Can your business take advantage of Bitcoin?

8 Ways Your Business Can Benefit From Cryptocurrencies

Bitcoin and the underlying blockchain technology has been invented almost a decade ago. It solved many long-standing problems all at once:

• Allowed the transfer of value over the internet without the need to rely on a third party, like a bank or payment processor
• Created a safe method of payment that can be used over the internet without risks even if the payment address is compromised
• Allowed the storage of value in digital form on the owner’s device as opposed to relying on a third party like a bank
• Implemented monetary policies such as issuance of new money and inflation without a central authority
• Incentivized many independent agents (miners) to secure the network
• Removed single point of failure risks by decentralizing the network
• Created a global currency that works seamlessly across borders
• Implemented pseudonymous payments

Since then, the development of Bitcoin and other cryptocurrencies that build on top of the original Bitcoin idea have come a long way. Cryptocurrencies do more than just transfer value, even though it remains the core…