Read this post even if you don’t know anything about crypto. Trust me by the end of it, you’ll have enough pointers to “discuss crypto & look cool” in the next party you attend. So, read on.
There’s always been this question looming “Can cryptocurrencies have a widespread adoption?”. Just the thought of that makes some people go like this in seconds,
A big driver of this thought process has been ignorance where cryptocurrencies are only linked to bitcoin.
Most new technologies see pioneers, adopters, and skeptics (that’s the guy in the image above). The telephone had it, the internet had it and blockchain has it.
Here’s what’s happened very recently. All of this has happened over the last few weeks,
- Tesla (which is an electric vehicle manufacturer owned by Elon Musk) announced that it added $1.5 billion in Bitcoin to its balance sheet recently. In a statement, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash”.
- Multinational financial institutions and services including Mastercard and Bank of New York Mellon have taken steps to make it easier for customers to use cryptocurrencies.
- The Dubai Government has announced its free trade zone (called KIKKLAB) will now accept Bitcoin and cryptocurrencies as a payment option for trade licences and visa fees.
So what do you think? Are we finally there? Is this the beginning of widespread crypto adoption across the world?