• Liza Shashenkova

BRITAIN'S FIRST Bespoke Interior Design Firm to accept CRYPTOCURRENCY

Updated: Apr 14

Well, well, well….we are tremendously delighted that so many of you have enjoyed all those juicy scoops of interior design banter we have been dishing out. We would like to remind you that we are here to shake up a sector that many regard as “rigid” or worse, only relevant when it is time for the odd home improvement project. Let us strip away the layers of pretension and all that rather predictable editorial content and leave you with some enlightening facts that each of you can actually apply to your daily lives with a smile (always a smile!).

Where were we this past month? You are not mistaken to have noticed we have been rather quiet but that does not mean we did not have an announcement. Checked your Twitter? Maybe you saw it whilst scrolling your Insta newsfeed with the morning cup of java? It happened….Kings Design now officially accepts the world’s most popular cryptocurrency, the Bitcoin! Most of our most vocal social media stalkers (you know who you are) had one thing to comment: “what is this all really about?”. We are here to share the truth. To be truly happy we must all live in the present but may we remind you that it is equally important for each and everyone of us to embrace the future with open arms.

“Not enough people use it!” Does not mean there is no growing user…

It is safe to say we will never forget this pair…2020 and 2021! Despite being confined to our homes, many of us have gained this seed of wisdom: no matter what, the world just never stands still! (unless there is a deadly collision with the moon, the world will never stand still!). Many companies struggled during the severe turbulence of the global pandemic but many also saw the opportunities and experienced incredible growth. Let us all give a big round of applause to the likes of Zoom, Ocado and ClubHouse. Incase you have not noticed, Kings Design went from just a simple interior design firm to a design house that aims to pioneer in sustainable design in the UK by the end of 2021. In dipping our toes into the complex world of sustainability, our mindset was forced to break free of all of our old habits and focus on always being just those few extra steps ahead of everyone else.

The Power of a Decentralised System

We have come a long way since the name “Satoshi Nakamoto” registered the website bitcoin.org…this year this remarkable discovery is celebrating its 12th anniversary.

Fast forward to the first week of this year, I am assuming most of you engaged in that compulsory ritual found in every small business' calendar, THE BIG strategy meeting! I can reveal that during our meeting, a team member correctly pointed out how essential it is to make sure our customers can buy our services with effortless ease. I am clearly stating the obvious here but this means offering a wide range of choice when it comes to payment methods.

Why Bitcoin? Shockingly enough, not because Elon said so! Think about it this way: when you are making a payment to any home improvement company, you will see icons for several payment options. The front runners tend to be Visa, Mastercard, American Express and Paypal (maybe a few others depending on the vendor). This may sound crazy but it would not be an outrageous to believe that bitcoin ATM’s will soon be supported by these big 4.

Think that the use of this digital currency is still at its infancy? Bitcoin adopters total more than 79 million people!

Why? As cryptocurrency are not processed by any bank or centralised financial authority, we can enjoy the benefits of not having to worry about those irritating fees that we tend to associate with monetary transactions (you know what I am talking about; overdraft fees, transfer fees and those other “wonderful” forms of fees that go with bank businesses). Cryptocurrency currently hold the upper hand compared to the Visa charges (ranging from 1.43% to 2.3%), Mastercard (at 1.55% and 2.66%) and Amex (at anywhere between 2.5% to 3.5%). Ok, crypto transactions is never free but it never goes over 1%. (Please note, transaction fees do fluctuate!)

I can see one question cropping up in a few heads: Well, I need a Bitcoin wallet and who needs the stress of something that volatile?

Answer: there are an estimated 300,000 new Bitcoin wallets being downloaded each month, with that number expected to grow. Secondly (and you will love this one, I promise), with a cap of 21 million this asset makes the value of Bitcoin a hedge against monetary inflation. A cryptocurrency account is entirely free and as a consumer, have you considered that a bitcoin payment system could become a better investment over time? I mean, you have seen the headlines.

Volatile? Absolutely! But love it or hate it, crypto is going nowhere, and if there is demand, it is better to start meeting it sooner than later.

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