Bithumb is a powerful cryptocurrency entity in South Korea as of right now. The company has made a lot of positive headlines, and they will continue to expand their reach as well. A new venture has been announced which involves a P2P payment platform for social media. It’s an interesting concept well worth paying attention to.
Bithumb Continues to Evolve
Getting cryptocurrencies into the hands of more people will always be a big challenge. This is the case in part because so many people hold ill will toward cryptocurrencies. Addressing that situation requires innovative measures by industry-leading companies. Bithumb seemingly has the right idea, as their new venture sounds pretty appealing.
South Korean sources report that Bithumb plans to launch a peer-to-peer payments platform for social media. This venture will seemingly relate to both social networks as well as blogs, which should get a lot more people excited about Bitcoin and altcoins moving forward. We haven’t seen cryptocurrency make the best impact when it comes to social media.
In fact, most social media giants are taking an aggressive stance toward cryptocurrencies. Both Facebook and Twitter made this pretty clear by banning crypto-related advertisements on their platforms. Even so, there are still plenty of options left to explore, as companies such as Pinterest and Instagram are still open-minded as of right now.
With the new P2P payment platform, Bithumb is heading in an interesting direction. The South Korean company acknowledges cryptocurrencies need to continue making inroads, even though doing so will not be all that easy. How their new platform will try to tackle this area without getting banned in short order remains to be seen.
The company also announced another interesting piece of news. It appears Bithumb has signed a strategic partnership with Wincube. Although that company is not necessarily well-known outside of South Korea, they offer mobile vouchers from hundreds of brands. Bithumb will now help them sell these vouchers in exchange for cryptocurrency payments, which brings a new use case to Bitcoin and other currencies.
Whether or not either of these plans will bring more positive attention to cryptocurrency remains to be determined. It is certainly a positive development for the industry as a whole, although these efforts will most likely remain limited to South Korea for the time being. On an international level, we need more of these efforts, but they will not necessarily come about anytime soon.