// TECH TRENDS // cryptocurrencies quickly realise they ’ re onto something immediately useful , as they begin harnessing crypto to remove cost and friction from international payments , open up new markets ( including overseas ) and signal their sophistication to customers .

For smaller firms , crypto ’ s most meaningful benefit is in the realm of transactions and operations , not investment . That ’ s why the most common form of crypto employed by small businesses is not volatile Bitcoin , but stablecoins . These are the perfect entry point to the world of crypto , because they feel familiar to ‘ traditional ’ money but operate far more efficiently .

Because stablecoins exist on a single ledger , banks or middlemen don ’ t take a cut . While there are usually some network fees to transact , the cost is typically trivial , and it ’ s the same whether your customer is in your store or on the other side of the world . Meanwhile , there are no complex processes or long waits for SWIFT , domestic bank transfers or credit card payments to clear ; transaction times are measured not in days , but in seconds .

Once you step through the door marked ‘ crypto ’, the world of traditional financial services you left behind – of punishingly-high fees , unfair exchange rates , significant frictions and slow transaction times – seems positively mediaeval .

It ’ s not difficult to see how crypto completely changes the very nature of business . Faster , cheaper transactions are the foundations on which companies can build entirely new business models , accepting payments from anywhere in the world and achieving the kind of global reach it takes multinationals years to build .

We don ’ t have space to list all the benefits and use cases of cryptocurrencies , but I ’ ll highlight one

FOR SMALLER FIRMS , CRYPTO ’ S MOST MEANINGFUL BENEFIT IS IN THE REALM OF TRANSACTIONS AND OPERATIONS , NOT INVESTMENT .

Intelligent SME . tech

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