Crypto Needs to Feel More Like Fiat – PROTMASTERNODE

0 21


This is Adapt, a series about the mass adoption of cryptocurrency and what it will take to get there.

When it came to the early crypto adopters, it probably didn’t take long for them to be convinced to create their first crypto wallet. It was love at first time when they did their initial research and understood it amazing capabilities right away. Then you had your investors who saw the potential growth it could harness to be able to make them income. But what about the mass population? What will it take to make them ditch fiat and join the crypto revolution?

A report by Kaspersky Lab found that 19% of the world has purchased cryptocurrency. In America that number is around 8% of adults who have made a purchase. But it countries where the fiat economy is suffering from hyperinflation like Venezuela, the population searched for new ways to control their money and cryptocurrency was the solution. But in a country where around 80% of the population doesn’t have access to smartphones, how does crypto thrive? Build cryptocurrency ATMs.

The answer is that crypto must be as familiar as fiat. Yes, the exact thing it is trying to replace. Fiat is already everywhere. We’ve grown up with it and already quite familiar with how it works. The transition from fiat to crypto must look like it never even happened, otherwise people will resist the change.

For the most part, the majority does not want to be bothered with learning about the science of blockchain technology. When it comes to money, they just want to be there and know that it will be able to buy them something. It works just like just when you are a little kid and you wanted a treat. Your mom or dad would give you a small amount of cash and told you to exchange that piece of paper with the cashier for the piece of candy you wanted. Slowly you start to understand how much things are worth and work for more of that piece of paper, even though nowadays that paper is electronic which is even closer in relation to crypto.

So, the more that we have cryptocurrency feel as familiar as fiat, the quicker and easier it will be for the world to take up mass adoption.

You might also like

Pin It on Pinterest

Share This

Share this post with your friends!

WhatsApp chat