Blockfyre.com is a great website for you to research on coins you might invest into. They do deep research on altcoins if they are worth their salt and how they might compete in the future. Definitely check that out, if you want to make money!
I’ve asked him to do a guest blog post on my blog since I value his insight very much! And he gladly did it, so here is his article:
If you are frequently visiting crypto related forums on Twitter or Reddit, you will have noticed that one major point for optimism amongst people in the space is the myth of a coming mass adoption of blockchain technology and cryptocurrencies. What people tend to forget is that this mass adoption requires a lot of work and won’t just happen overnight. Just because you care about decentralization, and just because you believe in crypto, doesn’t mean, that the general public will be interested in that as well. People who are relentlessly sharing their data all over the internet are mostly looking for convenience and/or cheap prices for the goods and services they are consuming. Crypto is too hard for them to understand and use, they stick with centralized, data-grabbing solutions, that are simple. Aspects like privacy and security don’t matter that much.
Regular people want something easy to use, and to get them to change their habits, it will most probably even have to be easier to use than what they have now. Services like Google Pay, PayPal, and ApplePay, set the standard of modern financial services. Running a node and being able to verify the blockchain on their smartphone generally is not something that people have on their list of things they want to do. So the game plan for the crypto killer app is clear: Build something that is easier to use than the current services, while still providing all the advantages of blockchain. Easy huh?
Sadly, it’s not that easy, but it’s inevitable if we want this tech to succeed. Mass adoption comes with the user experience. The way you get people to use your tech is to make it easy to use. You start with your customer in mind, not with the tech. Also, this is the main reason why crypto has such a hard time capturing new groups of users.
Another significant aspect is security. It’s not easy to store crypto in a safe and sovereign way. If you are storing hundreds or thousands of dollars of crypto on exchanges, you’re putting yourself at risk. Your account could get hacked, the exchange could get hacked, all the things that really hurt but can be avoided by simply using a hardware wallet for example. Again, the concept is clear to people who spend some time researching and reading about this stuff. For someone coming from a world of online banking and PayPal though, this might seem very strange. Even more concerning, if there is no way of recovering your password or being able to call the customer support, people will have a hard time using crypto. Fixing this gap will be a big challenge for projects in the space, but it will eventually decide about who is winning and who is loosing.
I don’t know which project will hit the mainstream first. My bet is on one of the following industries, but don’t take my word for it: 1. Payment Solutions/Financial Services, 2. Gaming/Gambling, 3. Marketing/Loyalty Programs. This is just my current perception, it could happen in a whole other industry that no one really thought about before. What I know for sure is, if a project focuses on tech and not people, it will stay in the founder’s parents garage. First and foremost, all tech, all design, all crypto, should be about people. When you care about people, people will care about you.