Is this what's preventing wide-spread adoption?

[disconnectme]

No, you may no believe it but the main selling point for Bitcoin was its anonymity in early days. Do you know how big the dark market is, I think people need to forget the preconception that crypto is for everyone, it is for certain type of people and has these meet this market niche this is good. I don't need to do KYC to spend my fiat so why Crypto.

[Towerbreeze]

I'm sorry to say that you don't understand the freedom that crypto gives its users, we are safe from government interference because of crypto anonymity, I'm able to have some money without the government knowing how much my worth is, I'm not scared of the technology like you claimed and I'm happy that Nakamoto created bitcoin

I think what OP means is about the government purely accepting blockchain technology. The fact that they're scared of using it which prevents regulations is a major blocker for adoption. Once they see a platform that they can trust, and that they can see people without the need of being anonymous, then they may start at it.

The public wants to be anonymous, the government sector won't in its areas.

It's left for the public to make a decision here, crypto is here to provide that anonymous for us, of course the government won't like this but who cares anyway? Those who aren't embracing crypto presently are those who are too scared of losing their money, even if government do legalized crypto there will still be losses and profits, crypto is volatile

[darewaller]

Anonymity in bitcoin is a preferable thing, not a forced or mandatory thing. You are given a wallet address and you can never reveal that your wallet address is this or you can simply just tell everyone what your address is. So, in the real world if you do not want to stay hidden, simply just put your money in a card, and spend that card, and your card will basically show wherever you spent your money on and how much and so forth.

This is why that can't be the reason, the simple reason is the fact that everyone already has currency that they use, to tell people start using another currency at all is difficult. Even when everyone moved from their own currency to Euro it was difficult and that was mandatory, so I do kind of understand why something like bitcoin may take some time.

[HunterUnchained]

Another thing hindering mainstream adoption of blockchain and cryptocurrencies is the lack of control it has. Since most governments and economies lack the ability to control Bitcoin which they consider a great threat, they have taken it upon themselves to ensure its adoption nver see the light of the day. There have been several reports of big financial bodies doing all they can to ensure the topple the immense success blockchain has recorded. In a bid to keep the power of financial dominance in check, these institutions have taken it upon themselves to ensure the blockchain innovation is killed at all cost.

[bigcash2011]

Even if this is the hurdle for blockchain and crypto mass adoption i think the solution can be easy and it can be developed in few weeks time, for example, ethereum is the largest platform used till now for dapps, defis, businesses, automation and other purposes, the solution can be that they come up with an additional feature where each and every wallet or id must be affiliated with the basic bio data or with full kyc as the regulators may guide and then i do not think there will be any exchange left to adopt crypto.

[Ridwan Fauzi]

Take a look Chinese government now, they are implementing blockchain system in all aspect.

What that's mean? It is an adoption that we didn't think before and it could make a lot of countries out there adapting it.

As we know, the system that being used by most people in this world is using technology. They are refused the traditional system because they find a lot of disadventage.

Can you thinking how much fees that must be spend if you send money through traditional system? You'll need a long time to accept your money and you need to spend a lot of money to doing so. But with blockchain you don't need to spend more time and high fees, in one minutes and $1 to make a transaction.

[Kelvinid]

Anonymity makes it more vulnerable to illegality and it gives worries for the government authorities to resolve problems especially when it involves crime. But that is not the reason why they are not encouraging people to adopt the system, it is also because of its volatility feature where people get at high-risk investment. They have some claims and that security level is somewhat a big problem in crypto.

[hushpupppy]

I do not agree with you, there are widespread adoption of crypto currency already across several nations, and the core reasons why it seems otherwise is that not all government have legalized it.

But to my believes, government quiet about crypto currency and blockchain are excited ethusiasts.

[HodlerKing101]

I do not agree with you, there are widespread adoption of crypto currency already across several nations, and the core reasons why it seems otherwise is that not all government have legalized it.

But to my believes, government quiet about crypto currency and blockchain are excited ethusiasts.

But one of the biggest countries which U.S, are not really believers.

[Bitstar_coin]

Besides Anonymity, I think the major reason is not been regulated, government and business parastatals are all about regulations and control which this space do not possess, even though being anonymous and not able to have the identity of who is or are behind a project is part of the reason, not regulated is also another reason, and from my on opinion this would be a major set back, it won't be easy to form a business in an unregulated environment, there will be a lot of problems as a result.

[iv4n]

You can be anonymous in crypto, if you want to be, but in the same time crypto can be transparent! Why to complicate, I don't care about you guys here, you can be anonymous, it's your thing, but all public and health organizations should be transparent. Do you think that politicians will be able to cheat people if every transaction they make is visible to all of us?
I think that wide spread adoption is happening for years, it's just not fast. People are learning slowly about this new technology, but new people are coming, and mostly those people (like many of us here) are sick from banks and stupid government regulations, politicians that work for rich people.
You talk about how we need government regulations, I say blockchain is already regulated in many ways, every coin is regulated, you know what you can and what you can't do, you know how it's being distributed.

