Will the Construction Industry be forced to, or choose to, adopt Cryptocurrencies?

Asked 1 year ago

2021-05-17 20:20:43

The method of money transactions is vastly changing with the advent of truly digital and decentralised monetary transactions as a result of Cryptocurrencies started with Bitcoin and followed by a plethora of "Alt coins".

From Governments, Intuitional Investors and traditional banks are all playing catch-up. The Bahamas is the only country in the world that has a live cryptocurrency that is government backed with China currently in pilot run as we speak.

I can see the construction industry being forced to change its method of payment for services and products firstly in part payment by Bitcoin and/or Alt coins .

This should in theory mean payment cycles improve, but will it or will there be manipulation of the quantity of cryptocurrencies used to pay for the products and/or services when the prices of that coin best suits the payer rather than the payee?

What do you think on the adoption of Cryptocurrencies in the industry, will we be forced or will firms take the plunge first and will this improve or worsen the payment times?

Andrew Crawford
Andrew Crawford
Director at CAP X SOLUTIONS LTD

Asked on Mon, May 17, 2021 8:20 PM

Get full access to our construction knowledge base, latest news and updates ... Join the discussion.

Create your FREE Account

By signing up, you agree to Construo's Terms of Use, Privacy Policy and Cookie Policy

OR

Already on Construo? Let us take you to