The Influence of Cryptocurrencies on the Business World

Towards the end of 2017, Bitcoin, the capo di tutti capi of the crypto world, has soared to its historically highest heights, having since dropped from the bonkers price of nearly $20,000 to the rather modest $6,500 ballpark. When this spike started, however, the price of BTC was “mere” $2,000, so in retrospect, it’s still established a more-than-bifold growth since May 2017. What does this mean for the crypto world? No one can tell. Bitcoin might crash miserably or it may well start growing towards the $100,000 mark. What is certain is that the crypto world has made and is still making an impact on the business world.


One word that has wrapped its arms around others such as “crypto”, “Bitcoin”, “Ethereum”, etc. is “blockchain”. You’ve probably heard of it and you know that it’s the technology that makes digital currencies possible. What a lot of people do not know is the fact that the blockchain technology is actually much, much, much greater, more important, and, after all, much bigger than the cryptocurrency world. Without getting into the technical details which every Google-savvy person can get their hands on, I want to explain what blockchain really is in layman’s terms. According to Wikipedia, blockchain is a continuously growing list of records, called blocks that are linked together and secured using cryptography. In my words, blockchain is simply based on torrents, where no one is really the owner of these records, but shares them with other blockchain users. This is what makes this technology secure and this is what gives it not only the means to make the cryptocurrencies possible, but a potential for a widespread use in many (if not all) branches of the human society. Therefore, blockchain is pretty much the biggest disruptor tech in the crypto world, especially when it comes to business.

Streamlined transactions

As you may or may not know, digital currencies completely eliminate processing fees. This is actually one of the biggest widely known benefits of the crypto world, seeing as how typical credit card transactions tend to take two or three percent of the transaction cost. The processing fees can actually make or break a business, especially during the early stages, in addition to being a highly limiting factor for startups in niche markets.
Well, digital currencies relieve a ton of headache here, mainly because they don’t involve literally anyone – no one needs to step in and facilitate each transaction. This means not only a cheaper, but a quicker and safer transaction process. A particularly famous digital currency actually uses a feedback system to keep everyone as safe as possible and in order to allow the traders to make more educated decisions. For instance, you should make sure that you leave feedback when you buy Dash and trade it, so that everyone can benefit from your knowledge.


One of the biggest challenges of getting the business gears rolling is establishing proper financing. Currently, the most popular way of getting financed is taking out a loan. Well, the world of cryptocurrency investment is a bit different and a tad, shall I say, bananas! Trust me, it’s different out there for a non-crypto trader, and you can consult the major crypto groups on Facebook if you want to see it for yourself. But what this 4chan- and crypto-fueled society has brought to the table is the crazy opportunity to get financed by literally the community, if you do your ICO (Initial Coin Offering) right. Imagine that, a world of people who are willing to invest into your ICO based on nothing but a rock-solid white paper and website!

These three points represent the most vital ways the digital currency world will affect the world of business. It all starts with blockchain and its variety of uses, but it’s the cryptos in particular that allow streamlined transactions and make for a great way to get invested in.

About the author

Diana Smith is a full time mom of two beautiful girls and a business coach. She is interested in topics related to marketing and advertising.


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