Noelia Lázaro: “Stable cryptocurrencies are interesting options for e-commerce in Spain”

E-commerce has become one of the main drivers of the Spanish economy. According to the latest figures from the National Markets and Competition Commission, the sector generated 13.6 billion euros in the second quarter of 2021, 13.7% more than the previous year and the second best score in the historical series. However, eCommerces have a recurring problem: the incompleteness of the purchase process.

According to a study conducted by the Baymard Institute, 68% of customers in line abandon their basket before completing it. And among the top reasons that push two-thirds of shoppers to do so are “lack of trust when providing bank details” (18%) and “lack of alternative means of payment” (9%). For these reasons, more and more brands are betting on alternative means of payment, such as Bizum, Apple Pay or digital platforms such as PayPal. Although one of them has been resonating more strongly lately: the cryptocurrencies.

It’s a technology that, although it’s been with us for over a decade, now seems to be living its golden age. Fashion stores, travel agencies, and of course, the entire technology sector, have started to implement this digital currency among their payment options, while the level of market capitalization of the two most used currencies: Bitcoin and Ethereum, is well over $1 trillion. .

In this regard, from we consulted Noelia Lazaroe-commerce specialist and marketing director of packlink. From their comparison and contracting platform for parcel shipments for individuals and companies specializing in e-commerce, they assure that among the advantages of using cryptocurrencies are immediacy, confidentiality and security, as well as the low cost of bank transfers. And among the risks, the volatility, regulation and fragmentation of currencies stand out, as well as the high energy consumption and the strong environmental impact generated by the series of complex cryptographic calculations that secure and record cryptocurrency operations.

Faced with this interesting scenario that seems to open up a world of possibilities in the e-commerce sector in Spain, the expert responds:

-What is the main attraction offered by cryptocurrencies to the e-commerce sector?

-The blockchain technology used by cryptocurrencies is its main attraction in the e-commerce sector. It is a digital tool, typical of our ecosystem, which allows transactions to be validated through a completely decentralized and anonymous system for both those who validate the coins and their owners. We don’t know if it will be Bitcoin, Ethereum or a new currency, but of course this technology is here to stay.

-Is e-commerce in Spain ready to introduce and grow in cryptocurrencies?

-Yes of course. One of the main advantages of the digital ecosystem is that any company, regardless of size and sector, can apply all kinds of technological solutions. While it is true that there are still months or even years to go before the use of cryptocurrencies becomes mainstream, we are already seeing examples of companies that have implemented digital currencies as a means of effective payment.

-What does it take in Spain for cryptocurrencies to be in everyday use?

-Cryptocurrencies still present a series of challenges that prevent their use from being mainstream. For example, its high volatility. For this reason, the increasingly common presence of “stable coins” or stable cryptocurrencies, that is, those that use blockchain technology but have a more or less fixed value and are linked to a currency real, are usually one of the most popular options. interesting from an e-commerce point of view.

-When could they be in regular use?

-It may not be widely used in the coming months, but we have already seen how the most technological sectors have started a gradual implementation of cryptocurrencies. The most important thing is that the e-commerce sector is able, once again, to anticipate the needs of its users and this, of course, means not losing sight of this technology.

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