What Will It Take For Crypto To Take Over The World
Author: Elle Miller
Despite everyone wanting to say that crypto is dead, I wholeheartedly believe in its ability to move forward. It will make waves in our future.
…but not in the way we see it today.
Granted, cryptocurrency and blockchain technology made a long way since the 2010s.
Remember when Bitcoin was still under a dollar?
The only people looking into this space are tech geniuses or enthusiasts trying it out for the fun of it.
Today, Bitcoin reached an all-time high of over 60k and could be reaching the six-digits value in a few years.
This chart shows exactly how the price of Bitcoin rose in the last decade. Despite its volatility, we’re still in an uptrend.
This was thanks to a lot of things happening in the last few years like:
- Big names like investors, businessmen, and celebrities are investing in the crypto space
- The technology is improving. It’s getting faster and faster to transact with Bitcoin.
- There are now more use cases for it. More and more companies are accepting Bitcoin as payments.
- Countries and governments are getting onboard. El Salvador and The Central Republic of Africa have named it legal tender.
- More and more institutions, banks, and governments are looking into how to harness its potential too!
Does that mean we have completely adopted this new technology and it's here to STAY?
Skeptics would give us a big, fat, NO!
May it be surprising, I have to agree with them.
Crypto and especially Bitcoin have already come a long way in the last decade. BUT, for it to take over the world, we still have a long way to go.
And I know for a fact that we’ll get there!
I mean we’re already on the way there!
It’s pretty much inevitable now. Bitcoin has reached the tipping point of adoption:
This means that we’re entering the growth phase where Bitcoin can one day be as commonplace as a smartphone.
Here are the two things that need to happen for crypto to really take over the world:
- Skeptics Must Die
Okay, that sounds a bit too much like The Purge instead of reality. Although, in some ways it’s true.
An exciting statistic based on a study done by Stilt, a loaning company, exposes that about 94% of crypto buyers are Gen Z to Millenials.
That means the younger generations are more accepting of this new technology and are recognizing its immense potential.
This has happened in a number of other types of innovations like the internet or even the use of smartphones.
Once the older generations retire then the Millenials and Gen Z-ers are in the prime position to shape what our future looks like. It is now our turn to make the decisions.
Just like the internet, the older generations protecting everything they used to know will step down. Cryptocurrency and blockchain technology will get better and more useful. Then, suddenly crypto is our everyday.
So, if you’re part of an older generation, it’s that much more important to understand this new technology.
Take the time to discover how you can maximize it because one day you might just be left behind.
- Crypto can’t just exist in Web 2 or 3. Crypto needs to be in our REALITY.
We all know that cryptocurrency and blockchain technology has been making waves in technology.
We heard the news of a virtual world Meta is making called the Metaverse.
We see NFTs being used in games and as access cards in exclusive online clubs.
These are all good and well but the real exciting news of mass adoption happens in the reality.
We’re seeing more and more people use Bitcoin in countries like the Philippines and India because banks are not as accessible.
There are now crypto ATMs that allow us to seamlessly move fiat to cryptocurrency.
We are seeing more and more businesses accept Bitcoin like luxury brands, buying houses, and so much more.
But the use cases have only started!
Just like how social media started with Friendster and MySpace, then moved to Facebook, Instagram, and now Tiktok.
Cryptographers and technologists need to start paying attention on how they can make cryptocurrency and blockchain BETTER and EASIER for normal people like you and me,
Maybe one day it will look like NFT Identification Cards? Maybe smart contracts in casting our political votes?
I’m not sure how it’s going to manifest yet but one thing is for sure. We’re just on the cusp of what this world will bring and I’m so excited for the ride.
What part of history do you want to be on?
The side that knows how powerful this technology will be. Understanding that early adopters will be rewarded. Someone who is able to harness its benefits as early as now.
Or…
Someone sitting on a couch 20 years later wishing they bought that first crypto decades ago.
If you’re interested to explore this world, we have many free resources available for you. We’re trying to remove the complicated jargon, confusing information, and overwhelming news through decryptingcrypto.com Come check it out!