In 1962 Marshall McLuhan coined the term Global Village to describe the instantaneous movement of information from every quarter to every point at the same time.
In 2017 we live in the Global Village and although media travels (mostly) instantaneously without the need for regional restriction and delivery thanks to the internet, it’s only (really) in the last five years that we’ve seen this space open up to finance.
The ability to pay or be paid, independent of national borders, political boundaries or exchange limitations is a huge step in global development.
Bitcoin allows payment transactions from Ghana to Guernsey happen without an intermediary taking a cut. Bitcoin is the currency of the Global Village we live and operate in.
Over the last five years at CamKix, we have grown from a three-person bedroom startup, to a worldwide e-commerce business - with operations in every continent on the globe.
After the launch of our new web store in June, it quickly became apparent that many of our supported payment methods (Amazon, PayPal, Bank Transfer) were not only restricting but resistant to expansion plans.
Our customers are adventurers, travelers, athletes, photographers, nomads, and creatives - often on the move - and, after multiple requests for Bitcoin support, it became obvious that it was something that needed implementing.
So, from today we have added BTC as a payment method on our store, with a clear roadmap to add other forms of cryptocurrency in the coming months.
The key takeaway after having made our first sales with BTC is that in many ways - we are already behind. Those resistant to cryptocurrency in the e-commerce space typically cite concerns with security, complexity, and fear of the unknown.
Our message to other businesses hesitant about adopting Bitcoin is simple:
Understanding TCP/IP is awesome, but it’s not necessary to know anything about it to send an email.
Understanding cryptography and the blockchain is awesome, but it’s not necessary to know anything about it to receive Bitcoin.
Almost all of the fears for businesses onboarding Bitcoin as a payment method have been completely removed. We actually found it easier, quicker and cheaper to setup Bitcoin payments than integrating any of our fiat payment processors.
If you can setup Stripe or PayPal, you can setup a risk-free experience with BitPay or your own wallet.
Automating Bitcoin payments to be converted into fiat is cheap and reliable. HODLing Bitcoin in a wallet is even cheaper and easier.
As a consumer or a business, cryptocurrency is rapidly changing our economic landscape and it's never going to be too late to adopt.