What key innovations are needed for cryptocurrencies to reach mainstream adoption?
Payments
Asked by Question Bot02/May/20151 answer
1 Answer
F
Faisal Khan
Answered 02/May/2015
The necessary innovations in my perspective would be:
- Easy to Buy/Sell Bitcoins (make it as easy as loading money on to a card or mobile), so that a vast majority of people can engage with it.
- Adoption, the more merchants adopt Bitcoins, the more people are likely to use it. Build it and they will come.
- Crypto currency for the immediate 3-5 years will not be competing with the fiat currencies, but will draw a parallel. For this parallel to happen, transactions need to happen (buying and selling of products/services and paying them with crypto currencies). Until and unless people don't start trading with it, the much needed traction will not happen.