Blockchain and Bitcoin adoption globally. What is the cause of the slow pace.

[jerrison]

Blockchain and Bitcoin has been on for more than a decade (according the statoshi's white paper) and up until this moment, there is still struggle in the global community in terms of adoption. Countries like India once placed sanctions on the technology and later lifted it. Russia made laws to govern and regulate the operation of the technology in a bid to take advantage of the solutions it proffers and loads of other stuff ongoing in different locations but still we still have a very slow paced increase in growth and devlopment and acceptance. What could possibly be the reason and what are the ways to further create awareness and global acceptance.

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[Akiko]

I think the reason why the adoption is slower than what it should be is beacause of many fake mentor that teach them wrong way they dont understand bitcoin properly and other crypto currency they are taking advantage of bitcoin to make scam investment .

Thats why many people is afraid of investing in it because thats what they think bitcoin is a way to scam other peoples money in the name of digital crypto currency.

The solution is to teach them what bitcoin really is and tell them that this is  not a quick money scheme that when you invest you will became rich.

[TaliskerDarkStorm]

One of the main problems is, actually, technology adoption.  Still, cash is the king and easy to use, it's still better use-case rather than the internet payment. And blockchain itself needs to be developed more for fast payments and there are some strict regulations around the states.

[yazher]

You see, more than a decade is not really that long. especially we had some serious misconceptions along the way until we have reached this far. lots of criticisms, negative speculation, and other bad stuffs threw at us throughout these years. However, we have a long way to go to see the result of each of our works to promote Bitcoin and Blockchain technology. The beginning is always hard or difficult but after this long run and after the misconceptions are cleared, we will see some great news one after another and no more criticisms since people will know the truth that Bitcoin and blockchain were only being used by those crooks to give bad names to this industry.

[Hallmader]

It is not slow but it is also not very fast or instant. This is understandable because the technology is one which is really new and really disruptive to the old traditional system, which has made conventional things in finance the daily norm of everyone. Everyone has been comfortable with the products of the traditional system like fiat or banking services. And the people behind this system are the most powerful, so powerful that even governments are under their payroll. And the governments are the ones that will determine the acceptance of Bitcoin and crypto. So it must take some time for them to really see the benefits of Bitcoin.

[akram143]

Blockchain and Bitcoin has been on for more than a decade (according the statoshi's white paper) and up until this moment, there is still struggle in the global community in terms of adoption. Countries like India once placed sanctions on the technology and later lifted it. Russia made laws to govern and regulate the operation of the technology in a bid to take advantage of the solutions it proffers and loads of other stuff ongoing in different locations but still we still have a very slow paced increase in growth and devlopment and acceptance. What could possibly be the reason and what are the ways to further create awareness and global acceptance.

Don't say more than a decade its just a decade.

Blockchain technology exists here for almost three decades and it only got implemented in 2008 by satoshi into the creation of crypto currencies.

[TastyChillySauce00]

I think the adoption is already fast enough, there are so many problem with using crypto in many countries including legality and taxes. If you see any digital payment out there they are trying to burn their money for marketing meanwhile bitcoin don't even need that and people around the world already know about it. If you want to make btc adoption faster maybe always suggest those big e-commerce platform to accept crypto like bitcoin.

[Tipstar]

I don't call it a slow pace. There are of course government reluctant to promote crypto and a lot of conservative attitude from private sector as well, but the level of recognition and popularity cryptocurrencies have got is impressive in comparison to other revolutionary technologies. The technology itself is in its early stages and still a lot to improve for use and user experience. I believe the 2nd quarter of this century would revolve around blockchain and cryptocurrency.

[cryptoperkele]

I see a lot of adoption happening, but that's just some sort of adoption. Right now the big players who want to adopt any sort of blockchain solution must be worried about scaling issues, and they need to find a right platform that offers all the things that big institutions want in order to join in.

It depends what they are using the blockchain for, but if it's even needed, for the big players blockchain probably needs to have a build in kyc if they are dealing with tokenized securities for example. That blockchain would need to have privacy instead of transparency, instant settlement finality and all happening in permissionless blockchain because without that it's really pointless to even have a blockchain.

While at the same time token issuers need to be able to cancel transactions because it's a legal an pr nightmare to try to pin the blame to an user that has been hacked or made an error because lack of skills to use the tech.

And i don't even go to the game theory on providing enough incentives for it being secure versus it being cheap enough to use, that's way over my comprehension.

That kind of service doesn't even exist yet to my knowledge. So, we shall keep waiting for that adoption.

[kkaroul4]

I think having a lot of fake investments, projects, ICOs and maybe even the increasing number of scam Defi now would really do affect the pace of the cryptocurrency. Some people are getting scammed by others without yet knowing what really a cryptocurrency is and from that they were given a wrong impression. I think to increase an awareness maybe some groups could create a foundation that is Cryptocurrency based and from that many people would be aware of what cryptocurrency really is.

[Ucy]

I think I would worry less about getting the world/institution/people to adopt the decentralized technology and just focus on developing a good decentralized framework for new business, institutions, people etc to come and build on, trade, do business, work, grow etc. So alot of problems are actually being solved to make this a possibility.

