SBI Group Wants to Make Bitcoin Cash a Currency for Daily Global Payments

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It is evident the future of Bitcoin Cash still hangs in the balance as we speak. Whether or not the altcoin is a long-term success, remains to be seen. If it is left up to SBI Group, that goal will be reached sooner or later. More specifically, the company commits to enabling a future world where BCH is used globally for daily payments. An honorable goal, but one that will be difficult to achieve.

Bitcoin Cash has proven to be a more than remarkable creature. It was created a few months ago and has been subject to a lot of speculation. Moreover, the Bitcoin Cash price is on everyone’s mind first and foremost. It will be difficult to see this as an actual currency instead of a speculative investment. However, there are plans on the table to change all of that. SBI Group claims they have the right plan to make this happen.

SBI Group has big Plans for BCH

So far, there are few options to spend BCH as a currency. This is not surprising, as it is the same for Bitcoin as well. Cryptocurrencies are often speculative in nature rather than useful. It is an unfortunate byproduct of the massive price growth all currencies have gone through this year. As there are more speculators in the market, this problem will not disappear anytime soon. Whether or not SBI Group can change that, remains to be seen. It is good to see the company give it a fighting chance, though.

SBI Holdings President CEO Yoshitaka Kitao states:

“SBI Group believes in the power of cryptocurrency to transform the world, and we are committed to build a leading cryptocurrency ecosystem. But for cryptocurrency to continue growing, institutional investors and individual customers need confidence in stronger security to protect their investment. As part of its emerging cryptocurrency ecosystem, SBI Group is pleased to work with nChain to develop an enhanced security system which will benefit the entire industry.”

This is good news for the Bitcoin Cash ecosystem moving forward. The currency is labeled as a peer-to-peer electronic cash alternative. Without day-to-day expenses being covered by BCH, that is nothing but a clever marketing gimmick. How all of this will play out, has yet to be determined. There is an interesting future ahead for all cryptocurrencies. Nothing is set in stone, and everything is still possible at this point.

Header image courtesy of Shutterstock

About JP Buntinx

JP is a freelance copywriter and SEO writer who is passionate about various topics. The majority of his work focuses on Bitcoin, blockchain, and financial technology. He is contributing to major news sites all over the world, including NewsBTC, The Merkle, Samsung Insights, and TransferGo.



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