Despite gaining ground in recent years, cryptocurrency is something that many still have a lot to learn about. Bitcoin recently saw a 30% drop in value, making crypto a hot topic. As Jason Hope recalls, the Chinese Banking Association recently posted a statement requesting that financial institutions refrain from using digital currencies because of their volatility.
This statement caused the value of almost all cryptocurrencies to drop, raising concerns about the end of the crypto market. Jason Hope, a top futurist thinker, sees this trend as part of the evolution of blockchain technology. As part of this perspective, Jason sees hope for crypto’s future involvement in business.
What Crypto Means for E-commerce
Digital currency is at a peak, with many opting to pay using crypto instead of credit cards. Jason’s extensive research found that some pay fees as low as 1% when paying with cryptocurrencies or might not pay any fees. Some top credit card-based payment processors charge as much as 3-5% per transaction (LinkedIn).
These rates make the low-fee or fee-free model that crypto makes possible more attractive.
Increased Security?
Jason Hope believes that companies will likely want secure online transaction systems for customer trust. Fraud reduction will become more accessible than ever with increased digital currency usage.
Chargebacks and fraudulent returns have some of the most significant negative impacts on businesses. Using a cryptocurrency wallet is an excellent way to prevent personal information from falling into the wrong hands.
Jason focuses on the role cryptocurrency will play for future investors. Digital currency investments can provide more for companies in early growth stages.