Developers Are Flocking To Blockchain But What’s Missing For Mainstream Audience Acceptance?
Developer Have Adopted Cryptocurrencies, What Is Missing For The Mainstream Audiences To Do It?
Bitcoin still lacks adoption. That much is a fact and part of why the token crashed last year after being overhyped. While Bitcoin is still not as widely used as it can be, this will affect its market price and diminish its growth.
Because of this, several people are asking: what is the missing piece? How to actually make people start using Bitcoin? Not a lot of merchants currently accept it and the same can be said about offline establishments.
We have seen many positive changes for Bitcoin in the last 24 months and the developers are started to be very focused on this new technology but somehow this does not seem like enough in order to actually solve the adoption problem that plagues the industry so much.
Adoption From Developers Is A Great Initial Sign
It can be said that there is simply no way for Bitcoin to ever be popular without proper work from developers who can transform it into a good way to store and transact money easily. Because of this, the first step to adoption is to have great developers and Bitcoin really have great ones.
Chris Burniske has commented on this. He noticed that BTC is yet to see mainstream adoption but he argues that developers are interested in creating Bitcoin solutions for a while now and this is a very needed first step.
According to him, coders are always the first ones to use technological innovations and they often help to carve the path for the retail users which are not so tech-savvy.
He also affirmed that cryptos give more freedom for the developers because they are permissionless and they let them build whatever they want, which can lead innovation to the next level and set the precedent for several pro-consumer products.
Because of this, he believes that crypto products will attract people in time because they offer cheaper and better products than most companies and this will ultimately make the crypto world win.
What Will Make Bitcoin Really Be Mainstream?
This is a very tricky question because it is simply not easy to understand what will happen. Burniske seems to believe that it will be hard to convert people, but that this will actually happen in time. Some people believe that it will be sooner, though.
Take, for instance, Jack Dorsey, the CEO of both Twitter and Square. He recently affirmed that Square is set to support Lightning Network payments on his popular Square Cash App. Some people are under the impression that this may be a major development for Bitcoin and that it may be as big as the exchange-traded fund (ETF).
As Samsung is finally releasing a smartphone with a crypto wallet, its new Galaxy S10, these companies are slowly but steadily opening the way for more people to enter this market and for it to finally be popular.
Developers are not enough especially if they only devise solutions that only early adopters and tech-savvy people can understand. In order to really access all the benefits of the crypto world, people need apps and technologies which will enable them with proper access.
When you add all this to the fact that more and more people are starting to get fed up with service providers like Visa and Paypal, which are accused of charging large fees, and also that blockchain-based payments are so cheap, things start to look promising.
An important company named Krogan, for instance, has decided to stop accepting Visa payments as the fees were considered to be too much. This has led the crypto entrepreneur Anthony Pompliano to offer Kroger the opportunity to test the Lightning Network to see how it could be used by the company.
All that cryptos need right now are big companies which can be willing to accept its usage in order to finally get acceptance. Cryptos are already starting to be well accepted in countries like Japan, so when they skyrocket in usage in the U. S., it is certain that they will finally be ready to fulfill Satoshi Nakamoto’s prophecy of a decentralized world.