Black Friday is almost here. The annual spectacle of rabid consumers fighting over what they surely believe is the last discounted LCD TV in existence always makes entertaining viewing on YouTube. For those who prefer their consumerism to be a little less conspicuous, Cyber Monday offers the opportunity to haul in bargains from the comfort of your own armchair.
Even despite the insanity of huge crowds fighting with one another, retailers love Black Friday. They’re prepared to offer such hefty discounts precisely because they lure shoppers into parting with serious amounts of cash. This year’s forecasts anticipate 2018 to be the first year that the average spend per US shopper tops out $1000, with total US spending over $700 billion.
How Are Shopping Holidays Done in Other Countries?
The popularity of Black Friday has now spread across the Atlantic. In the UK, it is a more recent phenomenon, only gaining popularity five years ago. However, Black Friday is now the most popular shopping day of the year. Other European countries such as Romania have also adopted the practice, although to a lesser extent and on different dates.
Outside of the west, other countries may not have a Black Friday, but they definitely aren’t missing out. In China, Singles Day started during the 1990’s as a celebration for the unmarried – a kind of anti-Valentine’s Day. The symbolic date of November 11 was chosen, as the “11/11” numbers represent single, stick-like figures.
By 2009, online marketplace Alibaba quickly recognized the marketing potential in a growing culture of online shopping, and Singles Day is now the biggest shopping day in China. This year, Alibaba beat last year’s 24-hour Singles Day sales of $11.4 billion in just fifteen hours.
In India, the shopping boom is timed around the run-up to Diwali, the Hindu festival of light. Several retail sectors in India see around 30%-40% of annual sales during this period. Due to a current high GDP increase and a good monsoon season, sales this year were expected to reach double-digit growth.
Shopping Discounts Now Available to Crypto Users
Many savvy retailers are now seeing the benefits of accepting payments in Bitcoin and other cryptocurrencies during the big shopping holidays. For cryptocurrency enthusiasts, this is great news. Not only does it mean the opportunity to snag a bargain with digital money, but it also helps cryptocurrencies gain exposure. This increases the chances of mainstream awareness and adoption, which could help pull Bitcoin and other cryptos from the depths of the current bear market.
For some years now, Bitcoin Black Friday has been collating deals from merchants around the web who are willing to accept Bitcoin for their Black Friday deals. While Bitcoin users in China have suffered from the ongoing threat of regulation, some crafty intermediary services, and cryptocurrency debit cards mean those eager shoppers can still bag a Singles Day deal if they are prepared to jump through a few hoops. Although, they’ll have to wait until next year now. The same applies to shoppers in India, given Diwali is now over for this year. For any crypto users looking for Diwali deals, IndiaBitcoin rounds up what’s available.
From Black Friday to Crypto Sunday
Crypto users around the globe could now bag a deal later in the year during their very own shopping holiday, thanks to Coinmama. It’s launching Crypto Sunday, which will happen annually on the fourth Sunday of November, starting on November 25, 2018. Coinmama states that the goal of Crypto Sunday is not just to save money, it’s also to boost awareness and adoption of cryptocurrencies with the goal of helping them to go mainstream.
Coinmama itself is kicking off events by offering packages of up to 100% off its exchange fees. Crypto Sunday has also signed up many other merchants willing to offer deals and accept payments in BTC and other cryptocurrencies. Some of the biggest names include Microsoft, Expedia, and Overstock. However, there are many, many more available on the Crypto Sunday website.
If you’re thinking of making any purchases this weekend, and have cryptos to burn, then it’s worth checking out all the available deals to see if you can bag a discount. Crypto Sunday is open to everyone, although the deals on offer may be country-specific in some cases. However, merchants accepting crypto can also sign up their deals on the Crypto Sunday website.
Making and accepting payments in digital currencies will ultimately help to ensure that cryptocurrencies hold their value in the long-term. Plus, crypto-shoppers have the genuine opportunity to bag bargains that may be otherwise unavailable to the average fiat consumer. It’s a win-win scenario.
Recruit’s funding division, RSP, announces investment partnership with COTI blockchain enterprise.
Recruit, a Japanese-based investment enterprise with a $50 billion market cap, announced that its next major blockchain investment will be in COTI. COTI is a revolutionary, block-less and miner-less blockchain designed to solve many of the scalability issues faced by cryptocurrency. Recruit has established a blockchain specific Blockchain Tech Fund in response to the growing number of opportunities within the blockchain space.
What is Recruit?
Recruit is an international investment leader offering a stake in all stages of business investment opportunities across a variety of tech industries. The company has a particular interest in blockchain, fintech, robotics, AI, and business application services. Companies including BitFlyer, Shift, Udacity, and 99Designs have benefited from strategic investment partnerships with Recruit.
Recruit created its Blockchain Tech Fund specifically to address the enormous potential of blockchain technology. To support the unprecedented expansion of blockchain-based technological advances, a high level of support from traditional investment partnerships and business models is necessary.
The Recruit Blockchain Tech Fund provides rapid funding of auspicious blockchain technology projects. RSP funding is available throughout all stages of project development, from seed round through growth and expansion.
The Blockchain Tech Fund uses token fundraising to support new business model development in its investment partnerships. This strategy effectively promotes blockchain business expansion as well as mainstream blockchain adoption.
Appeal of COTI
COTI, or Currency of the Internet, offers a unique and promising solution to a global issue using blockchain technology. This issue is scalability.
Regardless of technological advancements, traditional blockchain structures have proven incapable of scaling to meet the needs of a global market. This is particularly true as blockchain expansion continues to move into mainstream business fields.
COTI is based on a Directed Acyclic Graph [DAG] protocol. This structure eliminates both blocks and miners, drastically reducing size and energy expenditure. According to COTI’s website, the platform seeks to provide transaction services at a lower cost than even fiat payments.
Using COTI, organizations can build unique payment solutions. By digitizing a currency of choice, payers and payees can save time and reduce the significant cost of transaction services.
Further bolstering its security capabilities, COTI stores funds in offline, cold wallets, safe from hacking and cyber attack.
COTI and RSP
As COTI and Recruit move toward similar end-goals, promoting and developing the expansion of blockchain technology, both companies recognize the potential for widespread blockchain benefit.
Shahaf Bar-Geffen, COTI CEO, stated,
“We’re pleased to have made it on the radar of the RSP Blockchain Fund and its larger mission of making leading blockchain projects known to the world at large. This is a notable accomplishment for COTI and further anchors our belief in the enormous potential of the technology market in East Asia.”
Blockchain industry stands to see tremendous benefit from this partnership, as both parties seek to further the expansion and growth of blockchain throughout the traditional business enterprise.
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