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Early last year, the value of cryptocurrency took a heavy plunge as more than $700 billion<\/a> was depleted from investor pockets, <\/a>BLACK ENTERPRISE<\/strong> previously reported.<\/p>\n Don\u2019t fret! The future\u00a0of digital currencies is on the rise. This new era of digital money, which represents any currency that\u2019s available exclusively in electronic form, offers faster payments, cheaper international transfers, support for the unbanked and underbanked, and more efficient government payments.<\/p>\n The technology used to keep track of transactions, known as blockchain<\/a>, is not only the most common form of distributed ledger used by digital currencies. It is also designed to work best in the Metaverse<\/a>, which is still in its growing stages.<\/p>\n \u201cThe ability for Black-owned businesses to grow is how we got Black Wall Street<\/a> and how we got Rosewood,\u201d\u00a0Isaiah Jackson<\/strong>, writes in his book Black America and Bitcoin<\/em><\/a>.<\/em>\u00a0\u201cWe were able to flourish as a middle class because the currency was not controlled, and we were not held to the standard that we have to use the dollar.\u201d<\/p>\n From cryptocurrency and stablecoins<\/a>\u00a0to NFTs and central bank digital currency<\/a> (CBDC), take a look at these business practices that have the power to sustain financial freedom, make a difference in the world, and avoid another billion-dollar loss. Some Black-owned crypto and blockchain businesses are on their way.<\/p>\n Each<\/b><\/span>\u00a0one, teach one<\/b><\/span><\/p>\n Why is education an important business practice? It is paramount for creators and consumers to take a deep dive into\u00a0financial literacy and learning the ins and outs of cryptocurrency. Attaining such knowledge can help protect users and\u00a0create opportunities for experts to make money.<\/p>\n Actor and best-selling author Hill Harper<\/strong> is trying to close the racial wealth gap in the United States with North America\u2019s first Black-owned digital wallet, The Black Wall Street<\/a>. Harper is laying down the foundation to \u201cbuild the world\u2019s largest investment and financial literacy curriculum and toolkit for Black and Latinx communities across the diaspora,\u201d per a story in BLACK ENTERPRISE<\/strong>.<\/span><\/p>\n With digital currencies increasingly becoming a part of the everyday lives of consumers\u2019 lifestyle and our economy, businesses can capitalize on this trend by\u00a0reaching customers where they are with innovative digital assets.<\/p>\n \u201cFrom a consumer-centric perspective, blockchain technology has the potential to substantially transform consumer relationships by enhancing data and information transparency and improving privacy and security,\u201d said<\/a> ONR<\/a> CEO Jason Ten-Pow<\/span><\/strong>. \u201cThis blockchain innovation allows for innovative forms of consumer loyalty programs which have the potential to create additional value and deeper customer connections.\u201d<\/p>\n According to its website, Crypto Blockchain Plug,<\/a> the first Black-owned, brick and mortar digital asset education center and exchange in the country, is making a community impact. The center also serves as a community co-working and venue space that can be booked for a wide range of events.<\/p>\n Diverse perspectives are necessary to create effective and sustainable business solutions. There is\u00a0no exception for the heavily male-dominated crypto and blockchain industry.<\/p>\n Women now represent 48% of the entire global workforce, according to Teamstage, <\/a>but the\u00a0industry\u00a0must lead with diversity and inclusion as part of its growth. This number, for instance,\u00a0encourages diversity and the embrace of ideas that resonate more with underrepresented groups.<\/p>\n With ambitious efforts, organizations are\u00a0building an inclusive cyrptoeconomy, such as the\u00a0National Policy Network Of Women Of Color In Blockchain,<\/a> and through intentional partnerships with blockchain enterprises, institutions, and other entities.<\/p>\n \n<\/div>\n !function(f,b,e,v,n,t,s)Fostering community, consumer impact<\/h3>\n
Lead with diversity and inclusion<\/h3>\n
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