Crypto adoption may not be hindered by failing infrastructures

[Sotherefore]

We shouldn't just expect every countries to adopt cryptocurrency as a payment method, this is so unofficial because cryptocurrency is a volatile assets and may not be suitable for official transaction since it doesn't have a record of whatever transaction that is happening in the blockchain technology.

 

[Kaffyfolla]

A vast digital ecosystem of entrepreneurship and exchange has sprung up with Bitcoin’s digital infrastructure at its core. We explore the worldwide spread of infrastructure necessary to maintain and grow Bitcoin as a system (Bitcoin nodes) and infrastructure enabling the use of bitcoins for everyday economic transactions (Bitcoin merchants). Specifically, we investigate the role of legal, criminal, financial, and social determinants of the adoption of Bitcoin infrastructure. We offer some support for the view that the adoption of cryptocurrency infrastructure is driven by perceived failings of traditional financial systems

 

[HayKay]

I agree as well that the right infrastructure and probably network isn't very developed that would ensure the widespread adoption.
Also a lot of people don't have the proper education of the workings of the crpyto system.

 

[greenie]

This is a very interesting article and I think you made a good point. I always thought it is going to take a while before bitcoin is formally adopted as a mode of exchange worldwide. It is going to take a few more decades before it happens because of the poor countries.

 

[Grandeur]

I share your views too but before we can say that nation should improve their infrastructure before adopting crypto, the nation's that have infrastructure, what's keeping them from adopting

 

[eLdavis]

You are right, it makes no sense to adopt crypto currency in an areas where they hardly have access to the internet, it's like you giving fish to someone who eats only meat, it becomes useless to them.

 

[Sincerem]

That's very true, but providing infrastructures for crypto currency adoption will be cheaper than the present system of payment, I say this because of the following;

1. Private companies can set up internet infrastructures when given the chance by government to do so.

2. Crypto currency payment system can be handled anywhere by any individual with going to a banking hall, so government or countries do need to bother about building banking halls.

3. Crypto currency payment system don't need much control or government involvement to work properly.

The only thing preventing crypto currency use is the unwillingness by the different governments.

A decent review I must say, but we shouldn't only look at the current nature of the crypto currency but also analyze it prospects in terms of government involvement , without regulations the crypto currency is seeing a massive growth, wouldn't government involvement change its current nature and thus affect it's prospects?

 

[Syldan]

Well, sometimes it depends on the perception of the government and how they sees the movement and the rapid growth of the use of crypto. Sometimes infrastructure may affect the adoption of cryptocurrency.