Paying Your Bills via Cryptocurrency Is Gaining in Popularity
Cryptocurrency has come a long way since its inception in 2009, ever since it took its very first tentative steps in creating a revolutionary decentralized market. It has developed from a single cryptocurrency that was worth just enough to buy yourself a pizza with, to a multibillion-dollar market, composed of thousands of coins and tokens.
Although cryptocurrency, or the idea of virtual money, has been tinkered with ever since the 1980’s, it wasn’t until 2009 where cryptocurrency started to gain serious attention. After the 2008 economic crisis in the U.S., a mysterious person or group, by the name of Satoshi Nakamoto, who has not been identified to this day, released a whitepaper which solved the double-spending problem that all previously attempted digital currencies were not able to move past – and in the process created the technological backbone of that would later come to be known as blockchain.
This new technology represents the cornerstone of cryptocurrencies, that has been built and improved upon ever since. Blockchain was designed to diminish centralized roles; this led to smart contracts that were specifically created to reduce third-party involvement – even to the extent of being able to eliminate them entirely in certain situations; thus the potential for cryptocurrency to steadily replace fiat money was unlocked.
One company who understands the importance of blockchain and cryptocurrencies is Restart Energy – developing an entire platform that gives people the freedom of choice regarding their energy provider, and much more. Thanks to its decentralized, peer-to-peer (P2P) structure – based on smart contracts coupled with blockchain elements – Restart Energy will be able to deliver a unique service to its customers on the platform.
The Restart Energy Democracy Platform (RED-P) was created with the vision of democratizing the energy sector – to give people both the ability to choose their energy producer, as well as have a closer relationship with these – leading to better prices for all involved. Through their upcoming platform, users can select to buy energy from whomever they wish, anywhere in the world, at local rates. This brings forth a plethora of alternatives for energy consumers who wish to select the best energy source at a reasonable price – even allowing users to opt for 100% green energy.
Furthermore, the platform supports prosumers, enabling them to sell their surplus electricity back into the grid. Such a role is highly sustainable due to the fact that all technical installations and maintenance will pay for themselves in the long run.
Already, Restart Energy customers can choose to pay their bills with Bitcoin, through ZebraPay, since September 2017 – this is rather significant, as it marks Restart Energy as being the FIRST private energy supplier in the EU to offer such billing services. Come the launch of the RED platform, more options will be made available for invoice payments, including more crypto-token possibilities – including their own MWAT and KWT tokens.
Energy is not the only service that can be procured with cryptocurrency. Lately, crypto enthusiasts have started benefitting from a profusion of choices, regarding how to spend their crypto tokens. Cryptocurrency, especially Bitcoin, can be used to purchase a large variety of things these days – from commodities such as vacuum cleaners, mattresses, a great variety of aliments or beverages, and even cars! The available options greatly depend on your country of residence though, as some – Japan comes to mind – have more freedoms in regard to crypto shopping than other, more restrictive legal frameworks.
With so many possibilities surrounding cryptocurrency, and the speed with which it is developing, soon enough we should not be surprised if most of our shopping will have an option for coin or token payments. Are you ready for crypto?
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