[masterrex]

IMHO, I think the main reason is the law of every country because not all countries are accepting the crypto Industry as a legitimate financial tool Because they know that cryptocurrency is decentralized thats why its very hard to control it, the second reason I think is the technology itself its quite hard to adopt for ordinary people because of its complexity crypto payment solution needs to improve more so that it will be more user friendly and easy to use with no complex addresses involve.        

[Jawhead999]

Because there's no entity/institution/governments who officially announce about Bitcoin through social media,television,newspaper etc. They only publish it on their website.

Even though almost people already can access nor use search engine, it doesn't mean they will get recommendation about bitcoin news or search about bitcoin, since they never heard about Bitcoin word.

Also too much bad news about bitcoin due to hacked exchanges, loss private keys, fake/scam service, and hard to understand it make people worried to use it.

[Ozero]

Blockchain and Bitcoin has been on for more than a decade (according the statoshi's white paper) and up until this moment, there is still struggle in the global community in terms of adoption. Countries like India once placed sanctions on the technology and later lifted it. Russia made laws to govern and regulate the operation of the technology in a bid to take advantage of the solutions it proffers and loads of other stuff ongoing in different locations but still we still have a very slow paced increase in growth and devlopment and acceptance. What could possibly be the reason and what are the ways to further create awareness and global acceptance.

In my opinion, there is no need to worry about blockchain technology. Recently, almost all states are very determined to use this technology in all areas of our lives. Even those states that are not very friendly to cryptocurrency or even prohibit it have a very positive attitude towards blockchain technology. Ten years is comparatively very short for humanity. All the more so for a completely new technology that is used alongside the Internet.
But the adoption of cryptocurrency will take much longer. This may even take several decades. Here the problem goes much deeper. It requires trust based on experience and time. Everything new is always being introduced very slowly in the world of finance, especially if it is completely different technologies.

[jerrison]

I think the adoption is already fast enough, there are so many problem with using crypto in many countries including legality and taxes. If you see any digital payment out there they are trying to burn their money for marketing meanwhile bitcoin don't even need that and people around the world already know about it. If you want to make btc adoption faster maybe always suggest those big e-commerce platform to accept crypto like bitcoin.

I see a system of adoption driven by the direct day-to-day utilities implemented and made easy via the use of the technology. I got a clearer picture when I started subscribing for my data using the DENT Dapp and it was as fast as lightening. If we had other use cases that works directly this way speedily implemented alongside the education void of governmental and agencies interrupting by means of laws and other sanctions. It would have been a take-off point.

[Febo]

Blockchain and Bitcoin has been on for more than a decade (according the statoshi's white paper) and up until this moment, there is still struggle in the global community in terms of adoption. Countries like India once placed sanctions on the technology and later lifted it. Russia made laws to govern and regulate the operation of the technology in a bid to take advantage of the solutions it proffers and loads of other stuff ongoing in different locations but still we still have a very slow paced increase in growth and devlopment and acceptance. What could possibly be the reason and what are the ways to further create awareness and global acceptance.

I dont think you can talk much of Crypto economy before 2013. Seven years is max we can talk about. None country did much. Some did a bit most did nothing. Seven years is very little. It willll take another 10 years for some results.

[r32godzilla]

Slow progress? I do not think so, the current financial system it's been here for several hundred years and after 10 years we have about 50 million cryptocurrency users. Look how long does it take to distribute computer, mobile phone, or internet to the whole world. And we are distributing totally different form of money and financial system. 

[jossiel]

A discussion is simple method to create awareness and it will gradually be known by the majority. And for blockchain and bitcoin, it's being recognized worldwide and unlike before, there's more adoption that we're seeing and companies do are looking for the adoption but not with bitcoin but with blockchain.

While for some country that don't adopt it, they don't understand it and that's why there's no reason for them to adopt it.

[forexandcryptoauditor]

I believe, the adaption should be globally along with the regulations. Most of the countries are not moving forwards considering money laundering activities and no tax payments with these transactions. Just like forex trading, there could be only selective regulation authorities which can be accepted globally. This will improve the confidence of governments as well as investors. At the moment, scammers are lowering down the investment opportunities in crypto space and thus it is also impacting the adaption.

[DarkDays]

Blockchain and Bitcoin has been on for more than a decade (according the statoshi's white paper) and up until this moment, there is still struggle in the global community in terms of adoption. Countries like India once placed sanctions on the technology and later lifted it. Russia made laws to govern and regulate the operation of the technology in a bid to take advantage of the solutions it proffers and loads of other stuff ongoing in different locations but still we still have a very slow paced increase in growth and devlopment and acceptance. What could possibly be the reason and what are the ways to further create awareness and global acceptance.

The cause is both the lack and harsh regulation. People don't want to invest millions into blockchain founded projects and then find out that regulatory changes leads to them losing a lot of their money. Similarly, not many countries have taken this seriously and devised regulations around cryptocurrency.

The infantile adoption of blockchain and its derivative crypto assets is at the mercy of officials devising strategies that would assert investors and give them the go ahead signal.

Until this is resolved, you won't be seeing many corporations placing their funds into crypto assets, although a few of them have already embarked on this risky journey, though this is not the norm.