Cryptocurrency and retail - how should we think about this?
How should retailers think about cryptocurrency from an opportunity perspective? How can they manage risk in value fluctuations (hedging)? Should we be thinking about transactions in a physical space, or only online?
An interesting article about this was released at https://www.forbes.com/sites/nikkibaird/2017/08/09/blockchain-and-retail-four-opportunities/#3e42795672bf just few months ago
I think retailers should take Bitcoin/Ethereum if customers want to pay with them. With the growth of BTC and ETH, they would actually increase their value, and if nothing else they can change to Fiat currency immediately
Physical should be part of this - the image below is a market stall in london, UK, where you can pay with BTC and ETH
Remember that Japan takes BTC and ETH in over 100,000 physical stores
Daniel Andrew I do think that they will all start to accept it soon, but as primary will take a longer term change - something that will happen when governments start to use Crypto. Taking crypto now makes sense as it is giving the customers what they want and trying out a form of payment which is signficantly quicker and cheaper than the current £/$ etc
The recent fluctuations are similar to the % fluctuations for forex (the press report the $ amount not the %) as you do with Forex, you hedge and you can hedge crypto.
Or they can HODL and make lots more money :-)