Are you bothered about the global rate of adoption of cryptocurrencies? Don't be, Crypto won't go to people, people will go to crypto.
Hello there, this post is the second part of the recently published article titled "Crypto Adoption Is Here! Take It or Leave It!", if you haven't read it, I strongly suggest you do before you proceed.
From the application of hard coding skills to the usage of costly infrastructure, today we have blockchain protocols that make it possible for anyone to acquire or earn cryptocurrencies.
Another example here is BAT, the basic attention token that runs on Brave browser. As a virtue of using the browser, anyone is able to earn crypto(BAT tokens) based on a specific Ad model, though earnings may vary from different locations, but even at the worst locations(Geo locations with low traffic), albeit little, it accumulates over time.
Through this, people who are total crypto noobs and have invested nothing more than their time just doing what they normally do have the opportunity to either hold the token, tip it to favorite publishers, cash it out for fiat or trade it for other tokens.
Another interesting news was also identified in an article published by Coindesk recently concerning an additional upgrade to BAT tokens use cases. BAT token holders can now use their token as collaterals for loan on the Ethereum network, talk about banking the unbanked! This is the power of DEFI!
Users can now “lock in” BAT as collateral for dollar-pegged loans. Previously, only ether could be used as collateral.
Every recent happening in technology gives a glimpse into what the next decade will look like, a world that is super inclusive - where data is gold and privacy is key, in addition, as regards the Blockchain and cryptocurrencies, there will be massive impact made on the economy of our finance and how transactions are conducted as it is already happening.
There is a general notion that before blockchain technology goes mainstream it has to go to people, but it appears that the situation is quite contrary to that notion, blockchain as a service will go mainstream when anyone can apply any of its myriad of solutions in their mode of operation and we can see that already in the works....compared to how it used to be.
Whenever a device is connected to the internet, it is automatically given access to a myriad of tools that make surfing worthwhile, one example of these tools is the web browser, a software that loads web pages, without which you can't surf the web. There is also the FTP a tool/protocol that uses TCP/IP (Transmission Control Protocol/Internet Protocol) to transfer files, responsible for uploads and downloads coupled with other tools.
Does an average internet user need to create these tools before being able to use them? No. They are mostly readily available.
This is also applicable in what is happening in the Blockchain world. Every other day there are development and upgrades of tools that enhance the usability of this new technology, we see myriad of exchanges springing up for people to trade their tokens, we see different wallets being created to enable people transact easily and securely keep their funds, we see tools trying to give people back their privacy and a ton of other solutions embedded in projects that are disrupting the world in benefit of the masses.
What we are experiencing now in the cryptosphere could be mere assembling of the chasis of a car, eventually when the car has been completely assembled, all an occupant has to do is to sit in the car as a driver or an owner and either drive or be driven.
This can be very likened to the blockchain technology as we may have it today, eventually when it gets well baked enough, and all the tools form a whole, anyone will be able to access and use it, that is the beginning mainstream adoption, as it is already gradually happening.
Bitcoin may very well be an extremely important tool in the entire blockchain, but maybe bitcoin is just the compression system in this technology, maybe Ethereum blockchain is the engine and Steem is the front seat, its all too early to tell, however each will play very important roles in forming the parts of this whole, eventually when its fully assembled, what may we have then?
BitSteemreum? You tell me.
Whatever it maybe, I ride gunshot! :D.
These are my thoughts concerning adoption. Thanks for reading.