Ripple has announced that a new XRP cryptocurrency program Xspring (pronounced 'Spring') will be released soon for small businesses and entrepreneurs. XRP is the third leading cryptocurrency behind Bitcoin, and the new program Xspring may give the company the boost they're looking for. The Xspring project will be a combination of investments, grants, and incubation to entise business owners to expand the use of XRP.
Should your small business use or accept cryptocurrencies?
To start, the concept of cryptocurrency lies in the peer-to-peer technology. No central bank or government regulates or backs it, so buyers transfer money directly to sellers without a middleman. As we hear more about data breaches and hackers stealing information from banks and banking companies, some find cryptocurrency programs more appealing when it comes to financial transactions. As cryptocurrency programs grow, there are some small businesses that may accept it for that reason as well as being at the forefront of the technology age, but is it right for you and your business?
There are lower transaction fees, financial protections because of the lack of a middleman, and increased sales to those who pay with cryptocurrency.
Technical barriers could surface for small business owners who may not be unfamiliar with the technology, the true value of the digital currency can be unpredictable and can be difficult to translate to your regular currency, the threat of cyberattacks to users' information does exist, and lawmakers are still forming regulations in an effort to regulate the currency.
Read more here
Write something about yourself. No need to be fancy, just an overview.