Digital digest- Cryptocurrency

1. CRYPTOCURRENCY
Submitted to: SUSAN MCVEY
Student Name: MEHAK SAKHUJA
Student Number: 161348214
msakhuja@myseneca.ca

2. What is
Cryptocurrency?
A cryptocurrency is a digital currency
designed to work as a medium of
exchange through a computer
network that is not reliant on any
central authority, such as a
government or bank, to uphold or
maintain it.

3. Cryptocurrencies first emerged in
2009 when the world’s first
decentralised currency, Bitcoin, was
created. The core idea behind
cryptocurrency was to create a
secure and anonymous way to
transfer currency from one person to
another, and since then its value has
skyrocketed and it’s been heralded
as ‘digital gold ‘amongst its users.
Evolution of
Cryptocurrency

4. Crypto
Market
Share
• The global cryptocurrency market size was
USD 826.6 million in 2020
• The impact of Covid 19 has been very
unfavorable across all regions amid the
pandemic.
• The global cryptocurrency market is
projected to grow from $910.3 million in
2021 to $1,902.5 million in 2028 at a CAGR
of 11.1% in forecast period, 2021-2028.

5. Source: Statista (Seneca library)

6. CRYPTO
MARKET
GROWTH
2020
$826.6 Million 2020
2021
$910.3 Million 2021
2028
$1902.5 Million 2028
(Forecasted)

7. What can crypto do for your company?
Here are some of the reasons why some companies are presently embracing crypto to get
your company thinking about it:
• Cryptocurrency may open doors to new demographic groups. Users frequently represent
a more cutting-edge clientele that places a premium on transaction openness. According
to a recent study, up to 40% of clients who pay with cryptocurrency are first-time
customers, and their purchase amounts are twice those of credit card users.
• Introducing crypto today could help your firm become more aware of this emerging
technology. It might also help the corporation position itself in this key developing
market, which could incorporate central bank digital currencies in the future.

8. What can crypto do for your company?
(Cont.)
• Traditional investments that have been tokenized, as well as new asset classes, could give
crypto users access to new capital and liquidity pools.
• Cryptocurrency offers a number of advantages that fiat currency does not.
Programmable money, for example, can enable real-time and accurate income sharing
while also increasing transparency and facilitating back-office reconciliation.
• More businesses are discovering that critical clients and vendors want to work with them
via cryptocurrency. As a result, your company may need to be set up to receive and send
cryptocurrency in order to ensure smooth transactions with key stakeholders.

9. Examples of Crypto Marketing Campaigns
• KFC
KFC launched an intriguing social media crypto marketing campaign in 2018 called
the Bitcoin Bucket, which referred to their meal bucket offer but was paid in
Bitcoin. The KFC chain in Canada did this, and to no one's surprise, it was a huge
success.
The goal of the campaign was for customers to see this method of payment as
something distinctive that would add value to their shopping experience. They
could think it's cool to pay for their KFC with cryptocurrency, for example. In their
minds, this adds value to the KFC brand, increasing the likelihood of their returning
to the restaurant and, as a result, increasing the likelihood of them becoming loyal
consumers as a result of this element.

10. Source: bettermarketing.pub/accepting-crypto-payments-as-a-marketing-campaign-
5ce39a3b3063

11. • SUBWAY
Even Subway, a massive fast-food restaurant with several locations, has begun to
accept Bitcoin and Litecoin in various locations across the world. This has brought
in many new consumers just by offering a simple piece of value.
This considers the same issue of perceived consumer value as in the KFC example,
as well as most businesses in general, regardless of what they sell. This, in my
opinion, is a fantastic method to develop future marketing efforts that focuses on
the use of crypto payment as a form of advertising.
Businesses can also help to raise cryptocurrency awareness by doing so, allowing
more people to believe in this sort of digital currency and the benefits that the
digital era has to offer.

12. Source: bettermarketing.pub/accepting-crypto-payments-as-a-marketing-
campaign-5ce39a3b3063

13. Impact on
Global
Investments
Cryptocurrencies provide several advantages in terms of
frictionless transactions and inflation control, but many investors
are adding these currencies to their varied portfolios.
The market's noncorrelated character, in particular, makes
cryptocurrencies a possible risk hedge, like precious
commodities such as gold.
For this reason, many cryptocurrency exchange-traded funds
(ETFs and ETNs) have emerged.

14. Competitive
Advantage
Most markets' concentration will have increased
by at least 15% by next year and into the near
future. This means that standing out and
attracting new customers will become
increasingly challenging. As a result, by accepting
cryptocurrencies as a form of payment, you
might attract a lot of new clients.
From a marketing standpoint, this concentrates
on a distinct feature that will undoubtedly
become the norm for most, if not all, firms. You
might regard this as not just a competitive
advantage, but also a way of establishing a
customer base for the foreseeable future, which
will help your company to get to the top of the
market.

15. CONCLUSION
Cryptocurrencies are slowly gaining traction around the globe. Instead of using standard
financial banking procedures, businesses choose to use alternative currencies to conduct
transactions. These currencies use decentralized networks and are based on blockchain
technology.
Overall, digital marketing appears to have a promising future when integrated with
cryptocurrencies.

16. WORKS CITED
Tapalaga, A. (2020, January 7). Accepting crypto payments as a
marketing campaign. Medium.
https://bettermarketing.pub/accepting-crypto-payments-as-a-
marketing-campaign-5ce39a3b3063
Group, F. V. (2022, April 7). The impact of cryptocurrency on
Digital Marketing. Flying V Group.
https://www.flyingvgroup.com/blog/2021/11/11/impact-of-
cryptocurrency-on-digital-marketing/
The evolution of cryptocurrency. Cavendish Professionals. (2021,
September 15). https://www.cavendishprofessionals.com/the-
evolution-of-cryptocurrency/

17. Thank you