businesses that cater to tech-savvy consumers or those who operate primarily online.
Shang is more cautious, however, when it comes to businesses investing in cryptocurrencies as part of their financial portfolio.
“ Crypto as an investment option is very risky, especially in the short run,” he said.“ It is not recommended to have more than 20 % of an investment portfolio in crypto assets, even if the target use date is far from now, such as a retirement account. This principle applies to small businesses as well.”
NFTs: Digital Collectibles with Real-World Potential
NFTs are another area of crypto that businesses can explore, with ample opportunity in Florida’ s entertainment-rich environment. From theme parks to concert venues to sports events, NFTs offer a creative way to deliver digital souvenirs and deepen customer engagement.
“ These NFTs can represent a digital version of a piece of memory that might be important to consumers, such as a ticket to an event,” Shang said.
“ The stablecoin and NFT use is good for small businesses of all sizes,” he said.“ Just make sure that the owner is savvy enough to protect her digital wallet.”
But like any new business venture, the use of crypto has a learning curve. Digital wallet security, understanding market volatility and choosing the right platforms are essential steps.
Shang recommends starting by exploring resources such as introductory cryptocurrency courses on Coursera, an online learning platform, and the Finematics YouTube channel for more advanced insights.
It seems that Florida’ s open business climate and diverse population may be a friend to crypto use in small business.
“ The utility of stablecoin as payment tender depends on the population’ s digital wallet accessibility and cryptoliteracy,” Shang notes.“ Florida has a rather vibrant population, and this population base will be significant.”
Patrick Evans-Hylton is an award-winning journalist with four decades of experience in business and leadership.
APRIL / MAY 2025 | 23 |