What are Crowd Currencies?
Internet Technology has enabled everyone to access every kind of information with just one click. Earlier it was not an easy job to do monetary transactions from one back to another or from one part of the world to another. However, using Software technologies and Internet Technology, with the help one single click, money can be transferred and collected within a minute. One such currency is Crowdshare offered to the crowd in exchange for their ideas and feedback.
Nowadays people have started businesses using internet technology. The e-commerce industry is progressing at a rapid pace. Ebay, Amazon.com and likewise are the biggest example of this kind of business. So a business can’t be done without monetary transactions and if someone is doing e-commerce-based business then how will he do monetary transactions? One method is to use an intermediate financial institute like any Bank. Another method which is very common nowadays is using bitcoins. Bitcoins are also known as Internet money or digital money. Crowdshare has its conversion rate. Once the crowd share is entered, it will convert to its exchange rate with a dollar and then from a dollar to the currency of the individual receiving that money. So digital experts have devised a term for crowd share and such kind of things, known as Crowd Currencies.
Sharing economy is a term which is used to describe a situation where one can access and use the shared human resources without conducting monetary transactions. Still sharing economy model don’t bound the monetary transactions. Keeping this in view, the concept of crowd currencies has been evolved. Crowd currencies are also one of the applications of this concept of sharing economy. The reason is that bitcoin technology can be accessed by anybody working on any online platform. Banks and other financial institutes also facilitate the transaction of bitcoins. The process is very simple, the person who want to deal in bitcoins on any e-commerce platform. He just needs to purchase bitcoins at an exchange rate of dollars using his bank account. After that those bitcoins can be used to do shopping on the internet. Such kind of facilities has been termed as Initial Coin Offering (ICO) by internet economy experts.
Let’s have a look at some of the advantages which ICO, bitcoin and crowdshare system provides. The 1st and foremost benefit which it provides is that it allows you to generate the required finance for any new project. It is easy to transact the money from the stakeholders working in a different locality, by using Bitcoin. Next, this is very helpful for those businesses which are small or starting their ventures. Crowdshare system in Crowdholding allows them to reach their target customers directly. These startups can promote their online businesses and ultimately it will help to reach the customers and customers might use it to buy the products.
One disadvantage which has been faced by ICO is that lack of trust. Generally, the e-commerce businesses have been facing the problem of trust. Customers want to spend a big amount of money on a product which they can feel and see in front of his eyes. So the customer may get reluctant to purchase and use ICO, bitcoin or crowdshares.
ICO, bitcoins, and crowdshares are modernized form of currencies. They have been used all over the world, particularly on online forums. Still, it needs some time to capture the entire market because a customer is the ultimate reality of any business. The trends may get change at any moment, so this industry must be ready to face any kind of change in trends, mind, and hearts of customers.
We are interested in your opinion and feedback regarding the crowdholding concept. Get in touch through our website or email us at hello@crowdholding.com Learn more about Crowdholding in 1 minute by watching our Youtube video.
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