The transformation of Bitcoin enterprises - the focus shifts to blockchain technology

As the cryptocurrency industry becomes less popular, many companies are beginning to shift their development focus.

We’ve all had this experience: We start a business and run it successfully, only to find years later that our skills are lacking and we’re at a loss.

As a result, many businesses chose to flee the Bitcoin industry as soon as possible before it began to decline. For months, the value of the currency has remained generally stagnant (except for a brief plunge in early November). Perhaps the longer this slump lasts, the more serious the consequences will be.

Many companies that previously worked with bitcoin, like Circle and BitPay, have quietly adapted and moved to blockchain technology in general.

However, there are other companies that are less worried. Bitreserve, a former bitcoin exchange that now goes by the new name Uphold, is firmly clinging to its position in the industry.

According to Business Insider, the company's CEO Anthony Watson offered a curious explanation for its previous name: "When we say bit, we don't mean Bitcoin. Bit, byte and reserve all have that meaning. But people are often confused and tend to think we are a Bitcoin company, which is why we started in the Bitcoin business in the first place ."

This shift is undoubtedly groundbreaking. It reminds us of Microsoft's previous bold move to add podcasting capabilities to the iPod system. In response, the company explained: "The word podcast originally refers to portable radio."

From: Jinping Media