Since the establishment of the Bitcoin back around ten years ago, many things were said in respect of this breakthrough. Bitcoin has turned to be trendier and trendier, up to reaching the current level of popularity. In a previous article we raised and debate the question: Will cryptocurrencies be widely accepted? We answered to that debate by a long term view upon Bitcoin acceptance.
In this very article I wanted alternatively to discuss whether or not a Bitcoin economy is possible in 2019, taking into account the current social and financial landscapes we are facing on a daily basis.
One of the most important obstructions to a cryptocurrencies economy would be the narrow knowledge that people possessed upon Bitcoin. This knowledge is even more limited to a short number of people incorporating the educated urban elites.
The further we hazard ourselves in the remote and rural areas, we find out people don’t even know about the inception of cryptocurrencies and what they are made for. Then it is completely normal that these persons have no idea what Bitcoin is, as their daily concerns are mostly related to day to day tasks. Taking into account this appalling condition, the immediate necessity is to teach people at the very basic level, about topics such as a digital economy based on cryptocurrencies.
Moving back to the cities’ people, only few among the elites have abilities with technology and are up to date with regard to the financial markets, de facto keep on line with the crypto news, others are beatifically ignorant. To the majority, Bitcoin keep showing up as a pyramid scheme in which someone may become a millionaire within the night.
Because of these restraints, it is difficult to imagine or even think about having a cryptocurrencies economy in 2019. There is still a long road before the Bitcoin gets considered as a day to day idea. If we want the economy to accept the digital value as it is, we need the people to be taught about it.
The endeavor of teaching and popularize the idea of clear, exploitation-free and online financial system has to be set in motion, so that in the coming days, we could wish to deal with Bitcoin on our daily lives.
Editor of IMD News