As explained in the former article, bitcoin air is going to be opening new doors for cryptocurrency users traders, from individuals, small business owners to big enterprises. In this article, I will be doing a business analysis of the bitcoin air project in order to highlight the positive and negative aspects of the project.
Business Analysis
Business analysis is a useful tool for analyzing new projects especially for investors and early adopters. I will, however, be using the SWOT analysis business tool to perform a business analysis of this project.
SWOT is the acronym of Strength, Weakness, Opportunity, and Threat.
Strength
This highlights the major strength of the project as compared to other similar cryptocurrencies.
The major strength if bitcoin air is in its air protocol concept. This is a revolutionary new concept that sees the platform utilize side chains to pin against the dollar the value of the cryptocurrency at any point in time.
Bitcoin air possess the basic quality that will make it adaptable for users and businesses, the swap process of XAP to and from USDAP not only protects the value of the coins being swapped but also protects the value of the remaining circulation coins from inflation by reducing and increasing total supply based on the number of coins getting swapped.
This Is a major strength not only for bitcoin air but also for the whole crypto space.
Weakness
This is a major weakness that this project possesses.
Bitcoin air still has some similar limitations with other projects as to how consumer friendly it is. Users and small/medium scale business owners are very much the backbones of the largest economies in the world.
These are people that value simplicity and ease. They value comfort very much, and for cryptocurrencies to really compete with fiat, spending them on paying for services and goods has to be just as easy.
Some crypto projects are already adopting consumer-friendly features like credit/debit cards which I think Bitcoin air should also do well to adopt.
Opportunity
This highlights a major opportunity that this project provides.
Critically examining bitcoin and the progress of cryptocurrencies as a whole over the years, it is evident that this is still very much the tip of the iceberg.
Bitcoin and a few other cryptocurrencies irrespective of their volatility are already accepted in exchange of goods and services in some stores and e-commerce platforms around the world.
A more stable cryptocurrency and one which is capable of holding its USD value at any point in time provides a much better alternative and will appeal to more people who have been otherwise skeptical in the adoption of cryptocurrencies for their businesses.
The opportunities that bitcoin air provides is enormous.
Threats
As far as threats go, I do not see much of a threat for bitcoin air from the existing cryptocurrencies on the coinmarketcap. Nevertheless, this innovative project opens up new doors for future crypto projects and companies who will see the potentials of side chains and will apply it to their platforms, albeit a more user-friendly platform.
Conclusion
The strengths and opportunities of bitcoin air are practical and achievable. Although it has a few weaknesses, these are less significant considering the present market landscape. The threats, on the other hand, are more hypothetical.
I strongly believe that bitcoin air is a project that provides the kind of stability that crypto users have been longing for, and will be met with a good acceptance in the crypto space.
Official Contacts
Website: https://bitcoinair.org/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5044039.0
Short-paper: https://bitcoinair.org/wp-content/themes/btc_air/downloads/ShortPaper.pdf
Telegram: https://t.me/BitcoinAirENG
Discord: https://discord.gg/Cr92Htu
Twitter: https://twitter.com/BitcoinAirUSA
GitHub: https://www.github.com/BitcoinAir
Connect with me on bitcointalk here>>
My Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1556229
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