A few days ago, I spoke to a pilot who has had little work to do recently due to the coronavirus. We also spoke about how a Hungarian airline has started domestic flights in Norway. The Norwegian Prime Minister didn't like the idea of flying with the Hungarian airline, she would rather support the Norwegian airlines. Do you know what I thought? The customers will purchase and use the airlines giving them the best service and the cheapest tickets. They don't care so much about politics - they want a solid use case and low prices! And that leads us to the future of crypto!
When cryptos will go mainstream!
Today, the world of crypto is mostly inhabited by two groups.
- The idealists, those who love it because of the technology.
- The capitalists, those who trade, and take advantage of the chances for quick profit.
However, the average person doesn't fit into any of those groups. Their lives are more than busy enough just going to work, studying, purchasing food, eating food, thinking about what to eat for the next meal, and then to get some sleep. So, what will the future bring to all of is? What will be the role of crypto in this world?
Own creation - with some help from Pixabay
The technology will win - it is impossible to stop!
People will turn to the blockchain technology and to cryptocurrencies when it is worth it. My mother is skeptic to everything that is Bitcoin, Ethereum, Litecoin, and all the other currencies she hasn't heard of. Why would she ever use such stuff? After all, only criminals and terrorists use them?!?!
But, if she would decide to travel to Vienna and I could tell her that she can pay 20% less if she book her hotel room using Travala or Locktrip, then I would for sure get her attention. Because, she doesn't mind using the technology as long as it is profitable for her to do so! Blockchain will go mainstream when people start to use it, not because it is a mean to invest, nor because they are idealists, but because they are practical and want to save money!
Another way in which cryptocurrencies will go mainstream is when people use the technology without knowing it. How is that ever going to happen? Did you know that Vechain is already cooperating with wine producers in several countries, making it possible for people to scan the label of a wine bottle to get exact information about where it has been produced, when, and even more concrete data about that given wine bottle. Whenever they scan, a VeThor token is used in the process. The buyer doesn't really know or understand what is going on, but the technology is used and is going mainstream!
People love the thought of providing for themselves, and maybe even turning into social media stars and celebrities. But, 99% of everyone quickly understand that they can post daily without earning a dime. They can post videos, write articles, and post photos, and even though they get 10 retweets and 100 likes, and 15 comments, that is it. These people, when they notice, see, and hear about a platform like Steem at which they can actually earn money doing those exact activities, they will for sure turn over to it and give it a try.
Once again, they don't care about whether it is called blockchain, crypto, or something else. All they want is for it to work and to be profitable.
What will cryptos look like in the future?
I haven't given a definite answer to the question in this article, but I have tried to share my thoughts on the subject no matter what. I do believe the blockchain technology and the cryptocurrencies will get stronger and stronger in the coming years. How fast it will spread and how quickly people will adapt will depend on the usecases coming for the different cryptocurrencies!
But, if I include the fact that PayPal just released information about implementing Ethereum, Bitcoin, Litecoin, and Bitcoin Cash as payment options on their platform from sometime in 2021, it is a clear sign that cryptocurrencies are here to stay! And when people see the Bitcoin logo within PayPal, and also get the chance to combine a bank account and a crypto account with the upcoming Kraken bank in the United States, then we can clearly see a picture portraying cryptocurrencies as something entirely normal. It will no longer be only the "freaks" dealing with this strange money, but it will be something everyone do, and that is easily reachable for everyone and anyone!
It is just to get on the train, because the ride has started, and the speed is increasing!
This article is a part of the fantastic #SteemCryptoChallenge initative here on Steemit. Make sure to check it out, there are lots of fantastic articles posted every single day dealing with cryptocurrency related topics!