Business Owners Should Leave PayPal and Move to Blockchain

Cryptocurrency platforms offer lower fees and more convenience than their enterprise competitors. This is a boon for entrepreneurs.

Do you think that in five years, one in two e-commerce transactions will be settled on the blockchain? Nope? Well, that's how people thought of plastic credit cards versus cash a few decades ago when it came to brick-and-mortar stores.

There is no doubt that Web3 will radically transform the way e-commerce works. Using cryptocurrency payments in e-commerce stores will become just as common as accepting PayPal, Klarna, Visa or Mastercard. Stores that do not adapt their e-commerce platforms to accept cryptocurrencies will soon find themselves bankrupt.

How Web3 Changed the Ecommerce Landscape

Thanks to the converging forces of Web3 (blockchain, decentralized finance (DeFi), AI and machine learning), new intelligent algorithms can analyze and adapt to deliver user-centric experiences. Additionally, Web3 will be much more inclusive than previous versions of the web. The decentralized nature of Web3 creates the ideal platform for a fast and transparent flow of information that is not subject to censorship by a central authority.

Additionally, Web3 cuts out middlemen like Facebook that take part of users' money (and personal data) when they buy something online. At the same time, all details of our transactions are public, for better or for worse. Improving the security and convenience of online transactions will increase the volume of e-commerce transactions and encourage businesses to adopt crypto payments.