Adoption Friday: Hottest Blockchain News of the Week
Hey everyone,
Welcome back to Adoption Friday with adoption news from around the world. In this week’s batch:
🇺🇸 Coinbase focuses on user-friendly crypto
🌎 Prediction: 1 billion crypto holders by 2026
🌏 Asia & Africa lead in crypto startups
Coinbase’s senior director of engineering, Chintan Turakhia, believes that making cryptocurrency more accessible and user-friendly is crucial for mass adoption. He highlighted the current friction points in the onboarding process, such as setting up wallets, transaction fees, and acquiring blockchain-native tokens. To address these issues, Coinbase launched a smart wallet with beginner-friendly features, including easier sign-in options and sponsored gas fees. Turakhia emphasized the importance of consumer apps with daily usage potential as the pathway to mass adoption.
Our take:
Mass adoption of cryptocurrency hinges on making it user-friendly and easily accessible. Coinbase’s efforts to simplify the onboarding process aligns perfectly with our mission to create inclusive and accessible blockchain solutions.
Read more here.
The CEO of Lunu, Pavlo Denysiuk, predicts that the number of cryptocurrency holders could triple by 2026, reaching one billion users. Currently, there are approximately 560 million crypto holders, making up around 6.8% of the world’s population. Denysiuk believes that crypto payment adoption will increase once mainstream companies like Starbucks start offering the necessary infrastructure. He also emphasizes the importance of stablecoins in facilitating mass adoption of cryptocurrencies. However, the biggest challenge remains creating user-friendly applications to attract more beginner users.
Our take:
We share the belief that mainstream adoption depends on building stable, user-friendly applications and infrastructure. Tripling crypto holders by 2026 is both exciting and a challenging goal.
Read more here.
The share of cryptocurrency startups in Asia and Africa in the first half of 2024 surpassed the United States and Canada. This shift is attributed to regulatory uncertainties in the US and increased adoption of digital assets in emerging markets. The blockchain startup accelerator, Alliance, reported that Europe took the lead in new cryptocurrency startups with a 31.4% share, followed by Asia at 26.8%. Africa also saw an increase to 5.2%, while Oceania had only 1.8% of the total crypto startups. The data was gathered from 3,000 annual applications for the startup accelerator program.
Our take:
Seeing more crypto startups pop up in Asia and Africa is awesome and shows how these regions are becoming powerhouses in the crypto scene. We love this trend because it means more innovation and diversity. We believe that clear regulations and support for startups everywhere help the whole crypto community grow.
Read more here.
And that’s it! What do you think about this week’s adoption news? Let us know in the comments!
