// TECH TRENDS // specific advantage . For smaller business owners , cash flow is a constant concern , and one of the biggest vulnerabilities is chargebacks . That risk simply doesn ’ t exist with crypto . Transactions are immutable ; once a payment has been made , it can ’ t be reversed . That means SMEs – especially digital businesses , where the customer and the payment card aren ’ t present – can accept much larger payments and can ship the goods as soon as the payment comes through the door . The equivalent chargeback protection for card processing can be more than 5 % for some businesses .

Crypto makes business faster , cheaper , safer and most importantly of all , more certain . In that regard , you don ’ t need to hold Bitcoin as ‘ digital gold ’ like multinationals do ; for SMEs , they represent something useful beyond price .

What ’ s stopping you ?

Though the market is maturing fast ( just look at the recent spate of regulatory frameworks for digital assets ), it can still be difficult for newcomers to know which companies they can trust . Probably the best heuristic here is tenure : is your potential crypto partner a veteran of the space or a newlyformed upstart that promises the world ?

Certainly , crypto isn ’ t something you can incorporate overnight . There are up-front costs and overheads : for physical merchants , this includes new point-of-sale terminals ( although the solution could be as simple as an Android device ). There are back office considerations , too , such as ensuring crypto payments and wallets are fully integrated with your existing accounting

systems . And to be completely honest , accepting crypto does put a target on your back . Many high street banks can be reluctant to do business with what they deem ‘ crypto companies ’, while regulators may expect you to comply with strict anti-money laundering ( AML ) and knowyour-customer ( KYC ) regulations .

Another consideration is custody : whom do you trust to safeguard your coins ? Is it better to self-custody or rely on a third-party ? And if it ’ s the latter , how can you be sure that they not only deploy the strongest possible security , but that they ’ re not at risk of insolvency ?

Crypto ’ s demands deep research into the practicalities of adoption and integration and careful discrimination to find a trusted partner to help you overcome these obstacles . More than anything , though , it requires ambition and bravery ; to use crypto as a launchpad to open new markets , deliver new services and above all to be differentiated – both from your closest competitors and from the very richest companies in the world .

While the obstacles to adoption are a challenge for any business , the first firms that overcome the learning curve and integrate this technology into their business will be the first ones to reap the rewards . �

IT ’ S NOT DIFFICULT TO SEE HOW CRYPTO COMPLETELY CHANGES THE VERY NATURE OF BUSINESS .

Intelligent SME . tech

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