• 13 developments that could kindle the public’s interest in the crypto industry include more digital asset experiences from major brands, erosion of trust in central banks and better consumer protection policies.
• These trends and deliberate industry action could lead to a groundswell of interest in the crypto industry among the general public.
• Industry can help by pushing awareness and implementing better consumer protection measures to build trust.
Crypto Industry: A Potential Watershed Moment
The crypto industry is on the brink of a potential watershed moment when it comes to public adoption. With various factors holding back widespread public interest and adoption, this article explores 13 developments that could potentially ignite the spark needed for greater public engagement with cryptocurrencies.
More Digital Asset Experiences From Major Brands
Web3 has the potential to disrupt and reinvent day-to-day activities such as shopping, ticketing, loyalty programs and entertainment through digital assets. Companies like Nike, Coca-Cola and Louis Vuitton are already offering unique experiences backed by digital assets with nonfungible tokens providing real-life utility including extra perks, access to communities, tangible physical products and loyalty programs.
Erosion Of Trust In Central Banks
Confidence in government treasuries and central bank policy has been slowly eroding since 2015 with peak mistrust being reached around this time. Crypto presents an alternative store of wealth that is more resistant to centralized control leading to market forces discounting centralized money over time.
Better Consumer Protection Policies
Crypto awareness needs to be pushed out into popular culture while also addressing concerns about risks associated with customer safety and security so as to build trust within the community. Implementing better consumer protection measures can boost interest in cryptocurrencies amongst those who may have previously had reservations due to lack of understanding or bad actors creating negative publicity around crypto industry activity.
The combination of trends already underway along with conscious decision making within the industry could lead us closer towards a tipping point in terms of widespread public adoption of cryptocurrencies. It is up to companies within this space to help create this positive shift by pushing awareness amongst those unfamiliar with cryptocurrency technology while also providing adequate measures for consumer safety so as to finally reach that watershed moment where crypto goes mainstream!