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RE: How Do We Get the World to Adopt Cryptocurrency And Why it is Imperative We Do?

in #steemit7 years ago

Good points, love the Elon reference! You write about connecting more to the internet, what we want to add is once we have more widespread internet adoption, in order for mass adoption into cryptocurrency it is vital that the barriers to enter goes down. Currently the learning curve is too steep for the average person to get into crypto. You have to learn about private keys, public keys and what not. For the non-technical person, cryptocurrency and blockchain doesn't feel like a step forward. Sending and receiving money is still expensive, takes too long and is complicated to initiate in the first place. This is exactly what Blockbasis tries to solve, as we allow our users to send and receive cryptocurrency via email. No more public or private keys, send or receive your Bitcoins, Ethers, Litecoins or 20 other cryptocurrencies via email with Blockbasis.

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@blockbasis Yeah, I have worked on a couple of projects with varying solutions. One developer had proposed a username, which is similar to an email.

The issue with your platform is that you become a central entity, which is what many are trying to move away from in the space. People want to be able to possess their own money without a third party keeping the ledger (so to speak).

So, if you really want to make strides as a company, then I would recommend finding a solution that does not cause the user to entrust their funds within your platform (cold storage). One way would be assigning the email to a specific address similar to a login to any normal site. Each address has its own place in the database, which is assigned to the email. The password could then be attached to the private key.

You could keep it decentralized by using a network instead of central servers. This may help with security and hacking.

Obviously, it will be more complex than what I stated, but I could see it being more successful as a decentralized concept.