[Golftech]

Besides Anonymity, I think the major reason is not been regulated, government and business parastatals are all about regulations and control which this space do not possess, even though being anonymous and not able to have the identity of who is or are behind a project is part of the reason, not regulated is also another reason, and from my on opinion this would be a major set back, it won't be easy to form a business in an unregulated environment, there will be a lot of problems as a result.

Most of the business tycoon always wanted to have clear deal, if they don't know who are they dealing with then it won't be easy to convince them. Same thing with adopting this system, if there's no clear explanations how things works then it will be harder for more businesses to established this system being used and be  adopt from their everyday transactions.

[akram143]

One of the reasons why blockchain technology is not being widely used in the government and business sector is because of its anonymity. Guys just don't know who's doing what and people are scared about it. Blockchain is still an unfamiliar technology when it comes to regulation. We trust the cryptography, the protocols, the software, the computers, and the network, but this trust must be embedded in larger governance systems.

Existing major enterprise solutions are neither distributed (Hyperledger + Corda) nor have a focus on privacy. There is little to no progress here and these solutions are essentially just glorified databases.

Is this what's preventing wide-spread adoption and will a platform with a regulatory compliant identity layer be a solution? I think once governments start using this, they'll understand the technology more and the rest should follow.

Blockchain maybe anonymous when it comes to cryptos but all the transactions on blockchain are completely transparent and its not possible to alter anything once it get recorded there so governments can implement them on various sectors and the process has been taken by some governments already.

[michellee]

I do not agree with you, there are widespread adoption of crypto currency already across several nations, and the core reasons why it seems otherwise is that not all government have legalized it.

But to my believes, government quiet about crypto currency and blockchain are excited ethusiasts.

But one of the biggest countries which U.S, are not really believers.

Maybe they are not, but if the crypto spreads widely and reach more people out there, people in the US will follow too if they don't want to be late. While crypto is growing from time to time, people need to learn before they join in the crypto world. People will choose what they want, and if they want the freedom to manage their money, they will use crypto.

[Stanlo]

People in the U.S are fully into crypto, I have friends in this part of the world that fully embraced the technology, crypto was never built to be a government's pet, people who are waiting for govs approval or legalized missed some details about what crypto really is

[skeleto88]

People in the U.S are fully into crypto, I have friends in this part of the world that fully embraced the technology, crypto was never built to be a government's pet, people who are waiting for govs approval or legalized missed some details about what crypto really is

Not most I guess most especially their government is still against the legallty of crypto in that county and I guess it would take time them to fully embraced unlike in china, korea and japan have already been in crypto legalization. It would take a little time of us to see it globally adopted.

[litepool.ru]

People in the U.S are fully into crypto, I have friends in this part of the world that fully embraced the technology, crypto was never built to be a government's pet, people who are waiting for govs approval or legalized missed some details about what crypto really is

Not most I guess most especially their government is still against the legallty of crypto in that county and I guess it would take time them to fully embraced unlike in china, korea and japan have already been in crypto legalization. It would take a little time of us to see it globally adopted.

Honestly, we will need a lot of time to see the cryptocurrency being applied globally. It is a very difficult problem to happen because the laws are different in every country and their mindsets are also different. BTW countries in Asia seem to love cryptocurrency

[Finestream]

The transaction online in the blockchain could be anonymous but the moment you trade it to cash and cash out or when you deposit, it will not be anonymous as the moment you create an account in an exchange site, you'll need to comply with the KYC.

let us not confuse ourselves with the blockchain anonymity and exchange transaction as they are different.
If crypto to crypto transaction, its anonymous but once it involves fiat, you'll loss your anonymity.

[mersal]

People in the U.S are fully into crypto, I have friends in this part of the world that fully embraced the technology, crypto was never built to be a government's pet, people who are waiting for govs approval or legalized missed some details about what crypto really is

Even though many people wanted to get into crypto still it is not considerable amount compared to total population of that country, legalization can be a factor but having no one to educate the economy structure of the government is the main thing.People thinks that money is safe but they never aware that the purchasing power of money keeps losing because of inflation.

[eaLiTy]

One of the reasons why blockchain technology is not being widely used in the government and business sector is because of its anonymity. Guys just don't know who's doing what and people are scared about it. Blockchain is still an unfamiliar technology when it comes to regulation. We trust the cryptography, the protocols, the software, the computers, and the network, but this trust must be embedded in larger governance systems.

Hope you have read all the responses, first you need to study how the blockchain works, it is not about anonymity but the opposite what it does.
Think about what blockchain does, it is a record that cannot be manipulated or erased and if that is the case, how can you think about being anonymous .

I'm sorry to say that you don't understand the freedom that crypto gives its users, we are safe from government interference because of crypto anonymity, I'm able to have some money without the government knowing how much my worth is, I'm not scared of the technology like you claimed and I'm happy that Nakamoto created bitcoin

Government will always find a way to interfere in the market, the regulations are coming and there is no way you are going to hide from that. All the crypto exchanges will be regulated and if you are planning to use any, you need to verify your identity and every transactions can be monitored.
In future majority of all the scams and frauds that use BTCitcoin can be traced and that is what i am hoping.