The Value of Cryptocurrency
As the founder of Hälsa Botanicals, I am excited to announce that we now accept cryptocurrency for purchases on our website, halsbotanicals.com.
We took this step as part of our financial model for growth and because it fits with our core values, the highest being integrity.
If you’re unfamiliar with or confused about cryptocurrency, here’s our perspective on the value it offers.
Cryptocurrency offers more transparency.
Cryptocurrency cannot be charged like traditional currency. Using crypto and the blockchain keep people and companies accountable because everything is transparent. That’s because all transactions are secured and logged on a public ledger (the blockchain). This reduces fraud and takes the profit out of money - there isn’t a bank holding money and levering that money to create more wealth for those that control the banks and the financial system.
Cryptocurrency offers opportunity and stability for less advantaged people.
As a US company, Hälsa Botanicals, is fortunate to exist in a country with relative stability. We have an advanced financial system with over 4,000 banks. We have access to banking, credit, and loans. This isn’t so for more than a third of the world’s population. More than 2.5 billion people do not have access to basic banking services that can help them improve their place in the world, give them stability, allow them to save and provide access to loans in case of crisis or emergency. The financially disadvantaged are exploited because the system often forces them to resort to doubtful and dangerous lending practices, creating even greater instability within the communities that most need stability. There are now apps and programs that give these people access to cryptocurrency, allowing them to have the same financial access we have through decentralized ledgers. This technology is facilitating a financial revolution that will leave everyone more financially connected, empowered and enabled. We think it’s important to support a system that can potentially improve the lives of so many while marginalizing those who wish to exploit them.
What about sustainability?
Given the extreme measures Hälsa Botanicals has taken to be environmentally conscious, the idea of cryptocurrency may seem contrary. Although it is true that the process of “mining” the currency has a large carbon footprint, there are huge efforts underway to change that practice. Mining is a way to keep the ledger accurate by using what’s called “proof of work” (a lot of computer power). Today, the industry has a huge push to move to “proof of stake” where the ledger is secured by people who deposit their currency in pools. This dramatically reduces the carbon footprint of an industry that we believe will change society through financial transparency and improve the lives of billions. It takes adoption and we are proud to do our part.