Crypto And Blockchain Startups Set Their Sights On The Global Payment Industry

When Tesla announced in February that it would accept bitcoin for its electric vehicles, the crypto world rejoiced. Here was a publicly traded company, fronted by a billionaire publicity machine, endorsing its status as a medium of exchange. The asset’s reputation as a store of value, meanwhile, was burnished on the markets as it soared to fresh all-time highs above $44,000. 

Fast-forward a few months and it is a very different picture. Not only has Tesla reversed its decision to accept bitcoin payments, citing concerns about its energy usage, but the biggest cryptocurrency lost 30% of its value during Black Wednesday, once more underscoring its inherent volatility, and fuelling the views of those who consider it an unviable…

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