Despite the promises that bitcoin will be used for everyday purchases, many businesses that were initially bullish have stopped accepting cryptocurrencies (e.g., Expedia). Instead, many think they can turn to “blockchain” to improve their own business systems (e.g., reducing credit card fees and managing loyalty programs).
Further Reading: Op Ed: Is the Age of Bitcoin-Powered Discounts Finally Upon Us?
Ian Foley is a cartoonist, writer, serial entrepreneur and investor focused on enterprise software. Living in Silicon Valley, he has founded or led sales at four startups, all at the forefront of new data technologies.