Moving to a fully digital economy would have a significant

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prove useful for businesses. cryptocurrency or virtualcurrency in Canada What we're going to talk about Cryptocurrency: what is it?What types of virtual currencies do Quebecers prefer? What motivates users toinvest in cryptocurrencies? Who is driving the cryptocurrency trend? More thanhalf of respondents are interested in being paid in cryptocurrency Finalthoughts Virtual currencies are gaining ground in the financial sector, so muchso that the Bank of Canada is considering implementing a digital loonie .According to this article, this could only happen if one or more privatecryptocurrencies were adopted by the general public. Moving to a fully digitaleconomy would have a significant impact on businesses of all types, includingpayment processing

systems and other financial services. To help SMEs adapt tothe world of  Phone Number List virtual currencies, Capterra surveyed a thousand Canadiansfamiliar with the notion of cryptocurrency to find out more about theirrelationship with this new technology and their expectations. You will find thefull methodology at the bottom of this article. Cryptocurrency: what is it?Cryptocurrencies or virtual currencies are defined by the Canadian governmentas a type of digital currency created using computer algorithms. Thesecurrencies are based on decentralized systems that record transactions. Theseare not supported by the government. These systems are made up of peer-to-peer(P2P) networks composed by the computers of the participants in thesetransactions. As a

result, cryptocurrencies would resist inflation . thedefinition of cryptocurrency decoded for businesses/SMEs Digital currencies canbe used to purchase products and services online, although very few retailersaccept them in Canada. Even so, 25% of Canadian respondents we surveyedcurrently use, or have purchased, cryptocurrencies, while 37% plan to use themin the near future. In Quebec, the level of use of virtual currency is higher:31% of respondents indicate current or past use of cryptocurrency, but only 33%plan to use them in the future. What types of virtual currencies do Quebecersprefer? Knowing that nearly one in three Quebec participants currently usescryptocurrencies, SMEs should ask themselves whether it would not be wise toaccept