Commentary
Following the CompleXCountries call ‘Accepting Bitcoin in Corporate Treasury – Lessons from El Salvador’, (Report Here), the CXC community clearly did not see this as a one off. The necessity to accept Bitcoin & Crypto may become a reality for more Treasurers, but the path is far from being very clear. The purpose of this call was to share experiences and challenges, and learn from the various solutions Treasurers are putting in place if they have to accept crypto currency to support their businesses.
The session was extremely insightful and even if a Corporate is not accepting Crypto now, this report required reading for the Treasury community. It is a challenge that will increasingly become more common as corporations drive more digital sales channels. The regulated Crypto exchanges have seen significant growth over the last few years and the ability to exchange fiat for crypto and back to fiat has become widely available in the marketplace.
We posed the questions: is this something that they have had to deal with or are going to have to deal with in the future? El Salvador was a first newsworthy case but on this call we gained insight to how it is becoming more mainstream in digital businesses and therefore becoming far more common for corporates around the world.
Non Fungible Token (NFT) Definition. “A unique digital certificate, registered in a blockchain, that is used to record ownership of an asset such as an artwork or a collectible.” Collins Dictionary, who picked ‘NFT’ as their word of the year 2021.
To summarise the key learning points:
Consumer businesses are targeting digital native consumers who are increasingly.....please sign in to continue reading
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