Though its been over 10 years since its inception, the crypto-verse is still in its early stages of adoption, and the crypto-community has been pushing for furthering its global adoption for quite a while now. However, there are still many people across the world who do not know what cryptocurrencies are and their use-cases in the real world. Justifying the current position of the cryptoverse, Ari Paul, the CIO of BlockTower Capital tweeted that he would be “shocked if there was widespread usage” of crypto today.
Paul said this in response to the community’s worry about the limited adoption of crypto till date. Apart from being difficult to adopt easily, crypto is in its nascent stage and according to Paul, the current state of crypto “was like the internet in 1985”. He tweeted,“I’d be shocked if there was widespread usage today – it’s still too hard. Like asking why little usage of internet in 1985.”
In order to further the adoption of crypto and make it mainstream, there is a need to “abstract public addresses”, he said. The CTO added that customers also needed to be presented with easy and trustworthy custodial solutions and improved user experience. He tweeted,
According to the crypto-influencer, it would be worrisome if crypto users of all age groups could not use crypto with ease in a couple of years. Even though the community has been working on all the aforementioned fronts and progress has been made, it would be a long and slow process to realize this. Paul concluded by saying,“As an investor, I want to be in before that transition happens. That transition will probably be the biggest wealth creation event in crypto.”
Active participation from the community and foundations in spreading knowledge about decentralized currencies and its benefits have managed to impress a few nations and its governments. However, there are others who have downright dismissed the idea of crypto.