It is quite difficult for most people to imagine their lives without banking system. We are used to make payments on-line, whether paying for a service, for a product or to our employees. For an online company like us, it is impossible to imagine how to work without the usage of a merchants allowing customer payments with Credit Cards.
Now let´s be creative for just a moment, what if, we needed no more of the banking system. Let´s say bye, bye to fees everywhere, fees from banks to customers when using credit cards, fees from merchants to companies when receiving payments, and to any other trusted third party in order to complete a commercial transaction.
What if I told you this is possible? If you don’t know about blockchain technology and you have a company, then, I´ll suggest you to keep reading, because the world is changing, and you have to be prepared, there is a possibility you might lose clients and opportunities in a short-term period.
Why is the world changing?
Because in some countries, people are replacing the way to do savings, companies are changing the way they do business and countries are changing the way to activate the economy. All these changes have just one thing in common, this is the Blockchain technology.
If you understand that the world is changing and you want to be part of it, then we are going to give you a piece of advice about how to improve your business.
Join The Technological Wave
Blockchain is a method of storing data – a digital ledger of transactions, agreements, contracts – anything that needs to be independently recorded and verified as it is happening.
The big difference is that this ledger isn’t stored in one place, it’s distributed across several thousands of computers around the world.
And everyone in the network can have access to an up-to-date version of the ledger, so it’s very transparent.
What make this special is the usage of virtual currencies instead of fiat currencies. Right now, there´s almost one thousand virtual currencies working out, and the most popular ones are being adopted worldwide in almost every sort of transactions. You might hear about them, currencies as Bitcoin, Ethereum, Ripple and Litecoin.
These virtual currencies (rather Cryptocurrencies) are not issued by any central banks, rather are “created” by the same users as new Blocks are created in the Blockchains. The good thing about this is that it is uncorrupted, which means, no one can create them independently in an arbitrary way (as happens with fiat currency), no one can use this in an unregulated way, and no one can do anything to promote inflation. In fact, the word “inflation” don´t exist in the Cryptocurrency argot, this might be interesting even for you.
As everybody can be part of the issuing system for new Cryptocurrencies, banks will no longer be needed, instead we use Exchanges, at any peer between Cryptocurrencies or between these and Fiat Currencies.
From Banking to Exchanges
While the usage of Cryptocurrencies Exchanges increases, the use of banks decreases due to the new way of doing business.
Over the last 5 years only 3 new banks opened in United States. Before the financial crisis, over 100 banks set up shops each year on average -. On the other hand, nowadays is it very common to see new Cryptocurrencies Exchanges, these are promising new companies such as mercury.cash and ethereumwallet.com
What to do next?
You might want to start by creating your own accounts for Cryptocurrencies Wallets and Exchanges. You may choose to handle one Cryptocurrency or many, this is up to you. Download or follow trusty apps or websites to keep an eye on the news and stay updated, such as https://coinmarketcap.com/ and http://www.coindesk.com/.
The following step, might be the acceptance of your business for Cryptocurrencies as a form of payment, adding into your websites and linked social networks references about your wallets.