Our recently published white paper: 5 trends disrupting the wholesale distribution model explores how to create a leaner, more profitable wholesale operation.
Here we look at one of the ideas in the white paper: Cryptocurrency impact
It’s not just channels that are becoming more interconnected, influencing wholesale performance in the process. The world itself seems to be getting smaller – improvements to transport networks and logistics infrastructure have made it possible for more wholesalers and distributors to trade internationally.
However, this brings with it new complexities; local market nuances such as currency, language and regulations.
At least one of these challenges – currency – could be eradicated with the growth of cryptocurrencies such as Bitcoin. Moving to a global digital currency like Bitcoin would solve bottlenecks in payment, clearing and settlement systems, remove complications such as exchange rates, and ultimately make cross-border trading easier and more cost effective.
A word of warning, though: Bitcoin might be the most mature cryptocurrency, but it remains a volatile currency, and it has relatively low market penetration. The security risks associated with using it also mean the one world, one currency concept is still some way away from mainstream adoption.
Despite this, the concept of being able to trade in cryptocurrencies offers significant advantages to wholesalers with an international footprint and is thus a trend to keep abreast of.
Then download our white paper now to ensure your business is not being disrupted.