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Author Topic: What type of businesses could currently benefit from bitcoin  (Read 300 times)
jakebrooker2
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October 30, 2013, 03:13:07 PM
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Hi,

I have chosen to write my dissertation on bitcoin as the technology fascinates me.

What types of businesses could currently benefit from introducing bitcoin as a payment scheme?

Thanks
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October 30, 2013, 03:35:41 PM
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Short answer: any business could benefit from using bitcoin, maybe except for banking business Smiley

Long answer: first of all it's being adopted by online businesses such as web design, web programming, hosting, server administration, domain registration, etc. since bitcoin is a 'virtual space' currency. But if these tech-savvy business owners also introduce enough non tech savvy people to bitcoin, brick and mortar businesses can also endorse it. Especially this can be beneficial for them in times of hyperinflation, they can lock in their supply prices and maintain a more stable price structure for their customers than if they used a depreciating currency. Another benefit is, your account can't be frozen at someone's whim resulting in your business being unable to operate, like it recently happened in Cyprus.
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