Are You Ready For the Bitcoin Rush?

Are you reasy for the bitcoin rush? If not, you’re missing out. This is the technology that is set to transform our lives (and not just our finances–look at the amazing things FitBit is doing for people) and anyone wanting to stay ahead of the curb in the coming business world is going to have to get to know the coin.

After years of unsure and erratic movement in the market, 2017 is going to be an important year for bitcoin. Yes, the start of the year was tumultuous in terms of the value of the bitcoin, but it has surged again and has exceeded the value of gold for the first time.

Changes are being made to the technology as we speak and these are set to improve the security and speed of bitcoins (amongst other things); when you combine this with the rising stock value with the new improvements set to come into play in the coming months, the increasing importance of bitcoin becomes very obvious.

Naturally, there are those who have seen the potential and are smartly entering the fray. Funding investments for the field were $550 million in 2016 and the interest was incredibly high in Canada.

What does this mean? Startups aiming to explore the bitcoin technology are in a good place. It’s a crowded place (interest is high across the globe and India, Germany, Japan and the Phillipines are currently aiming to emerge as the main hub), but that crowd is because of the incredible potential in the field.

Bridge21 is one of the companies that show the amazing potential of bitcoin. After all, the multiple currency systems used in today’s global market can create major hassles for corporations working across borders. Bridge21, seeing this issue, devised a system that uses the blockchain technology to provide a solution. Each member of the partnership deals with their own currency and bitcoin serves as the go-between, with the buying and selling of bitcoin being used in order to switch currencies. These transfers are quick and low-cost, providing upcoming startups with a service that will help them work on an international scale.

Of course, bitcoin’s potential extends beyond just trading. Used properly, it can help change the world. Connie Gallippi saw this potential and used it to create BitGive, a company designed to help people donate in a modern way. The first 501 non-profit to use bitcoins, BitGive is also modernizing how people interact with their charitable causes. Its GiveTrack system allows people to see how their donations are being used, letting them feel confident that their philanthropy was a good decision.

It is true that change is the only constant in life and our financial system is currently undergoing major (and necessary) change. These shifts will bring major financial benefits and the businesses (and entrepreneurs) that best embrace this new order will help lead us into the next stage of finance. Don’t cling to the past: Embrace the FinTech wave and the bitcoins that will change how you look at spare change.