Bitcoin, Ethereum and blockchain technologies are all the rage. Initial coin offerings (ICOs) are raking in millions in mere minutes, and every day a new initiative is announced with ever-increasing hype.
With all of this going on, you’d expect cryptocurrencies to be mainstream fare, right? Unfortunately, they’re not quite there — yet.
As of now, your grandma probably isn’t wagering Ethereum with her bridge buddies. Heck, even buying pizza with cryptocurrency sounds like science fiction. The fact of the matter is that for people outside of the hardcore crypto-enthusiast community, the whole idea is still mysterious.
So, when will this dizzying race come to an end? Is there real value in the blockchain craze? Can it possibly live up to the expectations created by so many rivers of newsprint?
As it turns out, distributed blockchain ledgers do have a future. Not only can they reduce skyrocketing IT costs, but the promise of faster, less-expensive financial transactions has the potential to accelerate growth in a host of industries.
When crypto goes mainstream transactions won’t be measured in millions of dollars, but trillions. The explosion of the global sharing economy illustrates how cryptocurrency can go mainstream.
Several companies are already changing the way things are done in this sector. They’re taking products and services that are already in existence and turning them into economic opportunities for millions of people.
In their industry, Uber and Lyft have transformed the way the world thinks about traveling by car. They’ve also empowered people who couldn’t otherwise find work to generate income.
At the end of the day, companies like Uber and Lyft don’t just change the way we think about the world — they change the world. When it comes to cryptocurrency, companies like Open Money will significantly expand the acceptance of cryptocurrencies by facilitating their incorporation into the software people are already using.
Can cryptocurrency acceptance in consumer apps open the floodgates? Now all of this sounds pretty amazing, but what is needed to bring this vision to reality?
The booming consumer applications market is the ideal starting point for bringing cryptocurrencies into the mainstream. According to a recent research study by We Are Social, more than half of the world’s population now connects to the internet with a smartphone, generating over 50 percent of all internet traffic.
Overall, 3.5 billion people around the globe consistently use mass-market consumer software.The real motor of consumer software lies in the hands of software developers. All around the globe, these individuals are innovating solutions that engage their users in powerful ways.
Cryptocurrency is on the brink of change. Soon, app developers from around the globe will empower everyone — including grandparents— to use cryptocurrency with ease. (Nostalgia: $12 checks written by older folks will soon be a thing of the past, so get your cryptowallet ready.) If they succeed, they’ll create a new market that’ll change the economic system forever.
Taken from this source...There would come a time when cryptocurrency and related apps can be so popular in the mainstream of the population as they would be utilized in many facets of our everyday lives. Bitcoin has still to reach mainstream though it is gaining grounds everyday as there is always a good rate of growth of Bitcoin adoption especially by the people. But there are still more hurdles we have to go through.
