Why aren't businesses onboard crypto?

Why aren't businesses onboard crypto?

By Sugarfix | Some Crypto Things | 10 Aug 2020


You would think that international businesses or companies that trade overseas would be jumping headfirst into crypto like flies onto shhhh .....ugar. Businesses pay a fortune in banking fees, transmission charges and letters of credit so what is the problem here? In the past you could argue that the volatility of cryptos made it impossible to forecast costs/expenses and made hedging difficult but with the advent of stablecoins those issues should have evaporated. So what is going on?

It became blindingly obvious when I was reading this post by @D3F1 on DeFi mobile wallets (you can thank me for the plug later ;) ). There are a lot of mobile wallets but hardly any desktop ones. No financial or IT department with more than 2 brain cells to rub together is going to allow a phone to be used to control their finances.  It is far too much of a security risk. Can you imagine the headline "General Electric went bankrupt today when some as*$^&**le stole the company mobile phone"? They need a desktop based system that can be integrated into their ERP or accounting software - both a hot-wallet plugin and a cold-wallet gateway/bridge.

To date there seems to be zero developers addressing this. The first one that does will corner the market and bring crypto into the mainstream.

Golden Russet of NY

A Golden Russet of NY - Pic: Gb-Online


Sugarfix
Sugarfix

Jack of all trades master of nine. Lived in many countries. European.

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