Cryptocurrencies: an excellent opportunity for SMEs
Posted: Wed Dec 11, 2024 10:22 am
Most small businesses in Mexico do not know what a cryptocurrency is, and although blockchain is a technology that is revolutionizing the world of finance and people's lives, our two recent studies show that in Mexico there is still a deep lack of knowledge regarding financial technology systems in general.
And despite the efforts of the Bank of Mexico and the Sofipos to promote financial inclusion and the banking of this sector through CoDi ‒ and although in Mexico there is sufficient technology list of chile whatsapp phone numbers to make secure digital payments ‒, there are still 40 million people without a bank account and cash remains the main form of payment .
In Mexico, people can not only send and receive remittances, according to Bitso , the leading platform for buying, selling and using cryptocurrencies, based in Mexico City, who claims that there are already 92 establishments in Mexico where you can pay with cryptocurrencies . In addition, you can buy applications for your cell phone, pay for Amazon products, consume coffee, buy flights through Expedia, or even buy books at Gandhi.
But since we know that the lack of knowledge about cryptocurrencies on the part of the Mexican micro-entrepreneur sector is quite significant, now let's analyze how the remaining 33% who claimed to know about cryptocurrencies voted.
Chart 2. Voting by labor sector.
Chart 2. Voting by labor sector.
Table 1. List by employment sector.
Table 1. List by employment sector.
Of the 50% of supermarkets and food producers who said they were familiar with cryptocurrencies, 75% said they would not implement them to receive payments.
While within the Retail sector , of the 39.4% who said they knew about it, 60.7% said they would accept it as a form of payment within their business.
In Restaurants , of the 29.8% who said they were familiar with cryptocurrency, 64.7% of businesses also said they would accept it as payment.
And finally, in the clothing and accessories sales sector , only 25.8% of participants said they knew what a cryptocurrency was. And of that percentage, a close 51.7% said they would accept it as a form of payment, versus 48.2% who said they would not accept it.
And despite the efforts of the Bank of Mexico and the Sofipos to promote financial inclusion and the banking of this sector through CoDi ‒ and although in Mexico there is sufficient technology list of chile whatsapp phone numbers to make secure digital payments ‒, there are still 40 million people without a bank account and cash remains the main form of payment .
In Mexico, people can not only send and receive remittances, according to Bitso , the leading platform for buying, selling and using cryptocurrencies, based in Mexico City, who claims that there are already 92 establishments in Mexico where you can pay with cryptocurrencies . In addition, you can buy applications for your cell phone, pay for Amazon products, consume coffee, buy flights through Expedia, or even buy books at Gandhi.
But since we know that the lack of knowledge about cryptocurrencies on the part of the Mexican micro-entrepreneur sector is quite significant, now let's analyze how the remaining 33% who claimed to know about cryptocurrencies voted.
Chart 2. Voting by labor sector.
Chart 2. Voting by labor sector.
Table 1. List by employment sector.
Table 1. List by employment sector.
Of the 50% of supermarkets and food producers who said they were familiar with cryptocurrencies, 75% said they would not implement them to receive payments.
While within the Retail sector , of the 39.4% who said they knew about it, 60.7% said they would accept it as a form of payment within their business.
In Restaurants , of the 29.8% who said they were familiar with cryptocurrency, 64.7% of businesses also said they would accept it as payment.
And finally, in the clothing and accessories sales sector , only 25.8% of participants said they knew what a cryptocurrency was. And of that percentage, a close 51.7% said they would accept it as a form of payment, versus 48.2% who said they would not accept it.