Small business owners account for just 6% of the world’s population, but over 90% of the world’s businesses. However, as much we may want to shop local and support our small businesses, many simply don’t have the resources that their larger, corporate competitors enjoy. Small businesses find it more difficult to offer rewards programs and marketing, which big businesses can use to move spare capacity and maximise revenue on their inventory and service investments.
Meanwhile, most digital currencies remain volatile and can seem untrustworthy, as they are not backed by any central authority or commodity. The decentralised nature of these digital currencies makes them immune from interference, but the lack of regulatory control keeps many business owners sceptical of their potential to improve cash flow.
The Qoin model stands apart from other digital currencies in that the purchasing power of Qoin becomes more powerful as the merchant ecosystem grows. The more businesses that join the Qoin community, the more everyone benefits, providing a vital boost to local economies. Qoin is represented by the goods and services of participating businesses within the ecosystem.