Education, Utility & Liquidity as Key drivers of Crypto Adoption

You'd all agree with me that despite the fast adoption rate that Bitcoin has recorded over the internet, the adoption of the entirety of cryptocurrency and blockchain is quite slow and till date, the average Joe is still yet to understand the entire working of cryptocurrency.

The massive development rocking the crypto space in 2022 which has drastically increased the number of Blockchain.com wallets to 81 million to date. Within the year, we've also recorded that 21% of banks have incorporated blockchain technology into their businesses in some form. Such banks in this category include big names like JPMorgan, Citi, Wells Fargo, and PNC source.

Further more, a good number of countries are beginning adopting Bitcoin as legal tenders while others are in the path of regulation, still heading towards adoption and all of that signals a huge future for cryptocurrencies. A country like El-salvador has been at the fore front and even attributing its tourism sector rebound and reduced crime rate to Bitcoin. Two days ago, Binance' CEO, Zhao, met with the President of the Central African Republic (CAR), Touadéra a meeting which was described by the CAR leader as “an incredibly important step” for his country source

According to Touadéra, during the meeting, which he also called “a truly remarkable moment,” the Binance CEO shared “some brilliant ideas” based on his experience with the crypto exchange. source

With all of these rush toward crypto, it is very crucial that we clearly define the factors that significantly aid adoption or the lack of it serving as major roadblock to its adoption. Yes, there is the need to answer this hot question: what are the pillars that can sustain the onboarding of the masses into the crypto space? In an attempt to answer, we see that everyone we introduce to crypto would always seek to get informed on these issues which I still capture as questions:

• Who should use Crypto?
• What purposes does crypto serve?
• What is the value of Crypto?

Who should use Crypto? - Education

True and wide adoption of crypto would happen when it is known that crypto is for everyone. It is pertinent that the average Joe, the laundryman, housekeeper, grandpa, school boy/girl, pastor, teacher and everyone who has in anytime used "money" get to know that they too need cryptocurrencies. This fact is hidden from many. Others has been made to think that crypto is just for the tech savvy who can trade and simulate.

There is a lot of work that needs to be done in the aspect of education and this should be the responsibility of every crypto community. The more the people get to hear about crypto from many fronts, the easier it would be to onboard them. In Zhao's meeting with CAR leader, crypto education were one of the crucial subjects of discourse.

Education, investments, crypto adoption in the Central African Republic and the region and the Sangoproject vision, were some of the topics of the meeting. Better things are shaping up for what’s to come. source

When I started talking about crypto with my church family, many religious bigots saw it otherwise and as a distraction. Four years down the line, they are beginning to see the need to to join the train. This can be alluded to ignorance. It's only education that can solve the ignorance problem. I hope we can tell moe people about threads and how it could be an easy place to start engaging crypto. It's a place to ask questions too.

What purposes does crypto serve? - Utility

It's crucial that we paint the true image of cryptO to the masses ASIED ITS USAGE IN crypto exchanges, financial institutions, and fintechs. Creating more utility across divers sectors would solve this problem. Glad that Hive and a number of other platforms are creating a deep utility for socialmedia. Today, we begin to have the masses get to hear more of Play-to-earn games, move-to-earn apps and more.

The more dapps built to replicate the functions played by web2 apps, the better. Patronage may be difficult at the start but an increasing array of usecases is just another short route to adoption of cryptocurrencies. We need more travel dapps, education dapps, dictionaries, word trivia games, agriculture, ecommerce apps, etc, that are utilizing cryptocurrencies as payment options.

source

What is the value of Crypto? Market or Liquidity

We know that people would always want to know about value at first. They'll always want to know the worth of what they stand to earn. It amuses me ach time I tried to convince friends that they can utilize their contents and time spent on Facebook to earn on Hive and all they're obsessed with is the worth of that they'll earn. I'd be like do you earn a dime from Facebook?.

This is where we need more DEXes and CEXes. The CEXes are more important in this case in that it helps to swap crypto to local fiat currencies. I sincerely thank CZ and other CEX CEOs and influencers for all they do to create a market for crypto. It adds a huge value to the push towards mass adoption.

Final Thoughts

The push to crypto mass adoption is for everyone that is here already. We'll get this done with proper education, creating of utilities (dapps) and opening up markets for assets. Every front that one can push in this tripod is quite important.

Threads is a sweet place to start. Join now and start earning $LEO, $HBD, $HIVE with few words, Memes and other short contents.

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