The U.S. retail giant, Walmart, have initiated a unique concept of advertising and raising public awareness for bitcoins, a type of cryptocurrencies. The milk and chocolaty bitcoins are manufactured by Philadelphia-based candy manufacturer company, Frankford Candy & Chocolate Company. These chocolate coins are supplied in Walmart Stores all over the U.S., with a motive of advertising the bitcoin and cryptocurrency concepts at the non-professional level (children and family). The cost of single chocolate bitcoin is $1 and is available in a mesh bag as a packet of six weighing 1.48 Ounces. Initially, Walmart promoted cryptocurrency only through the online store, in which it sold literature about the cryptocurrency.
In layman language, cryptocurrency is a digital currency, which can be used in future as legitimate currency.
Currently, a company named Tron is going to release an app based on “Decentralized Internet” using blockchain technology. This will protect all the personal information and data from the third parties, including Google or Facebook, which can access the personal data from the device.
Blockchain technology is also going to revolutionize the banking system. Using decentralized Internet, large amount of money can be transferred internationally with an ease and in seconds. The chances of transaction failure are negligible as the network never gets shut down. Ripple, a money transferring system, is using this technology for money transfer and now more than 100 banks are testing the technology for quick money transfer, including Bank of America.
Cryptocurrency is used as an intermediate when the money is to be transferred from one currency type to another.
Crypto market is currently at a developing stage with a very fast pace. And yet, many developments and cryptocurrencies are still to emerge. This will become a great market platform for the investors to invest.