Dara Khosrowshahi, the CEO of popular ride-hailing company Uber, has recently announced that the company will accept cryptocurrencies like Bitcoin (BTC) as a form of payment for its services in the future. This news signals that BTC acceptance and adoption is going mainstream, and could trigger more businesses to join the industry.
However, Khosrowshahi pointed out that the “bartering operations” behind cryptocurrencies such as Bitcoin mining require a lot of energy, and thus are expensive and not suitable for the environment. This is similar to Tesla’s decision to discontinue Bitcoin payment, with Elon Musk citing environmental concerns.
Despite these drawbacks, Khosrowshahi clarified that when the mechanism becomes cleaner, less expensive, and more environmentally friendly, Uber will jump on its adoption. Additionally, the US Senate has introduced an initiative to require vending machines and food vendors on Capitol Hill to accept Bitcoin as a medium of payment.
Gambling sites are also actively implementing Bitcoin payments in their systems due to its decentralized nature, anonymity, and privacy.
Overall, Bitcoin payment is gaining traction across many sectors, and its adoption is spreading rapidly. Crypto enthusiasts are positive that Uber’s decision to embrace the technology will attract more businesses to the industry.