HOW A CRYPTO PHYSICAL BANK COULD HELP IN MASS ADOPTION?

We all know that Cryptocurrencies rely on Network effect at a significant point of time. If you don’t believe it, check Bitcoin, being the first of its kind and widely adopted by it’s believers, It's slowly increasing its network and in the long run for sure, will have a much significant value than today.

But still cryptocurrency users vs Centralized users are quite low to even ignore at this point of time. Obviously, it’s market cap is growing quite huge and we can’t ignore it. But when you think at a large scale, you must realize there is plenty of scope to grow, I will tell it a massive scope.

BUT WHAT’S STOPPING CRYPTO MASS ADOPTION? WHY NORMAL PEOPLE ARE STILL SO RELUCTANT?

It's quite wrong if we say normal users or crypto newbies don’t have any interest in this field. Various market research conducted by several institutions have proved that already. But there is an underlying problem that has never been addressed.

DO YOU THINK WHEN WE CAME UP WITH THE INTERNET REVOLUTION HAD STARTED IN FINANCIAL SECTOR (NET BANKING, MOBILE BANKING), ALL PEOPLE KNEW HOW TO USE IT?

NO, But there was a big difference. They had a point-of-contact, they had proper customer support, bank executives to support them. Even if they have further issues, they can go to bank and clear it out. When a new technology comes to rule, there is an issue with 'Fraud' where physical institutions work great to protect them by providing necessary information.

AT THE END, NORMAL PEOPLE BELIEVE WHAT THEY SEE…….

A crypto physical bank could help a lot in this situation, specially to take it to the next level in developing countries, there is no alternative. We need banks who will help people to get cryptocurrency in their account, to use it as savings/ current balance.

They should be able to get loans using crypto as collateral, convert it to Stable coins and use it for payment in seconds etc.

THE MOMENT WE WILL ADDRESS THIS ISSUE, WE WILL SURELY SEE THE CRYPTO RULING THE 4TH GEN REVOLUTION. WE NEED SUPPORTS FROM VC’S, ANGEL INVESTORS TO BEGIN THIS CHANGE.

DO YOU THINK THERE IS NO FUTURE FOR ALT COINS? IS IT ONLY ABOUT BITCOIN?

Not really, have you ever seen we use Gold for regular payments? Or use the US Dollar to pay regularly at Indian shopping stores? I guess you already have your answer.

BEING THE FIRST AND HARD TO MINE, BITCOIN WILL ALWAYS REMAIN AS THE DIGITAL GOLD AND THE PRICE WILL GO HIGHER AND HIGHER AS WE ARE AT A SUPER DISTANCE TO REACH THE SATURATION POINT.

Whereas the alt coins will remain there as payment solutions (also remember,we consider silver, diamonds as precious investment as well) but think of it with a smart prospective. As described earlier, you don’t use one currency at all countries, The same crypto will not be used for all sectors. Some crypto can be widely used for shopping, whereas some crypto will be used for app payments etc etc. depending on the problems they solve. And definitely we have to build the interoperability that will help us to reach the smart revolution.

IT'S NOT GOING TO HAPPEN IT ONE DAY BUT WITH TIME.

WHAT’S THE MAIN PURPOSE OF THESE CRYPTO BANKS?

Obviously to interact and to let people learn how to use it. The banks who will get the momentum first, will rule the next gen banking.

WHICH ALT COINS WILL RULE IN THIS 4TH GEN REVOLUTION?

The projects succeed with its problem solving ability. We shouldn’t search for a problem but to identify it. The projects who will identify the right problems, are definitely going to co-exist with Bitcoin. But there will be competitions and healthy competitions are always good.

NOTE: WHAT DO YOU THINK? PLEASE LET ME KNOW IN THE COMMENT SECTION. THANK YOU.