Why Are People Not Adopting Bitcoin? (And How We Might Fix It)

Why Are People Not Adopting Bitcoin? (And How We Might Fix It)

In a meeting at the Advancing Bitcoin conference in London, the question of what it might take to get people into Bitcoin was raised.

And, indeed, it’s a worthwhile question, because Bitcoin has been around now for a fair bit of time, and yet it’s not seeing adoption on the scale one might expect.

One of the options discussed: improving the user experience. Money is often not a fun subject to interact with, and Bitcoin is perhaps no different—and it’s got the added issue of being built on technology that is not as familiar or understood by the layperson. To them, it may simply be a thing that costs money they already have and requires technical knowledge to even operate.

Smartphones see so much use partially because the user interface is incredibly easy to learn. Consumer apps operate on stupendously simple input.

And this might be, though obviously not as drastic, where bitcoin needs to go. It’s a currency born of technology, and there’s a certain level of expectation about how operating modern technology should go among the general population. Though understanding things like hashes and the blockchain is useful, it needs to not be a gatekeeper.

People are rooted in their ways, it might take some flash, some presentation, and some welcoming arms to get them out of it.

By |2020-02-11T05:53:25-05:00February 11th, 2020|DFN COLUMNIST|0 Comments

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