PricewaterhouseCoopers’s (PwC) has released a comprehensive report documenting their thoughts with regard to Bitcoin, particularly as they apply to the entertainment and media industries. This 19 page paper, part of their long-established Consumer Intelligence Series, places Bitcoin under their microscope and examines its history and propagation through the end of 2013. There is also substantial research to Bitcoin’s rise in social media circles as an indication of expansion, something not often seen in such reports. Also of certain interest to fans of the crypto currency are five pages of results from PwC’s robust surveys that speak to Bitcoin awareness and perception in today’s marketplace.
Here is an excerpt from the report, featuring their four key points on Bitcoin:
- Bitcoin can be part of an innovation strategy for products, services and payment systems. Some entertainment companies are experimenting using Bitcoin for new music downloads.
- Early adopters enjoy a public relations and marketing advantage. Being noted as a Bitcoin innovator can potentially generate favorable press and social media mentions. In 2014, social gaming company Zynga added Bitcoin to its most popular games and garnered thousands of media mentions.
- The value of Bitcoin is frequently fluid and roller coaster-like. Dynamic pricing of products is needed with daily cash-outs and a trusted payment partner. In the tourism sector, CheapAir.com has partnered with Bitcoin merchants to leverage those features.
- Like other consumer-facing technologies, companies experimenting with Bitcoin should monitor the evolving regulatory landscape and execute due diligence to mitigate potential exposure to illicit activities.
Certainly there is much more to offer, especially in terms of data, making this a very worthwhile report to review for anyone interested in a serious look at the future of Bitcoin. To get this free report click here.