As put by Vitalik Buterin, Cryptos need to be used in real applications of real economic activity and the traction is surely there as local shops and markets are going the crypto route.
Is crypto adoption still as important?
Crypto adoption is making a lot of highlights at both the local and global level. With the way focus is on the adoption of the cryptocurrencies, we are working at a nice pace towards going mainstream.
Recently, Ethereum co-founder Vitalik Buterin hit the market hard with his views on crypto adoption,
“That strategy is getting close to hitting a dead end.” According to him, “The blockchain space is getting to the point where there’s a ceiling in sight.”
However, he did share the next step,
“Go from just people being interested to real applications of real economic activity.”
As put by a Redditor, Yagan,
“Current strategy for spreading awareness of crypto is a dead end because enough people have heard about it, now it’s all about real use cases and turning crypto mainstream. This is actually positive and might thwart speculation as of the main reason for the next bull run.”
Meanwhile, local shops & markets going crypto
Recently, a Redditor hockysa shared a photo, shown below which reflects Bitcoin (BTC), Ethereum (ETH), and IOTA (MIOTA) being accepted at the flea market of Berlin.
A flea market is like a garage sale that rents or provides space to people to sell or barter merchandise such as collectibles, antiques, and cheap items on a seasonal basis. It is a good thing for the crypto market that at such a basic and local level people are moving to crypto.
With comments like “this is a game changer”, “finally adoption is here, this is huge”, “it is the new face of business transaction” and “bullish” reflects the excitement of crypto enthusiasts.
Just last month, 11 wine shops in Riga went to the crypto route as stated on the official blog post,
“Now you can pay with Bitcoin, Ethereum, Litecoin, Ripple, Dash, Nem, and Steem in the Eurovins shops.”
These wine shops are able to accept cryptos through Copay, the payment processor that accepts a number of cryptocurrencies and deal in EUR, USD, GBP among others. The businesses need to apparently just sign up on the Copay website, verify the business and then get started.
No to forget that Brave browser recently achieved a massive wave of adoption as it hit 4 million active users and seeing a huge influx of growth.
The volatility of cryptocurrencies is a major hindrance to get cryptocurrencies mainstream. But over the time as the market matures, prices maintain their stability, and regulatory clarity comes, we’ll be seeing cryptocurrencies being used in our day-to-day life.
Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com