NetworkNewsWire Editorial Coverage: Bitcoin is rapidly being adopted and accepted as a valid form of payment, with major retailers like Overstock.com, Microsoft and Subway1 among several U.S. companies that now accept digital currency – or cryptocurrency – as a form of payment. Japan adopted bitcoin as an official currency in April 2017, which has been a major step forward for this cryptocurrency on a global scale. Savvy companies are rushing to profit from the growing acceptance of bitcoin, whether by aiding further accessibility or by applying digital currency as a payment solution for high-risk industries that are considered “unbankable.” Standouts in the bitcoin rush include ChineseInvestors.com, Inc. (CIIX Profile), SinglePoint, Inc. (SING), Bitcoin Investment Trust (GBTC), BTCS, Inc. (BTCS) and Bitcoin Services, Inc. (BTSC).
One of the major attractions of bitcoin is that it facilitates the transfer of funds independent of banks and, therefore, cannot be regulated by governments. This is a major boon for industries like the rapidly growing legalized marijuana market, which is currently hobbled by federal restrictions in the U.S. that deprive it of FDIC approval and cooperation from banks. The majority of U.S. cannabis businesses have been forced to conduct cash transactions, which has been…
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