How Bitcoin Could Power a New Wave of Small Business Innovation

Earlier this year, while at a local restaurant, I began talking to the owner about bitcoin and payments. He mentioned that 35%-40% of his transactions were once in cash; now they’re 5%. He said that he pays almost $100,000 a year for processing charges – all while his food prices are increasing double digits. His options: Raise prices and risk losing patrons, buy lower-quality food and risk reputational risk, or find some way to regain margin.