The past few decades have seen an incredible transformation of the global economy in almost every part of the world. There are quite a few factors that have contributed to this major change. Yet, the fact is that our daily lives are drastically different from what it used to be for decades and even centuries. Gadgets and mobile devices have become an integral part of our reality. The vast majority of the global population is now present on social media in some form, giving such platforms an enormous power. Businesses and personalities benefit from the worldwide web, using it to further grow their publicity.
The changes come as a result of a major gap between the mindsets of different generations. For example, millennials who used to be considered the youngest and the most innovative part of our societies are not the frontrunners anymore. Generation Z-ers, or those born from the mid to late 1990s until the year 2010 are turning the world order upside down. They are the true technological generation of modern times.
Technology is the real driving force behind what we are witnessing today. The global economy is becoming more digitalized than ever before as the absolute majority of people now own a gadget and have access to the internet. Internet users effectively create the largest audience on earth. That is why online spaces have quickly become the most popular area for promotions and advertisements across the globe.
Technological development has been evident as software and hardware revolution has led to immensely capable machines we see today. Yet, besides industries that are directly related to technology and its development, some sectors that were previously not linked to started becoming increasingly digital.
One of the best examples of this trend would be the financial industry. Traditionally, finance has always been a conservative sector where money was made in rather well-tried ways. Yet, the rise of the 21st century transformed the industry and the globe through cashless payments, contactless cards, and eBanking.
There is practically no commercial bank in the world without their very own digital platform. Two of the most popular means are mobile banking and web banks through which customers can perform a diverse range of operations that would previously require visiting a branch. However, these days, one can easily transfer money from one side of the world to another in a matter of minutes at low costs and with high convenience.
Moreover, trading has also established itself on the internet as a growing number of Forex platforms are gaining momentum around the world. Years ago, this would have been unimaginable amid the lack of technological means. Today, the sector is competitive that some platforms have to offer exclusive bonus systems to attract more customers. XM welcome bonus is offered to new customers by one of the most popular Forex trading platforms. Their representatives asserted that without such promotions, gaining popularity is almost impossible for newly established companies.
The rise of Bitcoin
Yet, the biggest innovation within the financial industry throughout the 21st century has to be the launch of cryptocurrencies. The year 2009 was when Bitcoin, the world’s first decentralized virtual currency was introduced, making international headlines from Japan to the UK and the US. In 2017 Bitcoin’s price hit the record high of almost $20,000 while also surpassing the $10,000 mark for the first time. This has made it the most successful cryptocurrency on earth. There is an enormous demand for it as the community of Bitcoin enthusiasts keeps expanding.
Why is Bitcoin an incredible marketing tool?
As the world is facing the novel coronavirus pandemic we all as well brace for the unavoidable financial crisis expected to be the worst since the great depression. Yet, social distancing practices as a result of the contagious character of COVID-19 have further bolstered the significance of the digital economy in the 21st century.
Bitcoin is not just a regular currency. Yes, it is digital, but that would not be a major advantage for it in the world full of credit cards and neo banks. Rather, the significance of it comes with the blockchain technology and some of its features. Bitcoin runs on it, making the currency one of the safest in the world. Operations performed with Bitcoin are secure and almost impossible to trace as if needed, only Blockchain IDs are visible during transactions that do not carry any personal information.
Yet, taking into account that it runs on a blockchain, which by itself is an enormous database consisting of countless dots, Bitcoin as well is extremely transparent. This in fact is a prime reason why many businesses and individuals use it for transactions big or small. It is difficult to hide information during legal proceedings with Bitcoin.
Importantly, Bitcoin is rather efficient and convenient, particularly for small businesses. For such companies, every cent counts on tight budgets. Bitcoin operations come at low or no commissions and added costs that some small businesses would simply not afford.
In recent years, Bitcoin has gained lots of attention form governments as well. A growing number of nations recognize cryptocurrencies as a means of finance. However, when it comes to marketing, Bitcoin has to thank some of the most influential mega-companies in the world.
Due to its soaring popularity, Bitcoin has been recognized by a number of companies, such as Subway, Microsoft, and Playstation. One of the most popular booking platforms Expedia allows payments in Bitcoin amid high demand. Many other businesses that would not be as noteworthy already recognize Bitcoin and use it on a daily basis. Because of its diverse range of benefits and highly digitalized character, Bitcoin is a major marketing tool of its own. It does not need any additional promotion and even helps companies gain further customers.