Crypto-assets are setting down deep roots, and blockchain is now known to be a viable technological solution. Be that as it may, mass-adoption isn’t ready… yet. What might be the path to it?
From today’s context
With the most recent surge in interest for crypto-assets at the end of 2017, the crypto-winter has denoted this period as the most epic surge and the most epic crash.
However, the term “bitcoin” begins to rise up again in Google trends and several stores now accept Bitcoin as a payment method.
Most importantly, we can see that the countries most interested in this research are countries that see Bitcoin as a potential solution for a noteworthy issue: the steadiness of their state money. For instance, Ghana or South Africa, for which Bitcoin shows up as an alternative means of payment to the state currency. There are additionally Argentina or Venezuela — with an unsteady monetary environment — prefer to turn to solutions not controlled by the government.
Moreover, most countries today have begun to create guidelines and regulations around crypto-assets. The field (crypto-assets or blockchain) and especially companies are regulated and the governments are considering a better legal support of these technologies. A wide range of instruments have been made accessible, notably to allow people to disclose the crypto-assets they own and eventually the resulting income stream.
Traditional companies entering the crypto game
From service companies to payment system providers, or even social networks, it is now a fact: everyone is entering the crypto game!
Facebook has announced Libra, its own “stable” cryptocurrency which will be available, at first, on all their platform such as Facebook, Whatsapp or Instagram and their 2 billion users worldwide.
This Facebook’s project is a sign of the upcoming global crypto adoption: it’ll be easy to buy, send and transfer crypto-assets. Facebook plays enormous here as Libra could be utilized by billions of users.
Note: The debate is still raging regarding the decentralized nature of Libra and does not fit in the topic of this article :)
On their end, Paypal and Coinbase have formed a partnership to allow Coinbase users to instantly withdraw to their Paypal account or buy crypto-assets through their Paypal account. It’s the speed of the withdrawal that is impressive in this partnership! And Paypal is also a consortium member of Facebook’s Libra.
In addition, lots of companies such as VISA, Mastercard, Iliad, Uber, Spotify, eBay… get into the blockchain world through their Libra sponsorship.
Will these companies succeed in engaging users and making them discover the world of crypto-assets simply and efficiently? Because we also have 100% crypto projects that have the same objectives.
Alongside crypto Behemoths
Changpeng Zhao (CZ), CEO of Binance, has launched with his team several exchanges in specific regions (e.g: Uganda or South Africa) and foundation for charity (school lunch in Africa, disaster victims or Notre-Dame in Paris).
This approach is not a coincidence: these regions need a reliable monetary framework and an efficient, accessible and open payment system. Binance is paving the way for the use of crypto-assets in these countries and enabling users to use these technologies easily.
Binance is an Asian exchange, but America also has its oustanding crypto platform: Coinbase. Their major strength unquestionably relies in its easy to use interface. They have been at the base of major crypto-adoption by allowing user to purchase and sell crypto-assets in an extremely simple fashion.
Moreover, they have launched Coinbase Earn which is a platform to acquire knowledge about crypto-assets and blockchain technologies. They basically pay people to educate themselves. Pretty neat!
Beside Binance and Coinbase, an exchange has been in place for a longer period of time: Kraken. It’s one of the “old” exchanges which was established in 2011. It has been refreshed a few times during its existence and nowadays, they want to push adoption by making a progressively straightforward UI.
Their last update brings portfolio viewer with charts, insights… they’ve streamlined the procedure to purchase crypto-assets. Today, Kraken is very convenient to use even if they offer much more advanced options than Coinbase.
Bye-bye exchanges, let’s secure the blockchain with Bitmain! Bitmain is the largest company that manufactures ASIC chips (application-specific integrated circuit) for bitcoin mining. Its founder, Jihan Wu wanted to offer turnkey mining machines for the public.
In their strategy, Bitmain develops new mining machines, uses them in their mining farm and then, sells them to the market. Any end-user just need to connect to electricity and start mining.
Bitmain offers the possibility for anyone to secure the blockchain and possibly generate revenue by mining bitcoin or other crypto-assets.
All these different companies have the objective of making crypto-assets accessible and easy to use. But they are already big players in their respective fields, and other smaller projects want to make life easier for users regarding crypto-assets and engage them in the crypto-world using different approaches.
Some adoption-oriented projects to look at
After the 2017’s furor time frame encompassing ICOs, the crypto ecosystem required a brief period to tidy up. Since then, a lot of projects have been shutdown a large portion of the staying ones are presently in the period of developing their client/customer base. This growth eventually require to go beyond the crypto-sphere and reach the masses to be sustainable.
We’ve built up a little list of projects we believe can help the ecosystem to thrive and grow to a broad audience — including our very own project ;)
Kryll’s objective is to encourage and facilitate crypto-assets trading. Thanks to a very simple drag-n-drop interface, any user will be able to create its own strategies or to buy one on their marketplace. For any new comer who needs to exchange and play with crypto-assets without explicit trading learning, Kryll is the arrangement.
Their UI is clean and efficient. Any user has access to all the power of their platform from just some clicks on buttons.
Geon Network is an app with which clients can get remunerates by visiting areas. With a truly cool design and a great user journey, a novice user can get Geon coins just by going in specific locations.
It benefits for stores or boutiques to acquire new customers and for the users, Geon coins can be exchanged for Paypal cash transfers, Steam gift cards or prizes.
Geon Network allows anyone to get tokens for free and then exchange them or transfer them to a personal crypto wallet.
Electroneum offers a targeted mobile application for unbanked users. Their app has an integrated miner for their own coin: ETN. With this miner, any user is able to mine ETN and use them.
Today, they have more than 3 million users and they are really part of a mass adoption process. Their mobile app offers instant payments and for all unbanked users, Electroneum appears as a simple and fast solution to set up.
Electroneum wants to improve the lives of millions of people in developing countries, and their quest for adoption is already well underway.
Last but not least… Surprise!
Surprise is our cashback application that works with crypto-assets and blockchain technologies. It’s a hazard free first approach to deal with crypto-assets for whom intrigued (or not) with a clean and efficient UX & UI.
Surprise first goal is to put crypto-assets in everybody’s hands. By doing their shopping online, users will get compensated in Surprise Points and these points can be exchanged to cash or other crypto-assets.
Surprise use the blockchain technology to facilitate all monetary flow and they reward their users with tokens, with which users can play, learn and test.
The best way to adoption is through understanding
To finish up this Medium post, I might want to include a reference from Chris Burniske, who formerly led ARK.
He said that “earning crypto is more valuable than making crypto accessible” because “when people earn something they develop a deeper relationship with the reward”.
This is why projects like Surprise, Vibe or Die, Insights.network or Electroneum are projects to keep an eye on, they give their users crypto-assets and so, users are able to try these technologies. It’s the best way of learning.
Finally, the road to adoption will be long and not necessarily easy, but many actors agree on a common objective and mass adoption will one day be there.
You know everything about these Surprise points and what we want them to become. We hope that this article enlightens their utility and their scope! You can now download Surprise and begin to earn Surprise points! 🚀