Shares of Kronos Advanced Technologies Inc. (OTC: KNOS) were trading slightly higher this week after the Company announced that it had exchanged its entire holdings in First Bitcoin (CRYPTO: BIT) for Dogecoin Cash (CRYPTO: DOG). It’s important to note that First Bitcoin is unrelated to Bitcoin (CRYPTO: BTC). The Company, which specializes in the manufacture of air purification technology, has an estimated 600 Million Dogecoin Cash and intends to begin accepting it as payment. “With the growing excitement around Dogecoin Cash, Kronos aggressively accepting Dogecoin as payment, and our popular limited edition air purifier rebranded as AirDOGE, we felt that swapping into Dogecoin Cash was a natural fit,” said Kronos President Michael Rubinov. The concept of Dogecoin first began as a lighthearted internet meme in 2013, and Kronos is now the first publicly traded company to accept Dogecoin Cash as payment.
Kronos has now joined an already growing movement of companies beginning to accept cryptocurrency as payment. Most famously, last February Elon Musk announced that Tesla had purchased USD 1.5 Billion in Bitcoin and would begin accepting it as payment. Amid growing economic uncertainty and fears of political destabilization, people across the world are beginning to move towards a decentralized financial system using cryptocurrency. One of the main concerns about a centralized financial system is that if an economy such as the U.S. collapses, its currency such as the USD can lose its value due to factors like inflation. Certain cryptocurrencies such as Bitcoin and Dogecoin Cash cannot be inflated because there is a finite supply of them. In other words while the U.S. Government can print dollars endlessly, only 21 million Bitcoins can ever be created. Cryptocurrency both as an investment and a currency could very well become the banking system of the future, if you’d like to learn more visit this link.