ABSTRACT
Cryptocurrency can be compared with traditional banking in relation to the payment technologies that they offer. Cryptocurrency provides some levels of privacy, anonymity, safety, and is free for all who have Internet access. Traditional banking is not as fluid and agile as cryptocurrency. Cryptocurrency has introduced increased levels of flexibility and innovation in how currency is used and traded. Various industries have therefore embraced cryptocurrency to leverage these benefits. Banking, e-commerce, religion, humanitarianism, technology, tourism, and entertainment are the industries that have featured prominently in cryptocurrency use. While the banking industry was initially postured against cryptocurrency, as time progressed the banks adopted the technology and now offer cryptocurrency services to their users at varying levels. Industries such as e-commerce, humanitarianism, technology, tourism, and entertainment all welcomed cryptocurrency as it acted as a new mode of transaction for goods and services. In the sphere of religion, it has been argued that cryptocurrency is a “bad” currency as it is unpredictable and therefore relatively unsafe as an investment. These industries are explored to determine how cryptocurrency has been used, is being used, and how it can be better used in the future in all industries.
