Crypto education is key to adoption by businesses
Once businesses understand what crypto is about, we will see a big influx in global adoption, according to Jess Houlgrave, the head of crypto strategy at payments company Checkout.com
There’s still uncertainty and misgivings about cryptocurrency, particularly around regulation. Once this is cleared up, says Houlgrave, it will clear the way for business adoption
In future, companies that use cryptocurrency in their payments could see an increase in security, speed and efficiency, says Houlgrave
Crypto-based payments could help alleviate issues with fees, payment delays and fraud in future, Houlgrave said, but this can only happen with a big push in educating companies about the various use cases of crypto.
There has already been an increase in businesses using crypto via a payment provider. The payment provider converts crypto to traditional currency in the background, which protects the business, a shop owner, for example, from price volatility, but more needs to be done in terms of clarifying issues of regulation and crypto settlements.
Businesses are struggling to understand how to integrate crypto payments into their current operations, and where they keep the funds safe once transactions are completed, she said. “By educating these larger players about the advantages and use cases of crypto we can shift the needle, especially for those who can incorporate crypto into their businesses in a meaningful way,” Houlgrave explained to Cointelegraph.
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