For mass adoption of crypto to become a reality, a greater trust will have to be built among average consumers. Ironing out protective regulation is a big step forward, as is the advent of more consistently stable forms of crypto like stablecoins. The technology underlying crypto can also be built upon and improved to establish greater security for users. But everyone is on the hunt for the next killer app — the lightning strike that will onboard everyday consumers and makes crypto a necessary tool available to everyone.
No one knows yet what this killer app might look like exactly, but the idea is to offer solutions to some of the roadblocks faced by crypto in one go, similar to how email made the World Wide Web useable and accessible to everyone, leading to millions of more end users.
Entrepreneurs are looking for this ultimate solution to the mass adoption issue in one area in particular. They hope to develop a killer app that will effectively bridge the gap between blockchain and traditional technology, offering accessibility and value for average consumers who have been skeptical of crypto up to this point.
One pain point in particular that a killer app would have to solve is the fact that there aren’t many ways for people to use cryptoassets at the moment. You can’t buy groceries or even shop online very easily with them the way you can with Visa, Mastercard or PayPal. Poor usability has so far kept many out of the crypto game.
But what has a lot of people excited is that the next killer app may have nothing to do with finance. It could even be a game. Think about it. Look at games like Candy Crush a couple of years ago, or Fortnite even more recently. These phenomenon brought millions upon millions of users onto their platforms. For blockchain and crypto, a catchy title on the EOS network could do the trick.
In fact, let’s think even broader. Users of the next killer app may not even recognize that they are a part of the blockchain revolution. Do you know how email works? Probably not. The next killer app might use blockchain and even an internal crypto ecosystem without most users being aware. That’s a comforting thought, as it leaves the door wide open for an array of possibilities. What matters most is what interests people and what will make cryptoassets a part of their everyday lives.
So let’s start thinking big. Ethereum with the big app of 2017, giving an entirely new context of usability to crypto. But it wasn’t enough. The blockchain industry continues to grow, but when will it explode? What apps do you see in the works that have the potential to bring millions onto the blockchain?