By AsianMarketCap Official on The Capital
Cryptocurrencies and blockchain technology have gradually transformed the way people and companies exchange money, raise capital, and invest in projects, especially for startups. Indeed, these emerging technologies have brought light to the common masses and have given an equal chance to aspiring entrepreneurs in the playing field.
Since most founders today have put their eyes to any emerging trends and innovation, many entrepreneurs positioned themselves to utilizing blockchain technology and cryptocurrency assets before the rest of the world will. Even if you’re new to the game, there is nothing to worry about as this new medium of value exchange is still considered to be a nascent market. As young as it is, more and more opportunities have been carried out to the world every single day.
Blockchain technology has its ability to cross borders and bring people together in a way that has thought to be impossible. From creating digital economies for tumultuous war-torn countries to encouraging innovation on a global scale, here are three trends every entrepreneur should be leveraging to bring positive impact to the world.
1. Cryptocurrencies allow value to be exchanged without the need for a bank.
One of the most incredible and exciting aspects of cryptocurrencies is the way they provide opportunities for people to receive or send money without needing a bank to facilitate the transactions. As a company or corporate entity, this would mean being able to do business with hard-to-reach countries or regions. This creates opportunities for entrepreneurs to connect with a variety of clients they couldn’t reach before.
In order for these kinds of societal shifts to happen, cryptocurrency platforms are becoming more and more aware of how to play within today’s financial ecosystems. This is opening a whole other door of opportunity for entrepreneurs, and why blockchain companies are working hard to break through and service everyday consumers, bringing cryptocurrencies to mass markets by building more universal device-based wallets.
2. Cryptocurrencies improve transactional agreements among parties.
One of the biggest reasons why cryptocurrencies have attracted so much attention and clamor is because of the way the technology has influenced transactional agreements between parties.
Since cryptocurrencies live on decentralized networks, this allows users to conduct financial transactions from person to person without having to go through a centralized authority.
3. Cryptocurrencies can be a means to raise capital for startups.
One major cryptocurrency trend that entrepreneurs are beginning to leverage is its opportunity to help your company raise capital.
This technology has completely revolutionized the way early-stage startups can raise the funds they need. For example, fundraising through Initial Coin Offerings (ICOs) can assist startups to raise funds in an efficient and inexpensive manner, by connecting them to a wide range of investors from around the world.
The amount of money raised in 2018 through ICOs has already surpassed 2017’s jaw-dropping $5.5 billion. Regardless of the fact that there are less ICOs being held in 2018, the amount of money being brought into the space seems to be not slowing down any time soon.
Conclusion
With all of these things in mind, it would be a great loss for entrepreneurs not to pay attention to what is quickly becoming one of the largest and most influential technology spaces in the world. As it continues to grow in number, the available opportunities for innovation will continue to unfold right beside it.
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Cryptocurrency Trends for Entrepreneurs was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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