How the Crypto and Blockchain Adoption will Shape up in 2020?
Since Bitcoin came into existence there have been several narratives going around, but it has changed over the years. Initially, cryptocurrency was considered pure, digital cash but now many are comparing Bitcoin as digital gold. Many claims that Bitcoin’s borderless, fungible and non-inflationary nature makes it a modern-day precious metal. Some investors have even gone on the extent of naming Bitcoin the next global reserve asset. Reality is the crypto market is still new, in spite of fundamental developments its too early to give such titles.
Potential to change the trend
Over the years it has become clear that crypto and Blockchain technology has the potential to change the global financial system and other sectors. Crypto potential is yet to be acknowledged; though a section has started praising this new innovation mass realization will take some more time. Many forward-thinkers have already started throwing themselves to the crypto ecosystem; the mass adoption to buy and sell cryptocurrency in Australia is a trend now. Almost all prominent crypto investors expect more adoption in the coming months.
The prediction of the crypto ecosystem for the future is always going on. Most prominent crypto investors are hesitant to give clear predictions but they believe the number of crypto and Blockchain themed projects will increase in the coming days. The year 2020 will see the new adoption rate of cryptocurrencies and Blockchain, some of the high profile crypto projects or products will start attracting common masses from both the retail and institutional realm. Many open-source ventures are being built around popular cryptocurrencies that will facilitate the lives of common people.
We are only a month into 2020; the crypto industry has already started getting a taste of acceptance. Overstock, a popular online retailer that has been accepting cryptocurrencies for a long time now began paying portions of state taxes through cryptocurrencies. Although the treasurer converts the crypto tax payment to fiat currency immediately, such adoption is highly appreciated. Experts believe as popular business names enter the ecosystem and make crypto or Blockchain collaborations, adoption among common mass will see a massive rise. So, maybe 2020 will be the year where crypto adoption will reach new heights.
Popular gaming portals and gambling sites have started accepting cryptocurrencies for their services. Epic Games, one of the popular and renowned video gaming companies, has started accepting Monero. That is one reason why developers are seeing the huge potential with decentralized technologies; hence the trend of investing in the Bitcoin trading platform in Australia will only increase.
Awareness is the key
However, the only major barrier to mass crypto adoption is lack of awareness. Even today a good section of the global population is unaware of cryptocurrency and Blockchain technology. It was the internet revolution that changed the world in the early ’90s and now it’s the Blockchain revolution that will transform businesses in this 21st century. Many Blockchain centric projects have huge potential but its adoption will suffer because of proper awareness. As Crypto and Blockchain awareness has peaked recently, it will also speed up the adoption rate.
Many consumers are aware of the term ‘Bitcoin’ but a majority of them fail to understand its underlying idea and purpose. It’s with proper education and awareness that the fundamentals and value of this new technology will be learned. Prominent crypto investors agree to the fact that education should be the top agenda in 2020. As innovative crypto products are soon going to churn out, crypto education will help the sector flourish.
The competition in the crypto ecosystem is heating up every day, new projects and collaborations will lineup a series of products and services in a few months’ time. Despite the bear market, the crypto adoption rate will see a huge increase this year. So don’t be surprised if you see new crypto and Blockchain projects are getting massive support from common people by 2020 end. So this is the change that every crypto enthusiast has been longing for, now its slowly turning to reality.
Crypto trading platforms like AusFinex is also playing an important role in promoting digital currency use and adoption. Instant buying, high security, numerous payment options, and 24×7 support will only enhance your crypto trading experience. So give it a try and explore all the new opportunities that cryptocurrencies are offering!