My recent posts have been reflecting on why cryptocurrencies would have helped me in my previous life as a business owner. My first video centred on Litecoin which would have been useful for:
- Low transaction fees
- Quick transaction speeds
- Negating the use of 'Middle men' banks and credit card companies
- Dealing in a lower value coin making it easy for the general to calculate costs
- The potential for Atomic Swaps with Bitcoin and Monero
Monero brings something else to the table. Something so important I find it difficult to actually hold a value to it, because it is in fact priceless... Privacy.
I could spend all day writing the reasons why privacy is important to the individual but I do not think this is necessary. You know why privacy is important to you, be that for political or personal reasons. However, in this blogg I am explaining why Monero would have been useful to me in my previous role as a company owner.
Blockchain is a revolution and something that I feel will eventually change the world for the better. Decentralised transactions could help build a better fairer economy. However, open ledgers are something that could obviously cause concern for business owners. At the moment you would need a level of education to be able to make sense of these ledgers, but in the future when crptos are commonplace, I am sure people will sell this service to rival companies.
I would not want my rivals to be able to find the transactions I have completed with my suppliers and my larger customers.
As a business owner I must always show confidence and professionalism to my clientele. Even the idea of a struggling business and cause potential customers to stay clear of you, even if this description is not accurate.
Bitcoin taking part of the Gold and/or savings industries and Litecoin capturing even a small section of debit card transaction fees could mean huge returns on both coins. Monero however offers privacy, which cannot have a value placed upon it. I think these three coins will become more interchangeable as this space develops and Monero could eclipse them all.