Although cryptocurrencies have gained widespread popularity over the past couple of years, there is still a lot to be learned about this new technology. Due to the recent decline in Bitcoin’s value, cryptocurrency has become an increasingly popular topic. Business expert Jason Hope explains that several cryptocurrencies, including Bitcoin, experienced a drop in value after the Chinese Banking Association released a statement on its website, which stated that financial institutions should not use digital currencies due to volatility.
Although some believe that this is the end of the market for cryptocurrencies, Jason Hope, a leading futurist, sees a different outlook. Due to the increasing popularity of e-commerce sites, the need for digital currencies has become more prevalent. According to Jason, the lower transaction fees that cryptocurrencies offer are making them more popular than credit cards.
Transacting Value
According to Jason, businesses will eventually require a more secure online transaction system to gain the trust of their consumers. Although the need for this technology is already there, people are still not able to identify a solution. With the use of digital currencies, fraud on e-commerce will be significantly reduced. With that in mind, Jason Hope believes that cryptocurrencies are a great way for entrepreneurs to expand their reach and raise more capital. He believes that traditional fundraising methods are no longer an ideal option for start-ups as they can now benefit from the multiple advantages of investing in digital currencies.
Secure Online Transactions
Due to the increasing number of startups, traditional fundraising methods have become more difficult to manage. With the emergence of cryptocurrencies, Jason Hope states, start-ups can now easily raise funds through initial coin offerings (ICOs).
This type of fundraising allows them to get in touch with a wider pool of investors and quickly raise capital. Research conducted by the activist investor revealed that peer-to-peer transactions will become easier with the use of cryptocurrencies since they do not have a central authority. Due to the lower transaction fees, Jason Hope finally adds, companies have started accepting payments using cryptocurrencies.
