Intelligent CIO Europe Issue 02 | Page 103

/////////////////////////////////////////////////////////////////////////////////////////// FINAL WORD Dramatic surge in cryptocurrencies predicted for 2018 As the retail industry discovers new ways to innovate, consumers must keep up with the ever-changing methods of purchase. Scott Lester, CEO at Flixmedia, gives us his predictions for 2018 as Bitcoin slowly becomes more prevalent in retail technology. 1. Cryptocurrency will emerge as a method of purchase The value of Bitcoin – perhaps the most well-known and widely used of cryptocurrencies – experienced a dramatic surge last year, with its value climbing from less than US$1,000 to over US$6,000. This will likely increase even more over the course of 2018, meaning retailers who previously dismissed cryptocurrency as a fad must now look into how best to integrate the payment method into their business. Japan has already taken a leading role in this regard, with the country’s government granting cryptocurrencies’ legal status as a means of payment in April last year. Hundreds of thousands of retailers in Japan now accept payment in Bitcoin. This trend will see www.intelligentcio.com INTELLIGENTCIO 103