Is the Growing Interest in Cryptocurrencies A Good News for Blockchain-based Platforms?

The global pandemic has taken a toll on all industries. While some businesses and investments are witnessing downfall, a few are flourishing. Blockchain-based applications and cryptocurrencies have made it to the latter list owing to their ability to withstand the economic crisis. 

Latest news suggest that the trend is here to say: Akon, the American-born Sengelese singer who won our hearts with 'Trouble' and 'Freedom' recently announced the release of his cryptocurrency, Akoin.  

According to Lynn Liss, chief operating officer of the foundation, Akoin will be a new cryptocurrency for Africa and other rising economies. It will be supported by their ecosystem of DApp/App partnered tools and services for entrepreneurship and economic inclusion. 

Akon has 27 songs on the Billboard 100 to his name, he has sold more than 35 million albums globally. What puzzles many is the factor that prompted Akon to dive into blockchain. 

The actor cites a trip from Dakar to Paris he took a few years back when he wanted to convert the Senegal currency he was in possession of to Euro. To his surprise, the employee at the currency exchange turned down his request.  

“Unfortunately, we don’t take those,” he said. 

“I’m like, ‘What?’” recalls Akon. CFA francs are used in most parts of French-speaking West African countries, including Senegal, but it is almost impossible to spend them once you are traveling outside. 

“It just goes to show the relevancy of why digital currency is such a futuristic event and how this is the future as we’re moving forward. There are going to be digital currencies that will float through the whole universe that allow us to trade in a way that we’re already accustomed to -- but now it’s going to be the norm,” says Akon.

Akon is not the first celebrity to show interest in blockchain. Manny Pacquiao launched the PAC coin, the world’s first celebrity cryptocurrency, in 2015. It is listed on Singapore’s Global Crypto Offering Exchange (GCOX). 

In 2018, rapper Kanye West spoke in reference to Harriet Tubman becoming the new face of the $20 bill:

“That was the moment that I wanted to use bitcoin when I saw Harriet Tubman on a $20 bill. we should look forward to the future to inspire progress.” Later, his tweet “decentralize,” ignited a debate on Twitter about blockchain. 

Snoop Dogg, Ashton Kutcher, Lionel Messi, Paris Hilton, and Serena Williams are some other stars who have publicly backed blockchain. Chainsmokers, the popular American EDM-pop duo had earlier supported a new blockchain-based ticketing platform. Back in 2013, Snoop Dogg sold his albums at 0.3 BTC, when bitcoin was still emerging as a global phenomenon. 

Bill Gates is not only one of the richest persons in the world but he is also a very well known investor. He reveals that he once was gifted bitcoin for his birthday. In his words, Bitcoin is exciting because it shows how cheap it can be. 'Bitcoin is better than currency in that you don’t have to be physically in the same place, and for large transactions, currency can get pretty inconvenient,' he says. 

In 2013 during an interview for CNBC, Ashton Kutcher said “I think bitcoins are obviously becoming more and more relevant.” His investment in UmikoinGold along with billionaire Mark Cuban had made headlines. 

Blockchain Platforms, the Future of Technology

Blockchain technology hosts a trustless ecosystem which essentially means parties involved will have more confidence in each other not because of their individual qualities, but because of the immutable ledger drawn by blockchain. Unlike traditional set-ups, there are no middlemen on blockchain platforms. The system is the authority, leaving little room for bias and fraud. Above all, the privacy of all parties involved in the transaction is ensured through smart contracts. This comes across as a blessing in the age of privacy intrusions and data embezzlements. In the coming years, apart from celebrities, laymen will come forward in support of blockchain, mass adoption of blockchain and cryptocurrencies is not a distant dream. 

Blockchain for Advertising, Armacoin Leads the Way

The COVID-19 pandemic and how it has stalled lives served as a catalyst for Akoin and it will be for more blockchain-based ventures. Digital advertising platforms are failing us due to their ever-rising costs. 

Advertising ecosystem that guarantees privacy and transparency along with a glitch-free user experience are the need of the hour. In a post-COVID era, blockchain-based platforms will undeniably grow to play a huge role in reviving businesses through decentralized advertising. 

Armacoin is the world’s first decentralized advertising platform built on a blockchain network. Armacoin aims to change the way we have known digital marketing through a tokenized reward system. Here, along with ensuring transparency and privacy, Armacoin also pays the audience for the time they invest in the platform. They are shown ads they choose to watch rather than bombarding them with ads based on the information garnered from their browser history. The advertising ecosystem put forward by Armacoin is more audience-friendly.

Armacoin users can make Armacoin GZM coins along with engaging with their peers, advertisers, and the audience on the platform. This way, the platform aims to grow by making the audience a part of the ecosystem. The value of Armacoin GZM coins rises as the engagement on the platform increases. The audience, who are holding Armacoin GZM coins in their wallets will be directly interested in the growth of the platform. Their affection for brands increases and the conversion rate improves as a result. 

The future is going to be run by blockchain-inspired applications, there is no two way about it. Prominent investors, celebrities, and businessmen have been actively coming out and declaring their love for the decentralized, democratic network. If a venture wants to stay in the business for the long run, they have to incorporate blockchain technology into their operations. Armacoin aims to bring blockchain to every business and household with our super-efficient reward system. If you haven’t tried our futuristic platform yet, visit armacoin.info.