Bitcoin Forum

Early this evening I was at a friend's housewarming party and I overheard a couple of his other friends talking about cryptocurrency. Since I do not know any of them, I decided to lurk behind and listen. One of them explains what cryptocurrency is and how it works until the whole conversation turned to the industries that will benefit from it the most. The group suddenly went quiet. I think they are lost. So what do you think? If more and more companies start accepting bitcoins and altcoins as payments, which sector do you think will benefit the most from it? The first thing that came to mind is supermarkets, simply because it is the one that most people frequent to. The other thing I could think of is the automotive industry as well as real estate. But what do you think?

Casinos. For me without doubt any companies related to games will be the most benefited. And today are already the best use case. Related companies I believe in great opportunities since it seems to me that the change of cryptocurrencies will be more universal than the exchanges between fiat.

retailing imagine the past
people paying money. that needed more people to count it at the cashier desk. needed then accountants to validate the balances. security guards to move it. CFO'(chief financial officers) to over see and supervise
bank tellers to take in the cash, bank managers. more security staff..

think of all the costs..
then bam
blockchain. now everything is calculated. checked, moved and secured.

now all a retailer needs is a retail store shelf filler that also unlocks the doors in the morning and close up at night

i know i over simplified. but yea. retailers can cut out alot of dead weight of paper pushing people in offices

It is hard to believe that they don't even have a single clue on what you asked unless they just only knew few things about crypto but not a total crypto enthusiast at all (Probably).

Of course the industry which will be risking to embrace blockchain technology. But stating a specific industry? It's very hard to tell. One thing is for sure, only the braver industry which are willing to risk against crypto's volatility will have the chance of succeeding.

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Anyway, my guess is anything related to food industry such as convenient stores, restaurants and fast food chains.

Telecommunications companies i think, Imagine almost all people have their own mobile and gadgets used daily, either in a way of communicating, surfing gaming, streaming & etc. all of these activities consumes data. What if one telcos company adopt a blockchain Technology and tokenize its platform??

Any industry can benefit from crypto because blockchain technology is so broad in application and function. We're already seeing this happen with a lot of more traditional fields like natural resources and supply because of the high efficiency of those fields. A flexible platform like EVT can be so incredibly beneficial to currently existing industries because they have so many idiosyncrasies while needing to constantly improve their efficacy.

It is good in the IT industry that there employees is also get benefit from it and due to online nature they can buy things over the Internet While for online shopping it is good to have those who are operating online shops it is useful for them and crypto currencies are beneficial for them.

The application of blockchain technology will benefit all kinds of industries in every countries and continents, all industries or goverment services make transactions everyday, and blockchain is so applicable in it, mas secured data transfer, money ar any documents. Blockchain is the best and it is for every businesses

I know your answer was about the retail industry, but do you think that banks could benefit from the blockchain technology as well? I wonder if the playing field will be even once they start running on blockchain too just like cryptocurrency?

Only one of them knows about cryptocurrency. The others didn't hear about it until that night. Frankly I think they are not sure they understand crypto at that time, hence the silence.
I was surprised you said the food industry. I was expecting more like the ones that pays big, like the ones I mentioned above.

I guess this makes sense, but I wonder if the cost of the data will be more expensive once it starts running on blockchain?

Yes, I think if you dictate the availability, be sure that all sectors will try to race to arm the digital currency

Cryptocurrencies are forms of electronic payment via online transaction so the most benefit of this industries are those who are engage in online transaction like online store, online gambling and online trading since cryptocurrencies are still not widely acceptable to other financial institutions its application for online banking is still limited.

Following the bounty Signature and the bounty article, I think it is very profitable, because I already feel the great benefits of the bounty Signature and bounty articles, besides that, by taking part in these two bounties we do not need capital or free, unlike trading that must use sufficient capital big.

Did you read OP's question?
Don't waste your time making answers that are not in the context of the discussion.

