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A Big Bitcoin Warning…And Other Small Business Tech News This Week

By June 26, 2022No Comments

(This article originally appeared in Forbes)

Here are five things in technology that happened this past week and how they affect your business. Did you miss them?

1 — A crypto strategist is warning people about the impending decline of the number one crypto giant, Bitcoin.

Crypto strategist Ian Harnett is warning people that Bitcoin could drop 40 percent in its value, as low as $13,000. He goes on to mention that central banks are diminishing liquidity which is causing the dramatic decrease in the popular crypto currency. The federal reserve last week raised its benchmark lending rate by 75 basis points which has been the biggest factor in the decline of digital assets. Currently, this top crypto giant has lost more than half of its value, year-to-date. (Source: CNBC)

Why this is important for your business:

Rest assured, though volatile and not for the faint of heart, digital currencies are here to stay. They’re established, accepted and moving towards greater regulation which will help decrease the wide swings in their values. If you’re a small investor in this stuff you know it’s the wild, wild west and need to make sure you’re evaluating risk/reward. If you’re a small business owner just know that digital currencies will need to be accepted and used in the not-too-distant future. Bitcoin’s problems aren’t going to change that.

2 — Twitter is expanding their e-commerce efforts by partnering with Shopify.

This partnership follows Twitter’s new feature of a “Product Drop” page which include mobile storefronts and livestream shopping. To use this combined feature, merchants are required to sync their Shopify account to their Twitter which then transfers all their products onto the shopping page on Twitter. This combination aims to help businesses reach their target audience through social media and help consumers with more refined products catered to their liking. (Source: Techcrunch).

Why this is important for your business:

Twitter is trying very hard to appeal to a wider range of small businesses, and its partnership with Shopify should help…a little. But most of the companies I know that sell online aren’t on Twitter as much as some other social platforms like Facebook, Instagram and even LinkedIn.

3 — Amazon’s first fully functioning robot — Proteus — is now working in their manufacturing warehouses.

The robot — formerly owned by Kiva — was designed to move around Amazon’s manufacturing centers by itself while carrying products throughout the warehouses. The goal for Proteus is to reduce the need for workers to manually move products to help with labor shortages and increase productivity. However, Amazon ensures that they intend to keep their human and technology resources intertwined rather than replacing them all together. Currently, Amazon is working on AI technology that scans packages instead of workers scanning packages manually. (Source: Engadget)

Why this is important for your business:

It’s not just Amazon. Companies big and small are bringing robots, AI and other technologies that are not only increasing automation but eliminating employees at the same time. If you believe we’re facing an economic slowdown, it’s important that you consider technologies like these to keep your overhead under control and limit your headcount.

4 — Google is starting to charge small businesses for previously free email and other app usages.

Google has just announced that their free apps like Google Docs and Calendars will now charge users $6 a month by June 27th. The company previously promised that their apps would remain free as their first priority was to help businesses with organization and work collaboration. (Source: NY Times)

Why this is important for your business:

This switch will affect all organizations, but unfortunately will disproportionately affect small businesses who have used Google apps to maintain their business strategies and collaborative work. Many organizations are considering moving to Microsoft which still remains cheaper than Google’s predicted $200 a month in the next two years.

5 — Some U.S. senators want to follow the EU’s lead in using the same charging cords for all phones and technology.

The European Union is adopting a law that requires all handheld technology to use the same charging cord — USB Type-Cto reduce e-waste and help consumers save money. Democratic senators call on the United States to adopt this practice and to pressure major technology companies like Apple to make the switch. (Source: Techradar)

Why this is important for your business:

Now this is a bi-partisan issue that should be pursued aggressively in Washington! A move like this would save small business significant costs and reduce our headaches.

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