Paul Okhrem is Managing Partner at Elogic Commerce, a development company founded in 2009 and focused on the e-commerce market. His firm has aided businesses in developing online shops.
Okhrem is an e-commerce professional. He wrote a blog post recently, recommending today’s firms integrate cryptocurrency payment gateways into their operations sooner.
We find this informative article by Mr. Paul Okhrem educational, and we would like to share it with our readers. We believe our followers will learn more from this e-commerce professional’s insights regarding the benefits of adopting cryptocurrency payment gateways by today’s business establishments.
Based on Okhrem’s blog post posted online by financial technology news and information source Finextra Research, he wrote that virtual currency payments have all the chances to become the industry standard for e-commerce establishments quite soon.
He urged companies not to lose this capitalization chance. The Elogic Commerce Managing Partner added that integrating cryptocurrency payments in business owners’ e-commerce operations can bring more trust and transparency.
Okhrem discussed the benefits of cryptocurrency adoption in e-commerce. Among these perks are reduced transaction charges and significantly hastened transactions.
Okhrem also cited that virtual currencies open up global markets. E-commerce firms can receive payments in a couple of minutes regardless of their operation’s time zone.
The Elogic Commerce executive, whose company has offices in New York, Sweden, and Estonia, pointed out that cryptocurrencies can help facilitate online enterprises’ cash flow as well.
Okhrem asserted that cryptocurrency utilization in e-commerce today is more than just hype. He cited that crypto-assets are “the new black” and are no longer mere buzzwords.
Okhrem detailed the leading retail establishments that have become the early cryptocurrency adopters over the past ten years. They comprise Microsoft, PayPal, Shopify, Home Depot, and Sotheby’s.
In Okhrem’s article, he also mentioned Whole Foods Market, Wikipedia, Overstock, Twitch, Expedia Travel, Newegg, and Namecheap as among the many companies honoring cryptocurrency payments.
He pointed out that other industries, including luxury, art, and non-fungible token or NFT marketplaces, already accept virtual currency payments as well. We are on the same page as Mr. Paul Okhrem.
We agree that crypto-asset payment acceptance is increasingly becoming mainstream these days.
During the early stages of cryptocurrencies in the financial market, we can recall that financial analysts had predicted the quick decay of blockchain technology and cryptocurrencies like Bitcoin.
However, we noticed that social media newsfeeds had involved articles tackling these financial technologies as years went by. Like Mr. Okhrem’s perspective, we believe many companies, big and small alike, will adopt virtual currencies in the coming years.
These firms will continue to witness how rapidly the world responds to cryptocurrency utilization. Therefore, we recommend e-commerce companies that have not jumped on the cryptocurrency bandwagon yet carry on assessing this payment mode’s merits.
We believe these enterprises will eventually understand that the business world and other fields will continue to adopt cryptocurrencies.
We think this reality will notify e-commerce firms about what will become the new normal in the payment systems industry and convince them to integrate virtual currency payments into their operations sooner.