In my opinion, I think that the industry that will benefit most could be in the field of a payment system and the exchange sites where they surely gain substantial profit in every transactions being made. Most of the exchange sites were doing well in this industry and a lot more ICO's are doing the same thing since it is more profitable than any of the other project platforms.

In my opinion, the industry that benefits most from electronic money is the telecom industry. Because of this, the very essence of crypto exists and grows in dependence on the telecommunication industry. At the same time, other industries using electronic money also depend on the telecom industry ... Thus, the telecommunications industry is closely linked to the development of the Crypto market.

I don't think that anyone can accurately answer that question right now. The next generation of crypto businesses are just getting started and they are more likely to be traditional companies that are integrating Blockchain technology into the way they do business and using crypto as a fast and secure medium of exchange. Keep a lookout for ShareRing as they are launching in November and likely to do well from crypto.

logistic and supply chain industries are getting huge benefit from blockchain technology. also agriculture industry. indian prime minister also said that they are going to use blockchain for agriculture.

the supermarket is obvious just because it will certainly be a lot who Transact performance crypto on that field. much more I think but this will also depend on whether the existing policy was ready to accept the risks with the crypto transaction that occurs. the Casino would probably be the biggest and most visible to feel the results. coupled with the growing advances in existing technologies, will provide a good influence in the cause of the communication and transportation as well as it will increasingly feel be facilitated and practical with the crypto.

The business industry who get more benefits in Cryptocurrency is the banks,because most of the investor's,traders and Bounty hunters when they cash out fiat they need to make a transaction into the bank before they get it,and there are projects if the investor's don't have BTC or ETH to invest they allowed to use fiat and they need to deposit it into the banks before they get their tokens.

I think data recovery service also good business, but it very speciefic and hard field.

Crypto currencies are currencies and I guess any institute adopting this financial system will always get benefited from this. However if we go priority wise or lets say more closer fields then I guess companies like MasterCard and Visa which are payment processors in the real world will have the great opportunity via crypto world. As they are more or less into the financial stuff they will surely have the chance to get in with crypto as bold move for their company. Besides that electronic stores or malls may be accepting the crypto on larger scale as they are digital one and crypto payments would make them perfect investment. These are the two industries I believe will be the first one to accept the crypto on larger scale.

the industry that benefits is the currency exchange and escrow services sector. Exchangers will still benefit even if the market conditions are bad, because their income is from transaction fees made by their users. Whereas escrow, will be the third party needed, because there will be lots of cryptocurrency transactions and Smart Contract conditions that are not yet friendly, making escrow can be used as the best option to secure transactions

I think some industries that apply crypto will take many benefits. however, probably the companies that can take more benefits from crypto are the multi international companies, ecommerce, and other international market. This will help them to ease the transaction I think.

There are many industries which will be benefitted by the emergence of crypto and most of them are start ups and payment related organisations as international payment transfer is the domain which has gained a lot from crypto as we no longer have to pay hefty commission charges to transfer money globally and cryptos like ripple and stellar which are based on payment platform have already been benefitted.

Every type of business could have a benefit from crypto. It is vvery unique technology and its abilities are better and more far-sighted for the deal.

I think the financial sector will benefits more in blockchain technology innovation than any other industry. Transactions related industry like border less transfers also benefits.

You are right, the exchangers will get money at any cost. Either the value goes up or down they are benefitting for sure as transaction charges.

Military. It will have the largest benefit from this deal because they have a lot of holes in their sphere to get money in their pockets. I don't want to blame someone, but I think so.

To make in attention that crypto is a way of payment, I can make a conclusion that every sphere that is connected with trading will get its own benefit.

nice suggestions! i think pharmacy will benefit and modern medical equipment, too. surely something to do with logisitic and so on. but anyway, sooner or later all the sectors will adopt this

What's your reason behind those thoughts? The way price fluctuates and the volatility might cause problems for the businesses while operating. Again, lets not forget about network congestions and delay times when transactions are being confirmed. We still need to develope a lot before using crypto currencies as a form of transactions in real life.

