The phenomenon of cryptocurrency has gained significant popularity worldwide, but there is still a lot of information to acquire about this innovative creation. Despite the recent 30% free-fall of the Bitcoin value due to the Chinese Banking Association and its warning against digital currencies, Jason Hope believes it will have unprecedented effects on businesses. Hope also believes that blockchain technology, on which cryptocurrencies rely, is constantly changing and that such oscillation is normal. He feels that cryptocurrency will revolutionize the e-commerce sector’s actions.
This financial efficiency is a boon for online businesses, as the transactions are done with little or no cost. Activist investor and truehearted philanthropist Jason Hope also explains the security benefits that are associated with the use of these digital currencies. Blockchain technology can solve certain problems in e-commerce, such as fraudulent returns and chargebacks, as businesses look for more secure payment systems to protect their customers’ data. This increased security can help establish customer trust when using cryptocurrency for purchases.
Also, according to Hope, cryptocurrency creates new investment opportunities for business people. We are witnessing a relative decline in traditional forms of fundraising, while high-potential investments open the door to digital currencies. Such a shift can be a huge boon to start-ups because of early investors such as Erik Finnman, who has become a Bitcoin billionaire, Jason Hope comments. Hope also talks about how digital currencies make capital through initial coin offerings and how it is much easier for start-ups to access global investors and liquidity.
This method is an improved form of fundraising that is more efficient than the traditional approaches, Jason Hope instills. Besides, he points out that cryptocurrency enables direct buyer/seller settlements without involving any middlemen, which makes payments fast and lucrative. Many businesses, including Overstock.com, have also enjoyed using Bitcoin since it has proven to improve financial performance and quicker clearing of transactions.
Lastly, activist investor and philanthropist Hope highlights the fast transactions with cryptocurrencies where one can get confirmations in a shorter time than through banking channels. This efficiency is particularly beneficial, especially for large financial transactions, since confirmations are essential. Therefore, according to Jason Hope, cryptocurrency will be important in businesses’ future as it will increase efficiency, security and investment opportunities. He believes that blockchain technology will disrupt the current business landscape despite the fluctuations witnessed in the market.