November 6, 2019 – Cryptocurrency advocate Brock Pierce said in an interview that while digital tokens have “made the world a better place”, it will take some time before mass adoption begins, just like how Internet required time before being used by the masses.
Brock Pierce also said that once the underlying infrastructure is in place, a billion users could be onboarded in 12 months. However, right now, the crypto infrastructure is not sufficient to shoulder everyone, plus it is not “simple enough, secure enough.” If possible, it should be 10 times better or atleast it was built for something that wasn’t there before.
Pierce cited Venezuela, where the cryptocurrency system is better than the one for the Venezuelan Bolivar. “This is also why Kenya is the most advanced payment market in the world, because they did not have anything else.”
Lastly, Pierce said the future of blockchain technology will depend on the quality of people who work on it and their intentions on building it.
How to learn blockchain? Brock Pierce suggested using readily available cryptocurrencies and the wallet that comes with them to help in understanding technology. He said that with its usage, a useful understanding will follow. This will eliminate the intimidation it creates to the end-user who wants to make life a little easier just like when using a smartphone.
Pierce also previously said that the Philippines will benefit from this new technology, citing the large remittance the country receives every year.
He also said online gamers have contributed to the adoption of cryptocurrency. He said in an interview with newspaper Inquirer:
“Part of the reason why you have a lot of activity in the Philippines is because you have a lot of online gamers. You will notice that every major market in the world was largely driven by online gamers. That was wave 1. Wave 2 was financial speculators, finance people. Wave 3 is financial inclusion, I think,” – Mr. Brock Pierce, Blockchain enthusiast and advocate
Brock Pierce was a member of the Bitcoin Foundation and currently a Board Member of the EOS Alliance.
This article is published on BitPinas: Brock Pierce: Cryptocurrencies Will Take Time Before Mass Acceptance