How to make crypto mainstream?

Although half of the population of the world is available online yet only 1% or less use or own cryptocurrency. This signals that mainstream adoption of cryptocurrency is a far-off reach. Before we get into proposing the solutions, let’s take a quick look at the key factors that lead to the adoption of a ground-breaking concept of economy. These four factors play a pivotal role: accessibility, security, transparency, and human touch. 

A renowned crypto enthusiast based out of India believes that the global economy can be redefined with the help of the four aforementioned factors. He is bullish that the factors will act as pillars in building a crypto-driven economy.

When there is a comparison between the conventional economy and the blockchain-powered economy, the latter seems more complex. The reason behind it is complicated cryptography and intricate codes that go into it. However, many of us are unaware that the conventional finance system conceals the intricacies. The complications are usually kept hidden behind the ATMs and the user-friendly banking apps.

We are so familiar with the traditional way of banking that eliminating the middlemen feels like a nightmare. We prefer depositing money with employees of the bank rather than doing it without the presence of a third-party. Do you really think it is safe? Well, it might cost your financial lives more than you could imagine such as incapacitating interest rates, monthly fees, transaction costs, passive data collection, contracts, financial exclusion, and even corruption.

2008 financial crisis almost ruined the global economy. People still have no idea that the banks and bankers had played a crucial role in it. Transparency is therefore of paramount importance. We can find the solution in blockchain as we can see real-time changes on the ledger.

Again, if something is easy to use then why would anyone not like adopting it? With that said, if we want crypto to have widespread adoption, crypto finance should be made easily accessible. This necessarily hints at developing solutions that are intuitive to use and seamless to integrate with the existing technologies.

Next factor in consideration is security. Most of the cryptocurrency enthusiasts hold the belief that blockchain-driven finance has an upper hand on traditional finance due to immutability and inherent security. However, with rising crypto crimes, it has become indispensable to integrate the best security measures.

Last but not the least, crypto can be mainstream if people start accepting the fact that blockchain technology belongs to the human. The roots are not to be forgotten if we want to hold on to the pulse of human touch.

People on the front seats driving the transformation of the economy will eventually ensure that crypto becomes more mainstream.