Concert Tickets May be What Takes Bitcoin Mainstream
There are many reasons why KickCity is doing well at taking on the giants of the ticketing industry, with one of the most prominent being that it is the first ticketing platform accepting bitcoin as a payment.
Bitcoin is slowly trickling through industries and into people’s spending habits. Investing in bitcoin as a currency is becoming more prominent but is only one of aspect of investing with bitcoin. Many new companies are emerging based on blockchain technology and are achieving their funding through ICO’s, thereby raising these funds with cryptocurrencies.
With so much money being poured into bitcoin through various methods and for varying methods, the end result is that more and more people have money tied up in bitcoin and it is being seen more and more by the public as a legitimate currency.
Cashing out bitcoin is very expensive. Being charged to use wallets, unregulated and very high commission fees are some of the reasons that consumers are deciding to keep more money than ever before tied up in bitcoin.
What we’re now seeing from the amount of bitcoin that’s “just laying around” is that there is more available for spending on general purchase than ever before. Many industries, both big and small are seeing a greater number of vendors and service providers accepting bitcoin as a payment and the result is that people are spending it.
In 2017, the “Events Tickets” market total revenue is about $29,9 billions. It is expected to increase up to $50 billions in 2021.
The ticketing industry is a $30 billion behemoth that is controlled tightly by less than a handful of companies. Every prominent ticketing company is a multi billion dollar giant that has been getting away with charging outrageous fees and credit card processing charges that are disproportionate to what these companies actually get charged themselves. History has shown time and time again that these “too big to fail” titans generally get taken down by small companies that come up with a better system and unhindered by their size, can implement rapid changes and outpace the companies that had the monopoly.
In a way that companies like Uber and Airbnb were able to sweep the rug out from under much, much larger companies than themselves, we are set to see the same thing happen to the ticketing industry.
KickCity is the revenue generating startup that’s using blockchain as their vessel for delivering better services, faster and for a much better price.
While supporters of cryptocurrencies have been waiting years to see bitcoin change the finance industry and potentially one day eliminate foreign exchange, the trillion dollar a day turnover industry, it will still be a long time coming. Such industries are so tightly wound up in red tape, international law, federal regulations and endless other reasons which will see it take decades to achieve change.
With so many people relying on the finance industry to take bitcoin mainstream with the utilisation and acceptance at a level like fiat currencies, it’s easy to miss where the real change is happening.
KickCity is unwinding the $30 billion ticketing industry and is the first company in the industry to accept bitcoin for payment. Once a large slice of the $30 billion pie is being paid for with bitcoin, it will not be long before most industries follow suit and wake up to the change that is coming.
Disclaimer: Statements in this article do not represent the views or policies of anyone other than myself. The information on this site is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities.