How can Bitcoin find a place with the masses?
Bitcoin has a difficult reputation with consumers. Initially it was all about drugs and illegal activities, now it’s all about people getting hacked, cheated or just losing money through unpredictable price fluctuations. You folks in the payments industry also give it a hard time, dismissing it as just a fad or something not worth thinking about due to its shunning of current infrastructure and paradigms.
But, in reality, Bitcoin and its blockchain friends all provide an exciting new avenue for payment technologies. To ignore them is to do so at your own detriment, but before it can become the payment powerhouse for the modern age, some things need to be overcome.
The below infographic takes a look at the key challenges up against Bitcoin growth and adoption, and provides a snapshot for those who don’t want to delve deeper just yet.