What We Need For Mainstream Adoption and Can We Except It?

I`ve been pondering for some time how does crypto need to adapt and mature for mainstream adoption.

This has led me to wonder, can us converted coiners accept the changes that are likely to flow from driving further adoption, with the potential dilution of cryptos decentralised nature and anonymity of the defi space.

Factors that could drive mainstream adoption and potential repercussions

Lets start with the obvious ones

Spot EFT approvals and the entry of traditional financial planners, think Blackrock, Investment Funds and banks. This could open the door for capital from large institutional players, investment and pension funds, as well as offering ease of entry for retail investors looking to diversify their portfolio and gain exposure to digital asserts. Potential downsides include increased market share and centralisation to the old traditional financial markets.

Increased adoption via integration with trusted multinational companies. Numerous global companies have begun developing and working with crypto and blockchains think Mastercard, Visa, PayPal, ANZ Bank, Deutsche Telecom and the UNHCR are using crypto to distribute to some refugees. Blockchain user case could quickly increase with the mainstream not even realising that they are using trusted companies interacting on a digital network.

Regulation by leading countries, bodies or global regulation. A global regulatory framework for digital asserts may 'green light' large players to enter the market and provide more confidence for additional retail investors to become involved. This may allow wider on and off ramp fiat access. Regulation could stifle innovation, reduce decentralisation and increase market share for the old world traditional financial players.

Stablecoins that are actually stable! For me this will be a big driver, the international remittance market for personal as well as business markets is a huge opportunity with the potential for lower fees and faster transactions times.

Less Scammers and Hacks. This is all the mainstream hear, scammers, hacks, malware infecting a computer, bitcoin lost on computer hard drives in tips, North Korea, Russia and Mark Cuban losing 800k!

Simplified custody options. One of the foundation of crypto was and is its self custody nature and need to take personal responsibility for this. A by product of this is it can be difficult to navigate and people are bombarded with stories of crypto being lost through lost keys etc or scammer.

Better User Experience. Seriously who thinks using a dex for the first time has good UX. There`s no manual and working out you need additional gas fees in another coin to purchase that shitcoin is no easy feat.

KYC adoption. Contentious I know, I`m not advocating but I can`t see how KYC provisions don`t increase as mainstream adoption rises, I can`t see traditional market players entering the space without it. Improved KYC could bring an improved reputation to crypto that we`re not all drug dealers, money launderers or tax evader!

Ethereum Gas Fees and Fees. Crypto is improving on the old financial system, high gas fees aren`t an improvement!

Reduced Price Volatility. This is a hard one because I personally love the insane volatility crypto can bring, it does however keep many people away and render cryptocurrency unworkable as a trusted every day payment option.

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What have I missed, is this likely to be the pathway forward, can you accept it or are we losing our pathway and vision of a new world decentralised financial system?

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