3 Reasons Jason Hope Says Future is Crypto
Crypto’s day in the sun is over. The cryptocurrency market is too volatile. The Chinese government has banned these risky financial instruments. Millennials are foolishly borrowing good money to invest in it. Like it or not, Cryptocurrency is disrupting the old model of traditional banking. According to futurologist Jason Hope, the need for it is here to stay. Here are his top three reasons why.
Less transactional friction
Businesses of yesteryear had to rely on high-fee banking relationships to start their enterprises, to fund operations, etc. Currently, today’s entrepreneurs now can successfully fund their startups with the propre online campaigns and even go public with ICOs. As Jason Hope explains, when transacting with cryptocurrency in the ecommerce space, both merchants and clients spend just 1% or lower in terms of cost. How is that for greasing the wheels of business?
Fewer peeping eyes
Blockchain technology offers customers security as well as lower costs online. When using their favorite digital currency instead of credit cards, their data is virtually hidden by prying eyes. Also, business owners are protected from chargebacks and other cases of fraud from cyberthieves (LinkedIn).
Shorter waiting period
Besides costing more, the old guard’s transactions took much longer to go through. Back in the day, businesses had no option but to wait several hours, if not days, for their big deals to clear. As Jason Hope points out, how confirmations can settle in mere seconds.
With the old boy’s network of banking upended by technology, aspiring businesspeople can blaze new paths to success. The stories like Erik Finnman becoming a Bitcoin billionaire at 18 or Overstock.com’s raising of $126,000 in Bitcoin value in 22 hours will in time become more commonplace. In the end, it’s hard to argue with innovation even if it’s a little disruptive and controversial.