Business

Businesses That Is Using Bitcoin – The List Is Growing

The more blockchain is gaining ground as a valuable and valid business platform, the more bitcoin is gaining acceptance as a currency. Take note this applies to all cryptocurrencies available in the market today. The blockchain is gaining popularity as one of the best platforms for groundbreaking and innovative companies. In fact, some major game players are using the technology as well as bitcoin. The following is a list of some of the companies embracing this technology.

IMAGE: PIXABAY

NASDAQ LINQ

In the blockchain experiment, this is the company that is ahead of its competitors. Before you get too technical about what the company does. It is considered as the record keeper and trading platform for companies preparing a public initial offering (IPO). So, you may be wondering what such companies have that Nasdaq LINQ can offer.

Pre-IPO investment is not a walk in the park. There is a lot of paperwork involved and verification of monetary transactions. That said, NASDAQ specializes in eliminating the majority of facilitation, accounting, and legal costs. It is basically a private blockchain, which develops a substantial historical record of any trading. It can also be considered to be a form of Bitcoin Trader that works differently from others in the market.

Open Bazaar

It is an open source created with the aim of developing a de-centralized network using bitcoin for peer-to-peer commerce online. It ensures no restrictions are affected, and no fees are implemented. It circumvents the traditional e-commerce model usually found in companies and websites like Amazon and eBay. Such sites need the use of PayPal and credit cards. Additionally, the platform ensures the buyers relate to the seller. The middlemen, in this case, are eliminated by using a third-party verifier to mediate the exchange of goods.

Sellers and buyers need to be kept safe during a transaction. This is done by ensuring they are kept in a multi-signature key (multisig). The key is a queue that can only release payment when more than two parties of the same exchange come to an agreement. When this number is met, it releases money to the seller. Contracts are written and signed using an online platform. Payments will be held in the multisig until the buyer and seller are satisfied with goods delivered. Apart from allowing a third-party, an impartial one, to moderate disputes, it helps users avoid scams.

Ujo

Ujo can be defined as an application used to build homes for artists. The homes are designed in a way that allows the owners to control and own their creative content while being paid directly for sharing their works with the public. There is always tension between fans artists, DSPs, legislators, PROs, labels, and publishers. It used blockchain to rethink the music industry and provide a one-of-a-kind service.

Imogen Heap’s Tiny Human was the first prototype they used to demonstrate proof of their concept. The purchase of licenses to sync, remix, stream, and the download was facilitated by Ethereum blockchain. Payments, in this case, were sent directly to the artist and anyone involved without involving middlemen.

If you are interested in even more business-related articles and information from us here at Bit Rebels then we have a lot to choose from.

Author Bio: Jim Bevin is a passionate writer, guest blogger, and a social media enthusiast. The primary focus is writing high-quality articles after in-depth research and make sure it is a readers delight. Information is key and he abides by the rule of writing articles that will appeal to a broader audience. He has published various articles on authoritative magazines like TripOnTech, Social Media Explorer, ThriveGlobal etc.