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  • Cryptocurrency payment?

    Cryptocurrency is a growing trend in the world today as it's used in so many different ways, for payments of good and services, as an investment and so on. Some companies have already accepted the use of cryptocurrency as a valid means of payment while others don't for the same why cryptocurrency are volatile in nature.

    Do you think that it's a bad call or a good one for businesses to accept the use of cryptocurrency as a means of payments for their products?

  • #2
    We have to admit that crypto currency is getting popular but I donít think it is high time to be used in the supply chain industry particularly with big purchases costing thousands of dollars. To be frank, I am not trusting crypto currency simply for its origin and control (aside from the law of supply and demand). What if the value of crypto currency abruptly goes down and you have placed a big order? That would entail a loss on your side.

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    • #3
      Exactly, the volatile nature of all cryptocurrency is what rules then out being used in the supply chain industry because any commodity that its worth or value can't be relied on to be stable over a long period of time, surly makes it impossible to initiate any transaction because the risks are most likely to be higher than the gains and looking at how fragile Bitcoin has been since this year, gives a clue as to the challenges facing its use in supply chain industry.

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      • #4
        I guess cryptocurrency is getting to the surface because there are purchases that accept cryptocurrency payments. One country (that is currently slipping on my mind) is making cryptocurrency a legal tender for special purchases. However, I donít think that big companies are agreeable to the cryptocurrency for now. Maybe in the near future when the government would give its approval then the crypto can be fully accepted as a pseudo currency.

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        • #5
          Originally posted by Alexandoy View Post
          I guess cryptocurrency is getting to the surface because there are purchases that accept cryptocurrency payments. One country (that is currently slipping on my mind) is making cryptocurrency a legal tender for special purchases. However, I donít think that big companies are agreeable to the cryptocurrency for now. Maybe in the near future when the government would give its approval then the crypto can be fully accepted as a pseudo currency.
          Definitely, it's all but a matter of time till all cryptocurrencies can be used for all sorts of transactions purposes which what is part of why it's not is failure of some country's government to accept and approve the use of cryptocurrency as a legal tender or financial commodity. It's all part of the effect these cryptocurrencies would have on their different fiat currencies that still deter their acceptance and approval.

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