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Crypto Adoption Problems

What needs to be addressed reach critical mass for adoption? Where is that not a good idea?

What the fuck can you do with it?

Public Relations​

Crypto bros misrepresent the efforts of hard working and talented engineers.

Business Case​

  • Uncertain return on investment
  • Inability to design a valid business model
  • Lack of managerial capability to implement strategy

Need to provide business leaders with:

  1. Frameworks to develop business models
  2. Strategies required to capture value
  3. Metrics to quantify success

User Experience​

Problems with Web3 UX

  • Key management: Since the only way to access the funds is by knowing the private key, managing how to store the key and who has access to it can pose a difficult and stressful challenge.
  • Reliance on ECDSA signatures: Simpler and quantum-resistant digital signatures are a clear improvement over the current ECDSA.
  • Transactions are tied 1 to 1 with actions: Not being able to perform more than one action at a time can incur unnecessary costs and a poor user experience.

Education​

Participants of the tech world are not strongly representative of the general population. Concepts that seem clear and obvious to them are a mystery and considered to have little importance or relevance to the majority.

As an example, Skype was seen as a killer for International Direct Dial but it took a lot of time for voice over IP to be adopted despite the clear cost savings.

The breakthrough app probably needs to be deep as OS providing high security and seamlessly connects to multi-utility bundled services without a user needing to think unless they choose too.

Search for implementation plans, choose returned plan based on risk.

Trust and Security​

Drainer Attacks​

Bad Public Relations​

Too many go long, get loud wounders.

Ponzi Scheme?​

Is this just a generational (informational) rug pull? Full of speculators?

  • If blockchain is just another property ladder what happens to those that join late?
  • If so could the next generation invent their own chain and system?
  • How much does money follow fashion? Pop culture?

Intangible Benefits​

Need to educate people into a new way of thinking.

Currently still very low utility in the real (physical) world.

One-way Decisions​

There are approval processes to transfer large amounts in traditional finance for good reasons.

No arbitration, if you game the system the exploit has no repucation.

Lack of Payment Utility​

How can you buy stuff you need to survive?

Who actually accepts ethereum

Decentralisation​

Decentralisation is yet to be solved, and is not a problem that needs to be solved? - Moxie Article

Schema​