Tech Giants focus on Blockchain Applications to Get a Lead in the ‘New Mainstream’
PayPal’s Venmo is already working on blockchain services toe-to-toe with leading exchanges
Last year, many PayPal users profited from the CoinBase integration allowing seamless withdrawals for crypto users. This was the tip of the iceberg for what is to come in the next months. Other fintech startups, like Revolut or Square’s Cash App, have proved that integrations with cryptocurrencies are highly profitable according to their revenue reports.
A Time of More Crypto Users
During the 2020 outbreak, people have been seeking safe havens and/or stable assets to preserve value. As a consequence, USD has been traded in high volume due to its popularity and strength but also other fiat currencies like the euro due to the shortage of economic activity in the USA.
But, there is also BTC and the altcoins. Established stable coins look better than decaying fiat currencies whose value was on the stake during the lockdown. Thus, in the past months, the wallet creation rate has followed an exponential growth. The following picture shows a 180-day behavior according to Blockchain.com on their wallets.
Although this graphic looks linear, when we zoom out to All-Time data, there is a clear exponential curve, which means more and more wallets are being used. Of course, this does not mean the same number of new users sign up but there is a correlation with the userbase and the newcomers in the crypto world to keep up with the tendency.
New Mainstream, New Services
What will become mainstream in the ‘new mainstream’? On one side, digital transactions have been highly favored in contrast to cash for hygienic reasons. Moreover, online services are also on the rise. Thus, top fintech look forward to positioning before a new massive wave strikes the world again — let’s hope that takes a while!
In the meantime, there is a silent race among niche companies like Paypal, Revolut, Neteller, etc. to implement new attractive — and useful — integrations. Some of them already allow BTC purchases but lack complete functionality, for instance, spending crypto in a third-party provider. Whenever we reach that point, it will be a sweet spot for crypto users.
Woonkly Aims to Decentralize Streaming Services
Aware of the market tendencies, Woonkly relies on state-of-the-art technology to improve the UX. On one side, there is the blockchain to provide the security and transparency of a decentralized network. On the other side, there is the streaming platform which is embedded in the ecosystem.
Thanks to the native token, WOONK, that pays for each interaction, the ecosystem synergizes. There is also a wallet, a campaign builder, and more features to come in the 3.0 version of the ecosystem. Woonkly is leading in innovation to improve the way we interact with ads, creating a more balanced and sustainable cycle for all the participants in the ecosystem. All thanks to blockchain and the latest technology available for online video streaming platforms.
More awesome news coming soon. Stay tuned for updates!
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