SMALL BUSINESS EMPOWERMENT
Blockchain has the potential to revolutionize the global market system by empowering small business owners and giving them greater control and power in the global market. A major part that blockchain can play in this process is creating a new way for small businesses to crowdfund.
Crowdfunding and fundraising have long been an important way for entrepreneurs and startups to raise capital, though they do have their own pain points. These include the costs of these efforts, but also the lack of transparency across the small business from donors and contributors, to recipients of these funds, to even the goals of the program. However, in a blockchain-based network, these issues can be addressed through the transparency of the blockchain. Additionally, small businesses can participate in the coin market that opens up crowdfunding so that anyone, from anywhere, can help to finance the development of a business or business project.
Other ways that blockchain-based applications could help empower small businesses is through:
To promote economic inclusion around the globe, small and microbusinesses are critical for supporting future populations that will prosper in the global marketplace.
Learn more about how small businesses can use blockchain-based applications to grow their business from Entrepreneur and Nasdaq.
Crowdfunding and fundraising have long been an important way for entrepreneurs and startups to raise capital, though they do have their own pain points. These include the costs of these efforts, but also the lack of transparency across the small business from donors and contributors, to recipients of these funds, to even the goals of the program. However, in a blockchain-based network, these issues can be addressed through the transparency of the blockchain. Additionally, small businesses can participate in the coin market that opens up crowdfunding so that anyone, from anywhere, can help to finance the development of a business or business project.
Other ways that blockchain-based applications could help empower small businesses is through:
- Ownership and portability of assets (“Be your own bank”)
- Access to capital/trade finance without an intermediary
- An easier way to send remittances transnationally
- Access to credit to grow your businesses
- Reduce the risk and cost of lending
- Fight corruption
- Access to new markets with a global blockchain
- Peer to peer transactions
- Provide secure ways for women and minorities in the global market to participate with less bias
To promote economic inclusion around the globe, small and microbusinesses are critical for supporting future populations that will prosper in the global marketplace.
Learn more about how small businesses can use blockchain-based applications to grow their business from Entrepreneur and Nasdaq.