The Bottleneck Attached To Blockchain Adoption

Hello! Friends,

Good Day!
Adoption! Adoption!! Adoption!!! This word is majorly used on crypto space following its importance and many people are very sick of hearing this statement not because of what is attached but it seems like people are not embracing what they are actually presenting.

_{Pixabay: Crypto Adoption}

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If you check almost all projects the main purpose of its introduction follows adoption in crypto space. The way we are using this word on every project make it seems like the word is losing its meaning and value just because there are many ICOs that failed, many projects that attracted millions of people when down and people lost interest in crypto investment. The value of adoption becomes meaningless to many when most projects they get themselves to find it harder to deliver on the promised adoption of their coins. I know you are counting those projects now!

Well, in this short piece I will share with you some difficulties adoption of cryptocurrencies faced and also the importance of overcoming such difficulties.

Let me start with why do we need to consider adoption?

The first thing we need to know is that, if you have any consumer-based business or technology and is not accessible to people it is useless. The technology needs to be easy and comfortable for use. Take, for example, a smartphone that is unease to be accessed is useless and lose its market price and value. You are rendering service and is hard to reach consider it a failure. If a technology is not readily available for a user, it only takes ratio 1 to 10 of such user to go out of his or her way searching for such technology. All this brought us to the importance of accessibility of technology to a consumer. This is a driving force or factors behind the success or failure of a business or technology. Adoption Is A Major Challenge In Any Business

Let's have a look at benefit adoption provides then I will talk about the difficulties and solution

• Finance is the first benefit when it comes to adoption. When you consider demand and supply you have the understanding of the more demand will bring about an increase in the price of the product. The more people need your product the better for that product because it will increase its value. When you consider all the token we have this day, they are all utility token meaning without using the token for something no value. The usage is what increase its value. Here, adoption of the token is the key to increase of usage and it will definitely affect the value. This is what we called Moon Mission.

• The more a project is known, the more the technology behind such project is known. The moment a project is been adopted by the public, don't forget we are considering blockchain technology, it will put mainly the whole technology under the spotlight just because one project is been adopted as a result of problem it will solve. The more new project come into being, the more the awareness of such technology increase. Remember when the internet came into being, many don't know the importance and this is what is happening to blockchain technology today. Many don't know the importance now but in future it will be something to talk about, all this is still tailored down to adoption. Technology Awareness Another Benefit.

Let's Consider The Difficulties And Solutions

• Not All Project Required Blockchain

Everyone is diverting their attention to blockchain technology even project that will naturally succeed if not on blockchain want to upgrade to the technology without prior understanding of the system and thereby creating unwanted bottlenecks which can easily be avoided if the technology isn't used. After some months, the project is abandoned and not useful to the average consumer and this makes it very difficult for more user to adopt such a project. I will say unless under compulsion and necessary to use blockchain technology for the success of your project don't use it.

• Many projects are not accessible to consumers and the more it is accessible the more adoption the project or product get. When consumers are unable to get a product in a market it will be very difficult for such a product to make it through. Adoption happens when accessibility is easy.

When you look at this as a problem, it means that creating a decentralized app that will be easily available for the consumer, easy to understand and useful user interface that will attract users is one of the keys to the adoption of a product.

In conclusion, the major problem we faced in crypto space is adoption and the solution still lies in the hands of project owners. The product you released, the team you build, and the way you communicate to your early adopter go a long way to tell the future of your project. Be careful and be smart.

Thank you.