Tesla is NOT alone in adopting DogeCoin...

qsyal (62)in Project HOPE • 3 years ago

A few days ago (May 11), our friend Elon Musk polled on Twitter about whether Tesla should accept Dogecoin as a new method of payment. The result was no surprise to me as more than 78% said YES to Dogecoin.
On May 13, he tweeted that work is underway with Doge devs "to improve system transaction efficiency". It clearly looks like it will be just a matter of time before people buy their Tesla cars with Dogecoin...
Despite all this crazy excitement, some financial experts are insisting to warn from this meme coin as just "a bubble" that can burst at any moment. For them, Doge is a joke and should always be as so.
This begs a fundamental question. One that has been badgering me for months.

Is Dogecoin really able to be the uniform currency of the world?

Well, as far as I know, there is only one real use case for Doge and that would be as a medium of exchange. Indeed, while dogecoin was launched as a joke, I think the underlying incentive was to create a less threatening version of Bitcoin that people could easily send to friends and family without having to worry about all the seriousness of Bitcoin.
And let's be fair, Dogecoin has been quite effective to that end. Not only friends and family, but even high-profile companies and prominent merchants are now considering Dogecoin as a legitimate method of payment.

In this short publication, I'll be showing you that if Tesla really adopts Dogecoin, it will not be an exception or an anomaly. Indeed, there are other big names that already started to accept Dogecoin as a method of payment for their services...

Computer products, laptop, LED LCD TVs,Cameras, and other electronic equipment:

On April 19, Newegg (One of the largest e-retailers in the world) announced that they would integrate Dogecoin with their payment system so that customers could use this cryptocurrency to buy electronic equipment.
Andrew Choi, Sr. Brand Manager of Newegg was so clear with his approach...

“The excitement and momentum around cryptocurrency are undeniable, and the recent surge in Dogecoin value underscores the need to make it easier for customers to make purchases with this popular cryptocurrency,” said Mr. Andrew Choi.

^Source

A super car:

On April 18, Post Oak Motor Cars announced that they would be accepting Dogecoin as a new method of payment. It's worth mentioning that it was the second type of cryptocurrency that has been accepted after Bitcoin.

Luxury Hotel Bookings:

On March 11, Kessler Collection announced that they would be adopting Dogecoin along with other cryptocurrencies (BTC, BCH, and Ether) as new ways to pay for clients and guests . Accorcing to Kessler CFO Fravy Collazo:

"This move will make it easier for guests traveling globally, both in time saved from going to a local currency exchange and in money saved with a lower exchange rate,"

^Source

Dallas Mavericks Basketball Tickets:

On March 4, Dallas Mavericks (a basketball club from Texas, USA) announced that they had adopted Dogecoin as a legitimate way of payment to enable fans to buy their tickets without having to touch the fiat currencies. With the help of BitPay (A global provider of Bitcoin&cryptocurrency services), they were the first to integrate Dogecoin with their payment system.
According to Stephen Pair, CEO of BitPay:

The Dallas Mavericks are a long-time enthusiast of cryptocurrency, opening up new opportunities for the team to sell tickets and merchandise to its global MFFL fan base”