Why Must Businesses Choose To Accept Digital Currencies Now Rather Than Wait For Mass Customer Adoption Of Digital Currencies?
21st-century businesses have adopted digital business models which are interactive and intuitive. This is based on the fundamental basis of society being more digital capable and acceptable towards digital technology with widespread adoption across the globe. The effects of digitization are visible from farmers embracing digital technology to yield benefits to the latest mass adoption by society of shared economy.
Digital technologies underpinning shared economy (eg Uber) and virtual reality (eg Pokemon) are on the rise while society has embraced change much more rapidly than any time before in history. Same is the case with digital assets or currencies such as Bitcoin and Ethereum which have gained traction over the past few years.
Major investments have been evidenced in digital assets resulting in the market cap of Bitcoin over $11 Billion at the time of writing. These digital assets not only provide alternative ways of doing business underpinned by blockchain technology but also act as a bridge between the traditional means of payment and the future of digital asset payment.
To that effect digital and non-digital businesses in order to maintain relevance and stay ahead of the ever-changing digital world must be open to accepting digital assets in near real-time to boost sales, save money, avoid fraud and award customer loyalty.
Who goes first: Merchants or customers?
It is a complex question whether businesses should embrace digital payment solutions first or wait for mass customer adoption of digital assets and currencies. Historically, credit card evolution was attributable to merchant acceptance rather than mass customer adoption first. With the changing digital landscape, every year and adoption rate of technology at all-time high, businesses and merchants should be open to adopting digital asset payment solutions to tap into a new customer base and enhance existing customer base as well.
Customers, on the other hand, demand ease of access and convenience of payments. With support from digital currency communities and merchants accepting digital currencies, the adoption can continue to grow rapidly by customers.
There is a wide range of digital asset wallets available on iOS, Android, and web. The next organic step is for business or merchant to have a POS which accepts a range of digital assets.
BlockPay is one such free platform which facilitates businesses and merchants to accept digital assets in a better, faster and cheaper way. Merchants and businesses also have access to integrated automated bookkeeping, loyal and rewards programs, customer analytics, and eRecipts. BlockPay mPOS is free for businesses and merchants which is an attractive incentive.
The future of money lies in digital assets and payment solutions and BlockPay is leading the way.
More info about the market opportunity for mobile payment systems (mPOS) like BlockPay
Market Report from BlockPay Ambassador: Adnan - Australia
Picture sources: 1,2,3, Adnan on a FinTech Conference in CapeTown
Note from Christoph
We thank Adnan for his report and will publish more of his work soon.
More local news report from the BlockPay Ambassador Network coming soon.
upvote and 
I agree, businesses should lead the adoption of cryptocurrency payments. The cost for trying out an app like @BlockPay is virtually zero minus some setup learning curve; and fees don't start coming in (lower than traditional payment solutions anyway) until customers use it. It seems like a no-brainer to at least try out.
This post has been ranked within the top 80 most undervalued posts in the second half of Nov 19. We estimate that this post is undervalued by $4.70 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Nov 19 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.