Bitcoin is a secure, U.S.-government approved digital currency, and it is gaining momentum via new and emerging companies while a handful of larger, established companies begin to experiment with it. While it’s one of 70 digital currencies available, Bitcoin is generating the most buzz and activity. So what should executives know about Bitcoin and its potential impact? Our point of view:
1. Bitcoin can be part of an innovation strategy for products, services and payment
systems. Listening closely to early Bitcoin advocates is key. The entertainment sector is
experimenting with letting consumers pay for new music downloads via Bitcoin.
2. Early adopters enjoy a public relations and marketing advantage. Being noted as a
Bitcoin innovator can potentially generate favorable press and social media mentions.
In 2014, social gaming company Zynga added Bitcoin to its most popular games and
garnered thousands of media mentions.
3. The value of Bitcoin is frequently fluid and roller coaster-like. Dynamic pricing of
products is needed with daily cash-outs and a trusted payment partner. In the tourism
sector, CheapAir.com has partnered with Coinbase to leverage those features
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PWC puts out positive report on Bitcoin - 'Driving Digital Innovation in Entertainment, Media and Communications'
