Author: BWild

Tencent is finding success in offering inexpensive content

Tencent is one of China’s largest Internet and commerce businesses, but it does have strong competition from others that have established a foothold in both of these sectors. In order for Tencent to beat out the competition, the company is beginning to focus on providing consumers with inexpensive entertainment, ranging from mobile games to free video streaming services. Tencent expects to see significant growth in the coming year, despite the slowing economy in China.

Mobile games and free HBO streaming are likely to generate strong interest among consumers

Tencent is responsible for the massively popular WeChat and QQ messaging applications. Both of these apps will soon support new mobile games that are coming to the country. They will also offer free streaming of HBO’s successful “Game of Thrones” series. Mobile games, in particular, are likely to drive significant growth, as many consumers in China prefer to play these types of games because they represent a very convenient form of entertainment.

China’s economy is growing slowly

By coupling mobile games with free video streaming through WeChat and QQ, Tencent expects that it will see a 28% surge in sales. This is four times faster than the rate of domestic economic growth in China. The country’s economy is currently growing at the slowest rate it has seen in 25 years. Several companies have managed to find success despite the slowing economy through a focus on the mobile sector. These companies are supporting mobile commerce, as well as various forms of mobile media.

Mobile games continue to find success in China

Mobile games are likely to become a primary focus for Tencent, but not the company’s sole focus, of course. Tencent has a long history of supporting mobile gaming and by expanding the capabilities of its WeChat and QQ apps, it will likely connect better with gamers in China. Many new games are coming to China, with developers seeing significant promise in the country. This has made China one of the fastest growing markets for mobile games in the world.

Bitcoin may become the sixth largest reserve currency in the world by 2030

Digital currency is becoming a more powerful force in the global economy, especially as mobile commerce continues to grow in popularity. A new study from Magister Advisors and International Business Times predicts that Bitcoin, a famous, but relatively controversial digital currency, will become the sixth largest global reserve currency by 2030. Though Bitcoin is quite volatile in value, more consumers and businesses are showing favor for this currency as they become more committed to the digital world.

Digital currency is gaining support in Europe

Bitcoin is currently experiencing a very large increase in value, which is being fueled by a recent decision from the European Union, which has declared that Bitcoin is an actual currency and that it is exempt from value added taxes associated with exchange transactions. The study suggests that banks throughout the world will invest approximately $1 billion into Bitcoin and Bitcoin exchanges over the next two years. Banks are expected to make use of new processes for clearance and settlement in order to make Bitcoin more convenient for consumers to use in the future.

Bitcoin remains somewhat infamous due to its volatility

Digital currencies have become somewhat infamous, largely due to their volatile nature. In the case of Bitcoin, the currency has been unregulated for the majority of its existence. This has lead to major fluctuations in the currency’s value, with crashes in value leading to financial ruin for some individuals and organizations that have heavily invested in the currency. While 90% of Bitcoin’s value is held in speculation, the vast majority of transactions made with the currency are commercial transactions that are occurring in developing economies throughout the world.

Consumers show interest in Bitcoin as mobile commerce grows

Growing in popularity, Bitcoin for beginners AKA: newbies, has been catching on especially for mobile users. This is mainly due to the rising popularity of  people taking care of their investment profiles via their phone. More consumers are relying on their mobile devices to do their shopping, both online and in physical stores, and Bitcoin represents a relatively easy way to make large purchases. As this trend continues to gain momentum, more retailers and banks are expected to show their support for this digital currency.