Not only the title of EF Schumacher’s, at the time, controversial look at modern day economics, it’s also what we believe when it comes to financial transactions.
The core of Schumacher’s argument back in the early 70s was that we were becoming over obsessed with ‘gigantism’, and that big was not always best. So while we might dream big, the reality is that much of today’s business is driven by entrepreneurs and small to medium sized enterprises. And for those starting out, small transactions and the ability to make them quickly, can drive spontaneous sales and boost profits.
Whatever your business, entering credit card details and taking the hit of transaction fees for small sales is time consuming, costly and frustrating, not to say a drain on your profit margins. That’s why there is a general move towards driving down transaction costs through, for instance, the introduction of online apps targeting micro businesses, which we welcome. But even small percentage transaction fees add up if you are selling a small value, high volume service or product.
A digital currency such as LEOcoin is ideally suited to processing micropayments because it’s already transaction free – which is why we are experiencing such an enthusiastic and positive response to LEOcoin around the world. We’re ahead of the wave folks – join the LEOcoin revolution!
