But what is Cryptocurrency?
Cryptocurrency acts as real money that isn't controlled by a particular source, to be used legitimately and in a manner that ensures that all parties involved are satisfied without being traced by the government-authorities.
There has been rumours and reports in the press recently that Facebook is currently developing a cryptocurrency that allows users to transfer their money via WhatsApp that can then be used for personal transactions on many websites allowing users to send/receive funds from across the globe (similar to PayPal)
According to Bloomberg, Facebook’s cryptocurrency will initially focus on testing in India, where a lot of transactions occur through WhatsApp. If successful Facebook will introduce the concept into a variety of other developing markets such as America who would benefit greatly due to the familiarity of digital money already.
So what does this mean for Digital Marketing?
If successful, Cryptocurrency will become a lot more prevalent within society and marketing approaches will need to alter to support transactions of Crypto in E-commerce businesses. Getting your head around digital money now, could be the difference between an E-commerce business sinking or floating in the future.