29 September 2017
Cryptocurrencies Will March On Unfazed
In Global Finance Magazine, Denis Baranov, principal consultant at DataArt, comments on the corporate world’s growing use of internal cryptocurrencies.
“'The bad reputation of cryptocurrencies like Bitcoin and the adoption risk associated with new technologies like blockchain won’t prevent corporations from issuing their own cryptocurrencies for internal use.'
Baranov’s comments come in the wake of news that Burger King in Russia has issued Whoppercoin, a cryptocurrency that enables customers to buy a signature Whopper burger once they have amassed enough coins…Baranov says we are likely to see similar announcements from other corporations over the next 12 to 18 months, particularly in less-regulated markets like Russia and Asia, as companies seek to leverage the benefits of using an internally controlled cryptocurrency for, say, saving costs in cross-border payments between branches… 'Cryptocurrencies used and controlled internally by a company are less susceptible to hacking or fraudulent use'”