Take opportunities while they’re fresh. Crypto is fresh. – Koen Vanpraet
Crypto and blockchain technology are two of the most talked-about innovations in recent years. Investors, collectors, and tech-junkies alike have all flocked to the technology in order to see what it is capable of.
However, the advantages of Crypto may still be a bit of a mystery for many businesses. It’s not intuitive or obvious how Crypto may help a business succeed.
It’s not even very obvious why business leaders should know about Crypto in general. That’s why we sat down and talked to Koen Vanpraet, a business leader and professional management consultant.
We asked Koen Vanpraet exactly why business leaders should understand Crypto and the advantages of the technology.
Koen, So we’ve seen companies like Tesla investing in Crypto. Do you think that’s smart? Is the investment worth it for other businesses?
Yeah, absolutely. That’s one of the primary reasons that businesses buy Crypto.
I think most businesses should look into investing, in general. But Crypto is such a young, volatile market that so much money can be made with little research and due diligence.
I follow a lot of Crypto and NFT influencers and doing so helped me realize to take opportunities while they’re fresh. Crypto is fresh. Worst scenario, you lose some money after a well-researched purchase.
In the best scenario, you increase your investment by hundreds of percentages. I don’t think Cryptocurrency is going anywhere; it’s the future of currency, so now is the time to invest.
Inflation has been kicking up lately. Do you think this should weigh in on a company’s Crypto decisions?
Yes, that’s another huge advantage of Crypto. Crypto doesn’t inflate as the dollar does. Everyone should have some kind of inflation defense. Otherwise, they will lose money.
That’s not speculation; that’s just a fact. Crypto is one of my favorite forms of inflation hedging because it is completely independent of the dollar and what is happening in the traditional investment world.
So, does Koen Vanpraet think that companies should not only invest in Crypto but should also accept it as currency?
If they don’t accept it now, they will have to in the future, that’s all I’m saying. The sooner a business starts accepting Crypto, the better because it won’t be long before all of its competitors accept it.
I always tell my clients that it’s better to be the first than the last. A huge chunk of the population prefers purchasing products with Cryptocurrency, and they will go out of their way to do so. They are not targeted nearly as much as they should be.
Koen, do a lot of customers use Crypto? If a business allows Crypto transactions, do you think it will immediately increase sales?
I’ve seen it with my own eyes, so yes. So many people prefer Cryptocurrency over any others. They trust the security and the privacy of the transactions.
However, not many businesses are accepting Crypto. Doing so immediately opens a business up to a large customer base.
Koen, you mentioned security. How much more secure is Crypto?
Blockchain is probably the most secure technology on the market. It doesn’t get more secure than Cryptocurrency. It benefits customers, but also businesses.
There’s no way for bad actors to chargeback Crypto, and fraud is impossible. Once a transaction happens in Crypto, it’s done. Crypto wallets are also virtually unhackable and will be for the foreseeable future.