The bitcoin cash ecosystem has seen massive growth and is still seeing massive growth in recent times as more and more people and companies alike are becoming aware of its many juicy features. The features we as a community are quite familiar with includes; fast, easy, low transaction fees, better and has SLP tokens. All these features give bitcoin cash its uniqueness in the cryptocurrency industry.
All the above aforementioned features position bitcoin cash as the crypto of first choice to several business merchants across the globe. Businesses around the world continues to adopt bitcoin cash and this year the acceptance of bitcoin cash by merchants continues to grow rapidly. The 4300+ bitcoin cash accepting business isn’t just a make-up figure, rather it is gathered from sites like: map.bitcoin.com, green pages, anypay and acceptbitcoin.cash.
Despite this adoption by merchants coupled with the highly publicized evangelism by the bitcoin cash community, some people and companies alike in developing parts of the world are yet to grab not just the opportunity bitcoin cash presents but also cryptocurrency opportunity in general. Some businesses in some part of Africa, Asia, Latin America, and Oceania for instance are yet to tap into this.
This is owing to the fact that some of these people are yet to get the drift of the blockchain technology and lack the patience and courage to learn it and excel in it, some have not even heard about it at all and you begin to wonder why. Perhaps the thought that such people are still living under the rock in this 21st century. on some other grounds, it is due to some country’s governmental policies on digital currencies.
Though some are already accepting bitcoin payments, but we all know how transactions on bitcoin can be. It wastes time and the transaction fees are on the high side to say the least.
A typical example was when I was still accepting bitcoin for my online eBook sales. It nearly tarnished my reputation online, because I needed to confirm the transaction first before sending the material to the buyers. When they see that I am yet to send the eBook even after they have paid, they waste no time in threatening to label me a scammer.
However, I always deliver to them regardless of whether the bitcoin payment is confirmed or not to my detriment. You know what they say: “A good name is better than silver or gold”. Since I switched to bitcoin cash, I have never looked back. Payment has been swift and efficient. My next goal now is to automate the bitcoin cash payment feature into my website.
On a close search, some countries in the developing nations are already accepting bitcoin payments only and it’s a laugh because most believe that altcoins are full of trash and that only bitcoin is the true cryptocurrency. Majority of these businesses shut their eyes to bitcoin cash thinking that it is some fake version of bitcoin cash. I realized a real life scenario during a blockchain event I attended in Nigeria.
Someone has said assuredly that he finds it hard to invest or use other Cryptocurrencies because their (altcoins) future is quite uncertain after the onecoin saga. The problem however is that people never read and I mean so many people don’t request or endeavor to read the whitepaper of a new cryptocurrency project first before giving their sane judgements on whether to invest or not.
The possibility of creating an SLP (simple ledger protocol) token is an added advantage because you can organize a giveaway opportunity to your customers using SLP token as a way of thanking them for their patronage.
This of course will foster a smooth seller-buyer relationship.
As bitcoin cash supporters, we owe it to the ecosystem to keep promoting bitcoin cash to far and near so that people can accept it wholeheartedly and adopt it for their various business both online and offline businesses. Bitcoin cash adoption will indeed be a great move for the developing countries in terms of finance.
This is the digital age for crying out loud. As a matter of fact, I am planning to start a mini education series both online and offline about the opportunities that bch presents to majorly businesses in rural areas in Nigeria for a start, and then we can go to other locations thereafter. Optimistically, by the end of 2020 I wish to see more and more merchants from the developing countries adopt bitcoin cash.
Thanks for reading!