The Culprits On The Lack Of Crypto Adoption

Whenever something is not going as expected, we must find the reason why. Sometimes there could be a delay somewhere or maybe we just ‘over expected’.

Why is crypto adoption still lacking in certain areas? If crypto is a ‘person’, he is slowing jogging now in the bear market as opposed to the sprinting in the bull market. He’s still going right? However, from a certain perspective (especially to early adopters), crypto adoption is lacking.

That’s the perspective I want to cover in this post, the perspective that things could have gone a bit faster if this and/or that happened.

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Lack Of Education

Crypto is built on blockchain and blockchain technology is a fairly complex system. It might be argued that we don’t need to understand the complexity since what is more important is being able to utilize it on the surface level. But that’s a wrong assumption to have because the complexity will keep ‘erupting on the surface’.

To me, ‘understanding’ something requires knowing it from a to z. That way you’re fully equipped to be able to utilize it and tackle problems when they arise.

Lack of education is one of the culprits on the lack of crypto adoption. Explaining crypto to the uninitiated is never an easy task. It will take you at least an hour. Simplifying it to them is akin to saying ‘This is just the tip of the iceberg!”. Eventually the twist will come when the tip is over. It’s like these technologies are calling us to upgrade our software.

Another thing is the misconceptions about the space. This preconceived ideas tend to prevent people from embracing cryptocurrencies.

It Takes Time

In my opinion, it wouldn’t be appropriate to compare the internet revolution with the crypto revolution on the time aspect because the former is a complete transition from an offline world to an online world while the latter is just a step upwards on the online world. However, the crypto revolution’s impact is expected to be bigger than the internet revolution. The bigger the impact the more time it takes.

We want mainstream adoption to happen now or soon enough but the world is just not ready yet. We have to let time takes it course, slowly but surely putting all the pieces together.

The culprit is self evident but somehow we miss it. It takes time for things to 'catch up'.

Power Shuffles

Hierarchies have existed over millennia. Like a pyramid, the minority at the top ruling over the majority at the bottom. When a shuffling of power is about to occur, it gets easier if those on the top accept that their time as rulers is done. But that rarely happens, power can be quite addictive.

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This is where the ruling class will do whatever they can to prevent the system change. Even if it means falsely accepting the system or declaring it as a lost cause.

So how does 'power shuffles' contribute to the lack of crypto adoption?? They can't find a way to incorporate the new into the old system, so they'll just completely ignore the new system because the new system can't actually fit into the old system. It disrupts it.

Conclusion

Maybe the title of the post looks a bit too much but I guess it gets the point across. These are some of the culprits on the lack of crypto adoption. Time is self evident, staring us right in the face.

There has been some great breakthroughs on the lack of education part, lot of good crypto knowledge available. I myself have learned a lot about the crypto world this past months by just been on Hive. Learn2Earn model is paving the way!

This last one (power shuffles) is the David vs Goliath battle. Of course, David will win but he has to first figure out what's Goliath's weakness(es).

Thanks For Reading!

Profile: Young Kedar

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