EddieJayonCrypto
29 May 22
It used to be that women spent the most money and controlled the purse strings of the household. Although that is still pretty much true, the margins have narrowed. As of 2020, only about 51% of women control the household budget. Hold that number in your head. When you look across sales, men are st...
It used to be that women spent the most money and controlled the purse strings of the household. Although that is still pretty much true, the margins have narrowed. As of 2020, only about 51% of women control the household budget. Hold that number in your head. When you look across sales, men are stepping up their game and also spending more money on bettering their own presentation. This means you have a lot of US citizens buying all kinds of retail items.With all of that in mind, let's talk about where we come from and where we are going. Back in the day, almost everything was purchased with cash, even big items like houses. Then stores introduced credit lines. It was those credit lines that helped people make it from week to week. Then the larger stores turned those credit lines into revenue streams by offering store credit cards. Seeing how much money can be made, you saw Visa, Mastercard, American Express and Discover create new cards that were more universal in use.The introduction of those more wide use cards extended the credit-based societal journey and squeezed out store credit cards. The latter still exist, but with far less of a market. Those national cards, if you will, led to people over extending themselves and having to pay massive interest rates. In addition, stores lost a percentage of their money and had to reprice things accordingly.Crypto enables people to begin the process of moving back to using actual value instead of leveraging dangerous credit. For businesses, this means they get paid all of their money where they currently have a 1.9% - 4.9% chunk taken out of their pockets. Crypto introduces an opportunity for people to take a more direct control of their finances while also helping businesses collect more of the money that is due to them, within minutes!For these reasons and a lot more you can bet adoption is coming. When it gets here someone is going to say "What took it so long!?" I will respond, that it took some time for retail to ramp up.