Those who want to understand exactly how bitcoin is being adopted in the U.S. would do well to take a look at the tech startup Snapcard.
The company has existed less than three years, but it’s already reinvented itself twice, changing its business model to adjust to bitcoin’s evolution. A look at what the company has attempted and the market forces it’s faced provides insight into digital currencies’ acceptance in the U.S., the technology’s disruption of traditional banking, and what the future might hold for bitcoin-based commerce.
The upshot: Providing bitcoin wallets — which let people buy things with an app using bitcoin — is a tough road for multiple reasons. But the use of bitcoin for international payments holds promise and is already helping startups edge out traditional banks.
Snapcard’s founders have been