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Author Topic: Is consumer spending the key to mass adoption?  (Read 112 times)

DikkieD

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Is consumer spending the key to mass adoption?
« on: July 13, 2018, 10:54:46 PM »
I was wondering if spending of crypto just as easily as spending fiat would be the real key to mass adoption of cryptocurrencies (and therefore blockchain underneath).

I mean. Right now it's converting fiat to crypto and then keep it at a wallet or exchange...but almost never spending it, even though it is perfect to use this way.

I read about several initiatives to get crypto introduced by those that do spend...a lot.

An example is Rewardstoken.io (from Rewards.com). They are trying to get the masses into crypto by offering an app (and website) where shoppers earn 'rewards' which in this case is a cryptocurrency that they can spend for physical items, or for other crypto and eventually fiat.

I also heard about Spotcoin.com. They are starting their own exhange with several unique features, like OTC, several fiat pairs, a huge bunch of currencies (mainly local ones originating from the Black Sea region where they'll first operate), mining services, huge dividends and more....but the best thing is that they will start with Spotpay, to integrate paying with cryptocurrencies in actual webshops and also in physical shops (brick and mortal). Check out their latest news update here.

Initiatives like these will really boost the use of cryptocurrencies...but will this lead to mass adoption or will this speed up mass adoption?

bdsharminsoltana

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Re: Is consumer spending the key to mass adoption?
« Reply #1 on: October 09, 2018, 08:15:29 PM »
Can't do it. That breaks the decentralized concept and ruins the system. Yes, there are many people that have at least one issue and lose coins within their crypto lifetime. This can only be controlled by their knowledge. Some sites provide things like escrow, but that is not within the coin code and can never be.
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