Telecom giant, AT&T revealed that it has recently collaborated with BitPay- a crypto payment processor to enable its customers to employ crypto I order to make their payments.
This a vital step towards bitcoin adoption as it the first incident when a major American company has tied up with BitPay.
The association between AT&T and BitPay marks a mammoth achievement for crypto mainstreaming. Major ventures adoption of crypto signals at their faith in the legality of crypto payment procedures.
Besides belief, the real achievement is the aptness of customers to make their payments with cryptocurrency. The most significant symbol of crypto adoption is the capability of using crypto to pay for goods and services in daily life.
With the introduction of apps like Flexa app and acceptance of bitcoins by firms like AT&T by BitPay, the dream of crypto mainstreaming is drawing near.
Upon logging on to their myAT&T app, the consumers will be allowed to choose BitPay as a options of making payment. BitPay accepts Bitcoin and almost instantly converts it to a fiat.
This if not ideal is a major breakthrough. In addition, firms cannot be expected to hold a hyper-volatile resource that has the power to put a major drag on their earnings.
The real hurdling out of this entire episode is whether or not consumers will choose using Bitcoin to make their telecom payments. Others like Litecoin and Bitcoin Cash believe that their networks should be preferred for micro-payments as micro-payments on Bitcoin gets very expensive and clogs the network, hence, Lightning Network was offered to efficiently transact minor amounts in short time.
Maybe, this could work out for Bitcoin if BitPay and other processors start accepting payments at the Lightning Network. Till then, it is impossible to caste impact on AT&T or Bitcoin use, however, other altcoins if recognized by BitPay may greatly benefit from this development.