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Cryptocurrencies

Half of US SMBs not prepared for Bitcoin yet – report

Thursday 30 October 2014 | 12:14 PM CET

Recent research into SMBs’ levels of readiness in the US indicates that 50% of such companies are not equipped to handle digital currency usage, while 18% are only minimally prepared.

According to software research firm Software Advice, which interviewed 400 small business owners and customers regarding their willingness to use digital currencies should they become more widely adopted, a combined 32 percent of SMB respondents claim their company is prepared to accept and make payments with digital currency. Of these, 13 percent mentioned that their business is “somewhat prepared,” while 10 percent claimed it was “very prepared” and 9 percent stated it was “ahead of the curve” in terms of preparedness for using digital currency.

Companies may be more likely to feel the need to prepare their business if they are exposed to the demand for digital payments and currency on a regular basis, according to Steven Lord, editor-in-chief of Modern Money Letter, who researches Bitcoin and who was interviewed by Software Advice.

Global Bitcoin inconsistent regulation actually does more harm than good to the digital currency industry, according to recent findings published by Mercator Advisory Group. Moreover, the supposed regulation does not grasp the benefits inherent in the digital currencies` technology, opportunities and disadvantages, the same source indicates.
 

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