Twitter founder and Block Inc. CEO Jack Dorsey has once again voiced his optimism about Bitcoin. This time, he highlighted Bitcoin’s huge potential in empowering micro, small, and medium enterprises (MSMEs) to have their own “bank” — without having to rely on traditional financial institutions.
According to Dorsey, by leveraging the Bitcoin ecosystem and decentralized digital platforms, MSMEs can take full control of their own cash flow, assets, and payment systems. How?
1. Square: Accept Payments Easily
Square is Dorsey's payment platform and point-of-sale (POS) system. With Square, MSMEs can accept payments from customers directly, both physically and digitally. This is the first step to managing business finances independently.
2. Cash App: Manage Cash Flow Without Hassle
Cash App allows instant money transactions and transfers. MSMEs can receive payments, pay vendors, and manage daily finances without having to wait long like in conventional banks.
3. Bitcoin: An Asset Growing in Value
Jack Dorsey suggests that some of a business’s profits be stored in Bitcoin. The reason? Bitcoin has a long-term track record of significant value increases. This provides potential asset growth for businesses.
4. Bitkey: Full and Secure Control over Crypto Assets
Bitkey is a non-custodial Bitcoin wallet by Block Inc. With Bitkey, MSME owners can store their Bitcoin assets safely and without intermediaries. This means they have full control over their digital wealth.
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Towards an Independent MSME Future
With the integration of technologies like Square, Cash App, Bitcoin, and Bitkey, Jack Dorsey believes that SMEs can build their own financial systems — like having a sophisticated, efficient, and frictionless personal bank.
For MSMEs in the digital era, now is the time to be tech-savvy and see the great potential of crypto assets such as Bitcoin. Not only as an investment instrument, but also as a tool for financial revolution.
> Not Financial Advice (NFA). Do Your Own Research (DYOR).