Bitcoin Forum

Op-Ed: We Need Crypto Security Before Simplicity


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In recent years, cryptocurrencies have become almost ubiquitous in the mainstream media. Many media outlets now have reporters or entire sections of their websites devoted to covering digital currency, the blockchain, and other FinTech innovations. Despite that increased attention, however, those digital currencies continue to be difficult to use and hard to access for most average citizens – and that’s a problem.

In fact, this is proving to be one of the biggest obstacles to gaining mass acceptance and adoption of digital currency by the public. There are several reasons for this obstacle, of course – most notably, that there is no straightforward, frictionless bridge connecting digital currency to the world of finance and commerce. Where those connections for exist, they tend to involve multiple third parties that can get in the way between you and your capital.

Of course, there’s another concern that needs to be addressed as well: security. Yes, you want a monetary system that is easy to access, understand, and use. But you also need a system that keeps your money secure. Without that security, it doesn’t matter how simple and accessible your money may be. Unfortunately, many would-be crypto users remain leery of the technology’s underlying security, and that deters them from exploring digital currency’s benefits.

Sadly, those concerns are not always without merit.

Continue reading - https://dcebrief.com/op-ed-we-need-crypto-security-before-simplicity/

I admit cryptocurrency can be a bit techy for the average user especially people who are not too familiar with the use of computers. Trust me, I have seen many people who find it difficult to use simple computer applications like an automated teller machine in my country. Now throw in the whole tech of blockchain, transaction confirmations, hexadecimal addresses, cores, nodes e.t.c to the mix and you have completely lost them. How will such people who will become the eventual users of crypto now manage the security of their money?

These are standard excuses. At a time when mass appeared accessible computers to people too it was difficult to master new technologies. But now everyone has a smartphone or tablet computer. I've seen native Americans in South America use mobile phones to make purchases in the local payment system.