Are Crypto currencies much inexpensive way of doing business?
Jonathan Johnson, ex-chairman of Overstock’s board of directors, affectedfrom the benefits of crypto currencies and noted the tremendous potential of Blockchain-based technology. Despite the currently hemorrhaging market, he still sees a lot of advantages in utilizing crypto currencies over traditional credit card payments.
Who are accepting crypto currencies?
Currently sitting on the Board of Directors of Overstock.com – a major online retailer accepting crypto currencies as a payment method — Jonathan Johnson shared his overtly positive sentiment towards virtual currencies and their underlying technology with Forbes.
What about transaction fee?
When we take crypto currency, we have a very small transaction fee, much smaller than our credit card processing fee, and we have no fraud prevention department. It’s like a cash transaction. For us, that is a much inexpensive way of doing business. - (Jonathan Johnson)