Millennials Doing Business Not As Usual – The Cryptocurrency Revolution

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Cryptocurrency has brought in a revolutionary breakthrough in terms of peer-to-peer transactions. Its basic decentralized nature has helped small business owners transact without any merchant involvement or any mandatory regulatory policies that govern traditional businesses. This opens up new windows of opportunity for budding entrepreneurs to explore new offerings and also be profitable. 

Traditional Business Scenario 

Businesses have always been seen as a high capital investment, labor-intensive, monetary return on investments. Penetration in market segments was difficult with large corporates investing heavily in promotions, causing small mom-n-pop stores to slowly shut shop. New business entrants had to have huge capital investments or take loans from banks in order to start a business. 

Banking systems too profited at a tremendous rate, as it gave loans to business houses at huge interest rates and guarantees of house and other properties. This led to undue domination of banks over businesses and further dissatisfaction for new start-ups who were bootstrapped in their initial stages towards success

How Cryptocurrency Changed It? 

Start-ups now have the advantage of peer-to-peer decentralized currency exchange, which not only ensures a direct channel partnership among buyers and sellers but also helps keep a common ground in terms of conditions applied. With no involvement of banks whatsoever, the entrepreneur can plan mining bitcoins with required computing power and analytical calculations. One can today use the cloud to commission additional computing power, for their cryptocurrency mining, on a pay-per-use basis. This gives new start-ups the flexibility to plan their resources and focus on their niche offerings to their Millennial customers. 

Cryptocurrency trading gives budding entrepreneurs a chance to trade in a non-traditional manner, where one can directly transact online on the volatile market rates of a recently concluded bitcoin exchange. Automated trading software further helps new traders to make quick money, as it performs all the required calculations and predicts the upcoming trends for the traders through algorithms and artificial intelligence. 

Start-ups now can raise capital by Bitcoin trading, which opens up a huge window of opportunities for budding entrepreneurs with brilliant ideas but are helpless due to lack of funds. Cryptocurrency being decentralized removes the need of a third-party banking authority that takes the decision whether a loan can be approved or not or even mortgages in the name of bank guarantee. 

New Start-Ups With Minimal Investments

Cryptocurrency has paved the way for start-ups who wish to penetrate into newer markets but are bootstrapped in the initial funding. A peer-to-peer network ensures the reliability of transactions and no delays whatsoever with respect to payments of services and goods offered. The only challenge is the low acceptance of Bitcoin as a cryptocurrency norm in certain countries, which has limited the access of the people who wish to transact in the distributed ledger system. 

Crypto Conclusions

It is instigated by banks which fears a revolutionary change in how people shall manage their investments themselves, without the need of a bank to manage the portfolio of investments. The banks have realized this and are working on their own version of cryptocurrency using blockchain, which in theory completely negates the “decentralized” nature of cryptocurrency transactions.

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