Growing, But Still Not Quite There
There have been waves of efforts made to spread the knowledge and benefits of blockchains and cryptocurrency in today’s society, but from my own anecdotal experiences, it’s still not quite reaching a majority of the population beyond the hype of BitCoin, and a get-rich-quick scheme. This is coming from someone who was on that boat just a little over a month ago. I was completely skeptical about cryptocurrency, only knowing what BitCoin was and barely Etherium.
A Conversation with my Brother
Just this past weekend, I tried testing my knowledge and application skills to my brother, as he had a very pessimistic outlook on the future of cryptocurrency. During our 4th of July BBQ, we had a serious conversation about the state of cryptocurrency over some nice steak, sausages, beer, and sake. He insisted that cryptocurrency, if anything, would be at its peak currently, and would only go down in price from here on out. He predicts that the government would regulate all cryptocurrencies and throw them into the stock market, similar to NASDAQ, where the top 50 cryptocurrencies would be condensed into one stock share.
From my experiences thus far, I’ve run into acquaintances and friends that can be separated into more or less two categories. The first category would be individuals that have a base knowledge on what the key terms are, such as cryptocurrency, and blockchain. These individuals would develop a strong opinion based on the knowledge that they have, but they would missing the full picture to the capabilities of the blockchain technology, thus becoming a crypto-skeptic. The other category are the ones that only know BitCoin, but not blockchains, or even the other cryptocurrencies. Both categories need to understand the decentralized system of a blockchain is very beneficial for online media platforms, where there is full transparency, and none of the guidelines or constraints are decided by a higher parent structure that would exist in a centralized structure.
Based on these experiences, I can say there are one or two that have been swayed from my explanations on the blockchain, and I have high hopes for the continued exposure that blockchains and cryptocurrency are getting every day. To combat this stigma, one must be concise, but not leave out the important details of the blockchain, and even something as simple as trying to explain cryptocurrencies without mentioning BitCoin at all. One can even bring up the comparison of Proof of Work vs. Proof of Stake to show the differences on how some people mine for these cryptocurrencies.