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Blockchain technology can help companies cope with the global economic downturn. While the cryptocurrency market was nascent a few years ago, today digital assets have become a symbol of security for saving money.
At the same time, companies that have started to integrate cryptocurrency and blockchain technology into their operations are already reaping significant benefits in the market. Volodymyr Nosov, CEO of cryptocurrency exchange WhiteBIT said this in an interview with IBTimes.
The degree of disruption to the usual global economic order is increasing: Russia launched a war in Ukraine at a time when the global economy was still vulnerable due to the effects of the COVID-19 pandemic. Supply chains that were disrupted during the pandemic have not been re-established. Moreover, inflation continues to gain momentum, reaching multi-year highs in some countries.
“Digital assets create a window of opportunity for those no longer willing to pay for the mistakes of fiduciary regulators and Wall Street. Cryptocurrencies are fully decentralised: they can be transferred instantly and anonymously, without the need for a bank to intervene, without fees or borders. Cryptocurrencies are often referred to as digital gold because this asset can be stored for a long time. Cryptocurrencies can also be seen as a hedge against inflation. Their supply is limited, unlike fiduciary currencies, the mass of which can be increased indefinitely by central banks,” – says Volodymyr Nosov.
According to the expert, cryptocurrency can be used not only to form an investment portfolio, but also for everyday purchases. It is a question of creating new income opportunities and attracting loyal customers to this payment method.
Entering the world of cryptocurrencies before other players in the market is one of the biggest competitive advantages a company can gain today. Your customers can come from anywhere in the world: there are no trade restrictions and you only need a smartphone to make a payment. We can also mention the reduction of transaction costs and instant payments.
It is worth noting that now the WhiteBIT cryptocurrency exchange, together with Mastercard, is creating a new global system of digital payments. The cryptocurrency exchange has also integrated with the Weld cryptocard and launched its own WBT token. All these steps are designed to ensure that WhiteBIT users’ digital assets can be used in their daily lives.
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