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When they first came into existence, a lot of the major analysts paid little to no attention to the notion of digital currencies. Still, not only did they persist year after year, but their influence grew so much that they are currently dangerously close to becoming a mainstream method of payment.

In fact, Japan already regulated Bitcoin and it is estimated that Australia is about to follow suit. Not only is this formal recognition by two economic superpowers, but it is also a clear indicator of the way in which digital currencies are reshaping our world. With this in mind, here are five major ways in which the future of business may be affected by the ever-growing popularity of digital currencies.

Lower Transaction Fees

Even though credit and debit cards are still more popular than digital currencies, every payment made through them comes with a small transaction fee. Now, when you try to multiply the average fee with the number of people using this method of payment, you get to see the full extent of the inefficiency of this system. On the other hand, digital currencies are not only capable of further lowering the fee, but perhaps of eliminating it entirely.

More Eco-Friendly

Another major benefit of digital currencies may not affect the business world as much as it does our planet as a whole. You see, even though only 3 percent of all money exists in physical form, the massive number of bills printed makes the issue of deforestation even worse. On top of this, smartphone applications could soon make the concept of change completely obsolete and, with it, the need for coin smelting (which is, yet again, resource intensive).

Deflationary Currencies

Due to the fact that most digital currencies have a cap, they are deflationary. When you take a look at the traditional currencies, you will realize just how rapidly inflation makes the value of money drop. For instance, $10 two decades ago is worth the same as $15.22 today. In other words, we are seeing more than a 50 percent drop in as little as 20 years. With their brand of deflationary properties, digital currencies might just be able to avoid the same fate.

More Anonymity

One of the greatest advantages of trading in digital currencies is that it allows an unprecedented level of anonymity, as far as digital transactions are allowed. Seeing as how they are nearly impossible to trace, a lot of people are comparing digital currencies, and especially cryptocurrencies, to cash. Whether or not they will substitute cash in the following decades or not, remains to be seen.

More Diversity

Finally, when speaking about digital currencies it is important to mention just how different they are from each other. For instance, the difference between the dollar and the euro is mostly in value while Bitcoin, Zcash, Ripple and Dash differ in other properties as well. As a result, this means that those who decide to sell digital currency in order to make a fortune first must do extensive research on the topic. The knowledge gained from trading in one digital currency helps, but not to the extent you would expect it to.

In the brief time they have been around, digital currencies have made some incredible changes to the business world and every serious analysis of the topic predicts that they will keep doing so in the future. Apart from changing the way in which the world of business functions, they might also alter the way in which business is perceived by corporations and consumers alike. Nonetheless, we will have to wait and see the full extent of this influence.

   

We’ve all heard so much about people who have decided to ditch their 9-to-5 jobs and give entrepreneurship a go. If you decide to do the same, you’ll have to make sure you have absolutely everything your startup needs to succeed. While knowing your way around the books and assembling a good team is important, there are plenty of other things you’ll need in order to keep your startup afloat. We’ve singled out 5 of them you should think about investing in right now.
Website
Take a look at every successful business out there and you’ll see that each of them […] Continue Reading…

   

While environmental regulations are vital to our planet’s survival, sometimes it isn’t that simple to keep up with all the rules. This is why a small business might find itself in need of contacting an environmental consultant. But what exactly does an environmental consultant do, how does one become an environmental consultant and, most importantly, how important is environmental consulting in 2017? Let’s find out!
A Scientific Discipline
Unlike accounting, environmental consulting is not something you can learn through practice or through an online course. An environmental consultant needs a strong background in science, environmental economics, engineering, and, above all, math. […] Continue Reading…

   

Faced with irrefutable evidence of global warming and detrimental influence of human civilization on the global environment, we have to turn to the ecological frame of thinking. This is not merely a trend, it’s a necessity, and out of this necessity emerged a buzz term known as “going green.” In broad terms, it means retooling and modifying various aspects of life to fit into a more ecologically conscious way of living that has a positive influence on the environment. Many households have turned to this sort of thinking and there are a lot of companies that either follow suit […] Continue Reading…

   

Having to choose a location for your business can catch you by surprise. Many entrepreneurs are so caught up in creating business itself, defining mission, passions and goals. Choosing a home for their company is the last thing on their mind in the beginning stages. However, much sooner than later, choosing the perfect location for your business becomes a top priority to consider.
Having a Clear Picture
First and foremost, a space for your company has to be functional. Second of all, it has to, at least to an extent, communicate what sort of business you are trying to develop. The […] Continue Reading…

   

Starting a new business is easy and it doesn’t require a lot of money, and that’s why everyone can do it. Making a startup profitable is entirely different. It requires hard work, patience, and careful money management.

To put it simply – Business profits will occur only when the income is greater than all business expenses combined.

Let’s take a look at some important things you should consider before starting your own business.
Make a Great Product
The most important thing about any great product is to have a clearly defined sense of purpose. It should also deliver value in a focused way […] Continue Reading…

   

Expanding from a physical location to an online presence has never been easier. It is truly a globalized era. Those looking to start a business from scratch, depending on the model, will most likely consider operating fully on the internet. The cost difference between a brick and mortar store and a website really makes the decision rather simple. Web hosting and domains have advanced a lot over the years with costs being very reasonable. With jobs and the economy up in the air, starting your own online business can be a feasible means of making ends meet.

Let’s take a […] Continue Reading…

   

Devising a marketing strategy is probably the most important part of a business plan, for all industries and the businesses of all sizes. Small and entrepreneurs that are still relatively unknown should take marketing particularly seriously because reputation is hard to establish and invaluable if done right. Before creating a marketing strategy, businesses should honestly evaluate their strengths and weaknesses and most importantly understand the audience they are trying to reach.

Technology plays a huge role in this process and it will continue to do so in the future, but the essence of every campaign should be something timeless and […] Continue Reading…

   

Transportation is the key part of distributing goods to your clients, but knowing how to choose your perfect mode of transport will help you make sure that your products arrive on time and at the right cost. There are three possible choices: shipping by land, sea, or air, and your decision will depend on a thorough evaluation of business needs, as well as comparing the benefits of each shipping method.
Shipping by Air
When it comes to time efficiency, nothing beats shipping by air, but this isn’t the only benefit here. Lower insurance, inexpensive warehousing and tight inventory control are the […] Continue Reading…

   

Business presentations are a very important and frequent part of doing business. A lot of the times, sales depend on a successful presentation. However, more often than not, they are maligned as boring. But that doesn’t have to be true: you can make your presentation informative and interesting for your audience. It’s not simple – people are easily distracted, but it’s possible not to bore your listeners to death.

Here are a few rules to follow for a good presentation.
Keep it Concise
There’s nothing worse than a long ramble with a lot of extraneous information. Stick to your key points, […] Continue Reading…