I think that online stores will win, then gambling institutions, such as slot machines and casinos. And then everything else will go on top.

The two companies that would benefit most from the integration of Cryptocurrency payments is e-commerce and gambling industries, imagine if you could use cryptocurrency to bet and if you would use it to buy groceries or general merchandice.

whatever form of industry that will be run and combined with crypto, the most important thing is whether the government has accepted crypto existence as a platform in the form of industry. because in my opinion the level of progress that will be gained in the crypto industry merger will work if the government has legalized the presence of crypto in the country.

This is a very difficult question, because today many people do not even understand what BTC or blockchain is, so it’s hard for me to say while people in general do not understand what will happen in the future with this sector. Will it be integrated

All industries connected with document will benefit, because via blockchain most of papers will be validated and stored.
As for supermarkets I don't know, it won't affect them directly

Financial institutions, sport betting companies, gambling companies, gaming companies comes to my  mind first
that will benefit the most from blockchain technology.
In fact, any other sector can have benefit if there is a use case for using this new technology. The possibilities are countless.

While financial industry is the top pick by most, nearly all industries can benefit from cryptocurrency and its underlying blockchain technology. Just see the ICOs by category on icobench.com to see the industries covered.

The blockchain technology is wide in application and functioning. Platforms from ethereum or EOS or other altcoins are beneficial for currently existing industries, because they all constantly want to improve their work efficiency. The platform of one of the Altcoins can replace the financial system of one or several countries.

buying and selling of export and import commodities will get a very good impact
when developers start developing their projects for expedition purposes, the payment system will become simpler and certainly will not cost a lot
must have a good relationship with the local government, so that the blockchain really can transparently make all the transactions available, so that those who do the transaction will feel more comfortable

I think it will be the international business enterprise. sectors such as manufacturing and shipping. Because all transactions require a quick transfer and a lower transfer fee is required. Blockchain was born to serve such industries. Issues in international business, trade will no longer be a problem with blockchain technology. It enables businesses to transfer money faster and with cheaper fees, making the transaction and business better.

Good thoughts mate, definitely as much faster the transaction happens it will benefit to maximum industries. We also need to add general stores and malls and in supermarkets as well because a queue irritates everyone. This technology is very unique it should be implemented in the entire globe for new generation.

I actually agree to this. I also think Telecommunications companies will thrive most. For instance, a project came up late last year and early this year called Telcoin. The concept behind the project is to make humanitarian support reach out quickly to entangled and victims of different disasters that happens occasionally in different regions of the world through telecommunications prowesses.

If all of the companies are using crypto as their currency, I think the business industries which will benefit the most from cryptocurrency are any companies related to trading and traveling. Why? Because both are the most needed thing in our life. "Trading"; every single day we do many transactions, buy and sell anything. "Traveling"; every single day we go anywhere, to the school, to the office, to the market, etc.

The crypto industry may unexpectedly come to the state in the form of a coherent financial system. The banking system can also be replaced by a cryptographic one.

I think that in the future there will be a lot of projects that will use many tokens and coins, the whole matter will be only in human needs, it seems to me that everything will soon begin to change and we will look at this world differently

Definitely insurance and real estate business. I do not know what the real estate governmental part is called but the place that keeps the records of which part of the land and which flat and what not owns by who could really be imported into blockchain systems and you can keep a record of who owns what real estate and so forth via that system very easily.

Just give the ownership to someone on that system and if you want just change it on the chain itself. Would make a worlds difference for them. For insurance as well, you can make insurance claims and so forth via blockchain systems.

As long as insurance is kept on the blockchain there is no gray area, all records are there, what you have used and what you haven't used and all things in between will be kept there. It would be definitely amazing for these both business models, already been tried to do so far and it looks promising.

on large scale, clear only supermarkets will experience high enough profit. in conditions where the coins continue to rise and evolve naturally, this became a pretty good thing which increases nutrient coins will certainly be making enough grocery owned results doubled with many coins they have. However, this would also be detrimental when it can't play strategy with both the number of coins available.

