Early last year, the value of cryptocurrency took a heavy plunge as more than $700 billion was depleted from investor pockets, BLACK ENTERPRISE previously reported.
Don’t fret! The future of digital currencies is on the rise. This new era of digital money, which represents any currency that’s available exclusively in electronic form, offers faster payments, cheaper international transfers, support for the unbanked and underbanked, and more efficient government payments.
The technology used to keep track of transactions, known as blockchain, is not only the most common form of distributed ledger used by digital currencies. It is also designed to work best in the Metaverse, which is still in its growing stages.
“The ability for Black-owned businesses to grow is how we got Black Wall Street and how we got Rosewood,” Isaiah Jackson, writes in his book Black America and Bitcoin. “We 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.”
From cryptocurrency and stablecoins to NFTs and central bank digital currency (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.
Each one, teach one
Why is education an important business practice? It is paramount for creators and consumers to take a deep dive into financial literacy and learning the ins and outs of cryptocurrency. Attaining such knowledge can help protect users and create opportunities for experts to make money.
Actor and best-selling author Hill Harper is trying to close the racial wealth gap in the United States with North America’s first Black-owned digital wallet, The Black Wall Street. Harper is laying down the foundation to “build the world’s largest investment and financial literacy curriculum and…
