MARKET RESEARCH
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@RoatanOnline - CRYPTO IS COMING - No doubt about it. Below are a few reasons why I chose the “Crypto will benefit Roatan” option above:
ONE: An excess of 80% of all islanders now have web-enabled phones. That means they can purchase, transact, send, and receive payments on their phones now. They are now BANKABLE without the need of having a vehicle to get to the bank or the proper paperwork to be approved for a bank account.
TWO: Local banks and governments will no longer have governance ability over revenue. This alone will force governments to become “service based” and not “tax based” in order to get funding from their citizens.
THREE: Millennials prefer cryptocurrencies and they are just now entering their “working age”…the next decade will go along with the money this generation chooses to use and that is very likely to be Crypto.
Great points Thinker. And with many businesses accepting it globally. It is where a comoany called Chargex was in the early 70’s. One of the first Credit cards offered to people. Today we know that company as VISA.
Crypto Currencies are changing the way the world thinks about money.
So true. We are in the early days. That said, I suspect the rate of adoption will be faster than the internet rollout as all the infrastructure is already in place.
@StoneAge - You can say that again, and Canada is a leader in this space in terms of government “acceptance” and crypto friendly regulations.
Roatan can become a leader in adoption. Crypto.com is soon to release their “merchant” features which will make it very user friendly for Roatanians to adopt.
@RoatanOnline What can you tell us about:
Yes, in particular the Real Estate industry on the island. Property ownership will become stronger once there is an online record of ownership on the blockchain.
The concern I would have relates to adoption…will the ole farts that retire to Roatan be open to learning a new technology?
Cryptocurrencies cut out third party intermediaries by their very nature, so peer to peer transactions make YOU the bank…with that comes financial freedom and responsibility. Online scammers and crooks currently use the US Dollar to commit the majority of all crimes…I am sure some will use Crypto. But the benefits will outweigh the negatives.
You can transact with smart contracts which could afford you a micro escrow for refunds if the other party doesn’t follow through with their end of the deal. But for the most part, all crypto transactions are final.
Most digital wallets allow for conversion to USD and allow for ACH payments into a bank account. There is also the option to link a debit card to digital wallets for both spending and ATM withdrawals.
Also being Canadian, I know about the leadership role Canada is taking part in. And Roatan is in such a great position to follow in similar footsteps.
Easy there @BitcoinBeachRoatan, I am among those “old farts” you speak of and I already own three Bitcoin!