Processor providers and manufacturers. They could sell GPU for huge price and people still were ready to buy them. I consider that nVidia earned a lot.

I think there are a lot of projects that are aiming to change the e-commerce industry. Moreover, the crypto industry will benefit from the variety of exchanges ICO, that were held in 2018.

In fact, any business industry will benefit from cryptocurrency, the matter is in the very approach of the state where this or that business is located, since the order of regulation of interaction of cryptocurrency and business as a whole plays a crucial role.

Electicity providers. It is the most obvious answer. Miners consume huge ammount of energy and it does not seem to decrease, so they are winners.

Gambling companies. When BTC was growing, BTC casinos earned millions every day, while people were ready to risk in completely new enviroment.

I also think of the power industry first. This is undoubtedly the most profitable industry from the crypto, there are many miners and electricity is indispensable to mining. I can't think of any other industry that can profit as much as electricity

It is the financial sector and the exchange trading market that embrace cryptocurrency will benefit the most from it. Industries cannot be pinpointed which of them will adopt blockchain so that cryptocurrency will be recognize, remember that cryptocurrency and blockchain are match in heaven.  So we cannot foretell anyway.

Energy and banking, I think. Blockchain should be used widely - I know projects such as Karate, but it's not the best time for them. I guess banking and financial systems will be first to use blockchain!

Every sector and every direction of our life where we use money, data, make payments and try to make it fast, in an easy and most secured way crypto currency with Blockchain may bring lots of benefits. Of course the main prise will be for that direction where the digital payments will be used. It may be market of goods and services, gaming, banking, exchanges. In my opinion the spectre is really wide.

First of all it depends on business profile model...
But mainly lower fees for transactions between two parties (international wealth transfer), logistics solutions on chain, usage of smart contracts between two parties, tokenizing valuation etc.

XRP owners. There are tokens that are controlled by teams, so they get the most of profits, when token price increases. That will be my answer.

Trade is the main engine of the economy of any country, whether external or internal. The remaining sectors only complement it. And of course the development and introduction of technology.

I have thought about this question many times and it seems to me that, like you, in the field of transport and real estate cryptocurrency will be the most popular.

All industries would benefit. But Those with a more challenge coming from inter country use, I means different currencies, would benefit more. For me I think the Financial and Exchange industry would benefit more. They are already benefiting from Blockchain technology. Faster transactions that are safe forms the backbone.

I think a better question is which industries will be displaced by Blockchain. Since Blockchain in its most basic form is an immutable ledger with distributed trust those industries that have been in the business of maintaining ledgers and using institutional trust as there main selling feature are the most vulnerable to displacement.

If bitcoin was adopted by every people and it becomes the main payment system then people are the one going to get more benefits as well as the people who is getting paid also whatever the industry will be because they mich save their money from using crypto currency like taxes and inflation.

The industry that benefits most from electronic money is telecommunications. Because of the retail industry, online payment, gambling, tourism ... To use crypto requires telecommunications technology...

I think that if banks start to cooperate and accept cryptocurrency, then in the future they will benefit greatly from all this

legislation,trading, supply chain, accountancy, the list goes on.

Organisation's will benefit more. Followed by individual startup. The people who will lose out most is the financial space as people will keep migrating to crypto as mass adoption sets in.

I think finance has been getting their share of benefits thanks to increases and decreases in bitcoin and crypto

in general because of the interest risen in people that makes them call their banks and request information about it. However aside from finance there is a lot of options for both cryptocurrency and blockchain solutions. First of all blockchain solutions have been getting more and more popular each day and getting more and more common however there has been a lot of discussion about what cryptocurrency itself can help out.

I think with mobile apps and payments with QR codes are really the play here, if they get more popular I think brick and mortar stores who are having trouble with online sales can defiantly use bitcoin and cryptocurrency to attract more and more customers easily just because of the popularity of it.