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Rodney Sampson teaches us about the types of cryptocurrency and how small business owners can use it to grow their business. Watch more Small Business News & Trends videos: https://bit.ly/biznewsandtrends
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0:00 Who is Rodney Sampson?
0:36 Types of cryptocurrency
0:48 What is Bitcoin?
1:16 What is blockchain?
2:13 How the pandemic impacted crypto
2:35 Should you use crypto in business?
Founder of Opportunity Hub (OHUB), Rodney Sampson, says small business owners must take the opportunity now to learn about cryptocurrencies. For those willing to take off the blinders, entrepreneurs can do more than just try to stay afloat by getting in on this new, cutting edge field of technology. Fundamentally, with blockchain and Bitcoin being forms of crypto, both rely on a decentralized system. With only 22 million Bitcoins, it's a game of supply and demand — the more coins that are purchased, the more valuable those coins become. Blockchain is a simple system in which a record of transactions made in a cryptocurrency are maintained across several computers that are linked in a peer-to-peer network, bringing transparency and accuracy to the table. As small business owners think about blockchain in the realm of their ledgers and business statements, having an authentic, verifiable record of a transaction for everything that your respective business does can be a game changer. Especially during the pandemic and lack of in-person commerce, those who were first to market (in every industry) were able to grow and scale the fastest. Rodney says even though crypto is an early adopter territory, it’s also a territory you can’t afford to not to be educated about or participating in some meaningful way. Just as you took the risk to start a business, that same strength is what can prepare you to take a little bit more risk in terms of accepting this newer form of payment to grow your business.
References:
27 million Americans own cryptocurrency, 44.5% of which own bitcoin. https://www.nasdaq.com/articles/crypto-mass-adoption%3A-a-matter-of-when-not-if
The global blockchain market will go up to $23.3 billion by 2023. https://techjury.net/blog/cryptocurrency-statistics/#gref
Learn more about Rodney Sampson:
https://www.linkedin.com/in/rodneysampson
https://www.brookings.edu/experts/rodney-sampson
https://www.opportunityhub.co
https://www.blackangels.co
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https://www.twitter.com/godaddy
The information contained in this video is provided for informational purposes only and should not be construed as an endorsement or advice from GoDaddy on any subject matter.
#Crypto #Cryptocurrency #GoDaddy #RodneySampson #CryptoMarket #Blockchain #Bitcoin
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