Vodafone Endorses Bitcoin As The Future Of Payments

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • Vodafone Germany has unveiled a new advertisement on its Facebook page stating the widespread adoption of Bitcoin in the future.
  • The caption on the post reads “Will there be Bitcoins instead of pocket money soon?”, with a hashtag for FutureFriday.
  • Vodafone posting on Facebook about Bitcoin is also an irony since the company was one of the partners from Facebook’s Libra Association who called it quits and exited the association.

Vodafone Germany has unveiled a new advertisement on their Facebook page stating the widespread adoption of Bitcoin in the future, and it will even replace pocket money.

Future Friday | Bitcoin

Gibt's bald Bitcoins statt Taschengeld? #FutureFriday

Posted by Vodafone Deutschland on Wednesday, February 12, 2020

The advertisement asks viewers what grandmothers will gift their grandchildren if everyone begins paying using their smartphones in the future. The caption on the post reads “Will there be Bitcoins instead of pocket money soon?”, with a hashtag for FutureFriday, where the company is trying to project what the future looks like on social media.

Vodafone Supporting Bitcoin?

Vodafone posting on Facebook about Bitcoin is also an irony since the company was one of the partners from Facebook’s Libra Association who called it quits and exited the association. Libra was Facebook’s take at a stablecoin that was backed by the individual fiat assets from every country all put together in a basket of digital assets. A large number of Libra’s initial partners have back-out of the association due to concerns and significant pushback from lawmakers and regulators.

The question that Vodafone Germany poses is the exact goal that Bitcoin started with. To replace traditional forms of currency and become the trustless, electronic, peer-to-peer payments system with global adoption. This would mean many things for the cryptocurrency world since traditional fiat currencies and mineral assets have all been manipulatable by a governing authority.

Fiat Currency Vs Digital Currency

Fiat currencies are centralized under the central banks of their respective circulating country. The complete control over the legitimacy of a transaction is trusted into the hands of these banks. More often than not, they have misused the trust that the general public has instilled in them. Cryptocurrencies like Bitcoin hope to circumvent the trust issue and creates a trustless, decentralized, distributed ledger on a blockchain that records every transaction, whose copy is kept by every Bitcoin node all around the world ensuring decentralization.

What’s Vodafone’s plan for Bitcoin?

Bitcoin has come a long way since its inception over a decade back, and it has reached from a few cypherpunks to over 23.1 million holders of the world’s most popular cryptocurrency. The growth of Bitcoin has also paved the way for a number of other currencies like Ethereum, Ripple, etc. that all provide the same transactional utility as Bitcoin at the basic level but add more functionality on top of it.

Vodafone’s endorsement of a future where Bitcoin is the payments standard is very hopeful since having a large telecommunications giant like Vodafone back the cryptocurrency will surely bring a strong boost to people’s belief in the potential of Bitcoin.

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