good for Starbucks remains to be seen, but it's certainly an interesting move nonetheless.
eBay has always been a big player in the world of online payments, so it's no surprise that they're looking into ways they can get involved with cryptocurrencies as well. In fact, the company has already filed a number of patents related to crypto and blockchain technology, which suggests that they're taking this whole thing very seriously. Exactly what eBay plans to do with all this is unclear, but it's certainly a good sign for the future of cryptocurrencies in general.
It's no secret that Microsoft has been one of the biggest supporters of blockchain technology and cryptocurrencies in general, so it's no surprise that they're looking into ways they can get involved. However, their approach to cryptos is a little bit different than most companies...instead of developing their own system, Microsoft has been working on ways to make it easier for others to do so. This includes integrating crypto support into their Azure cloud platform and even creating a specialized version of Excel that can be used to track and analyze blockchain data. While this may not seem too exciting at first, it could end up being one of the most important moves Microsoft makes in terms of cryptocurrencies.
Google is another company that has been relatively quiet when it comes to cryptocurrencies...until recently, that is. The search giant has now announced that it will be providing support for cryptocurrencies in its upcoming Android P update. This may not seem like a huge deal, but it's actually a very big deal as it provides legitimacy for cryptos in the eyes of many consumers. It will also be interesting to see if Google decides to do more with cryptos in the future - something that many people are hoping for.
JPMorgan is one of the largest banks in the world, so it's no surprise that they're looking into ways they can get involved with cryptocurrencies. In fact, the company has already created their own coin called JPM Coin which will be used to speed up transactions between clients. While it's not quite the same as using BTC or other cryptos, it certainly shows that JPMorgan is taking this whole blockchain thing very seriously.
When Telegram first announced their upcoming Telegram Open Network (TON) platform, many people thought that they might end up becoming one of the biggest players in cryptos since Facebook had banned all ads related to cryptocurrency. While that didn't end up being the case, TON still has a lot of potential, especially considering how interested Telegram is in working with cryptocurrencies. In fact, some have even speculated that this could be one of the main reasons why Telegram hasn't shared any details about their project yet. There are still some questions surrounding TON and how exactly it will work, but it seems clear that Telegram is getting more and more involved with crypto all the time.
When Amazon first revealed their Amazon Web Services (AWS) platform, many people thought that this meant that they were about to become one of the biggest players in cryptos since AWS could be used to help developers create blockchain apps. Amazon has already made some tentative steps towards cryptos, including allowing customers to purchase gift cards using Bitcoin. However, Amazon recently put an end to all rumours by announcing that they had no plans to accept cryptocurrencies on their site anytime soon. While some people are disappointed by this news, it's probably for the best as there are still a lot of questions surrounding cryptos and how they can be used in the real world.
Apple is another company that has been relatively quiet when it comes to cryptocurrencies, but that may soon change. The company recently announced that they will be creating a special unit within their company that will be focused on developing apps for the blockchain. While this doesn't mean that Apple is about to start accepting Bitcoin anytime soon, it does show that they are at least interested in this new technology and may end up doing more with it in the future.
It's not just small businesses that are getting into crypto. Big companies like Microsoft, JPMorgan Chase, Google and Amazon have all invested in blockchain data or created their own coin to use on the market. While it may be too early to tell if this will lead them to accept cryptos as a form of payment down the line, these big names investing in cryptocurrencies is certainly positive news for those looking for ways they can get involved with Bitcoin without having to invest much money upfront. Thanks for reading!
