Cryptocurrencies ushered in a new paradigm in the movement of money around the world.
Billions of dollars worth of digital assets now change hands every day in a decentralized and lightly-regulated environment. Those flows have taken on a negative complexion in popular discussion, thanks to the drug smuggling, terror financing and money laundering stories that seem to dominate the news headlines and chat rooms.
The thought therefore of using cryptocurrency to do business or generating fees from handling these flows is an unnerving prospect for most businesses. With owner identities obscured by seemingly impenetrable blockchains, the challenge for these companies is trust.
“Should I accept these coins as payment? Should my client accept them? Can I trade them? Who owns them?
Where do they come from?”
These are all valid questions that prevent businesses from engaging with cryptocurrencies in a meaningful way. The good news is that the biggest, commonly used blockchains aren’t as impenetrable as commonly portrayed.
This is where we can help.