Consumers appetite for fast, secure and convenient payment solutions is intensifying due to the wide adoption of technology. The adoption of digital payment services has been wide spread and growing at a double-digit growth rates. This has led to tremendous growth for companies like PayPal (PYPL), Mastercard Inc (MA), Visa (V), further, technology and E-commerce companies Apple (AAPL), Alphabet Inc. (GOOGL) and Amazon (AMZN) forayed into this business. Cryptocurrency is a step forward in the digital payments world, that offers quicker, faster and safer online payments.
Digital Payments precisely online payments are moving towards Cryptocurrencies over traditional currencies that has superior advantages and benefits to offer to the online customers and its growth has been phenomenal in the recent years. GH Capital, Inc. (OTCQB:GHHC), through its subsidiary ClickDirectPay is actively pursuing its interests to extend its reach of serviceability on a global scale through blockchain and cryptocurrency.
Due to the unique advantages Cryptocurrencies bring to the customer and less complicated processing compared to traditional payment instruments, it has the potential to significantly change the financial tech industry and disrupt the preferences of customers. The concerns about the growth of Cryptocurrencies are slowly vanishing as these currencies market continued to hold its ground and the recent surge is a clear indication of the rise of these currencies after many years of slow rise. The total value of all cryptocurrencies topped $185 billion on November 1st, 2017. The world’s largest Cryptocurrency, Bitcoin alone has a market cap of $109 billion currently. Significant growth of Cryptocurrencies total market capitalization and volume over the past year certainly presents a compelling case for the future of Cryptocurrencies. The foray into the cryptocurrency by ClickDirectPay should open-up a host of growth opportunities for the company and its parent GHHC.
ClickDirectPay seems eager to be among the early adopters of Cryptocurrencies that would lay a solid foundation for the growth of GH Capital, Inc. As this blockchain technology backed cryptocurrency has the distinctive characteristics and superior advantages that the retail customers can’t ignore once they get hold of it.
In 2014 Square, Inc. (SQ) started supporting Bitcoin, resulting to sellers accepting Bitcoins for their goods and services from customers on Square Market. So, this is not a new phenomenon happening with ClickDirectPay, this gives investors and GHHC the confidence needed to move forward with a modern technology that hasn’t been tested and accepted by many and the assumed hurdles that comes with it.
United States of America which is a global hub for fintech products and a country which the world looks up to for technologically advanced products and services has adopted Cryptocurrencies well. With 1120 Bitcoin ATMs/Tellers, United States is leading the adoption of Cryptocurrencies in the world. It is not just in US, across the world people are using Bitcoins to buy products and services and to transfer money.
Source: Coin ATM Radar
US is the major country that most countries look up to before moving ahead with advanced technologies, growing adoption and usage of Cryptocurrencies by Americans signifies more growth and future for the Blockchain technology.
While people were skeptical about the usefulness and adoption of this currency at the initial stage that prolonged the growth of this currency after its creation in 2009. But after the initial adoption the growth is skyrocketing and this is expected to continue though there were few concerns about the decentralized authority of this currency, those concerns never proved any ill effects of this technology. Like all the modern technologies, this Fintech technology is also going through praise and criticism for its advanced features.
Advantages of Cryptocurrencies
One of the biggest advantage of Cryptocurrencies is that, it has the potential to improve global economic activity among customers in different countries with great ease, compared to traditional payment options. Traditional electronic payment systems have many processes and check points that delays the transaction, and exchange rates, transaction charges or other charges that different countries charge all add to the transaction costs. With Cryptocurrencies, all the transaction delays and different expenses does not come in the way of transaction making it more universal, cost effective and time saving.
Privacy & Identity Theft
Privacy and identity theft protection is another major advantage of Cryptocurrencies to the customers. Using the traditional payment method Credit card means giving full line of information about the credit card to the merchant, but a customer with Cryptocurrency can send whatever he or she wants to the merchant or recipient without any further information. Moreover, customer is in full control of his or her Cryptocurrency address, that means customer(s) own the private key and corresponding public key that makes up the Cryptocurrency address. The traditional electronic cash payment methods are controlled and governed by the provider that is not similar to having full control over the account. With Cryptocurrencies the customer can feel and use with greater security and without the fear of privacy and identity theft.
Control
Take for example PayPal, which freezes all of the assets held in the customer account if it perceives that the account has been misused. In the case of banks, they have the power to restrict the daily transactions to a certain limit, so, that they can charge extra fees and the amount of money one can transfer from his/her account. Many banks impose limits on transaction volume and amount of money that can be transferred. These kinds of limitations are not attached to Cryptocurrency accounts and it is not possible to add this kind of limitations to Cryptocurrency wallets in the future as well, due to the unique structure and ownership characteristic of the Blockchain technology.
Conclusion
Cryptocurrencies with its unique advantages and homogenous features of traditional electronic cash system, offers next generation user-friendly capabilities that are sure to attract the Generation Y and Millennials who are more interested in using technologically advanced and convenient products and services. This currency’s adoption is growing and it is in the initial stage of growth, early adoption of this technology should open doors for the growth of GH Capital, Inc., in a large scale across the world and I think it is time to take part and profit from the revolutionary product by investing in the company’s stock. GHHC is a strong buy in our view.
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