The cryptocurrency world has faced a lot of hurdles in the way of its adoption. Lack of regulation and technological bounds have been the major reasons why cryptocurrencies have not seen greater adoption across the world. But despite all the struggles, some crypto projects have managed to stand out tough and even reach big names.
DLive is a decentralized blockchain-based platform that provides a live streaming outlet to the world. It uses a cryptocurrency “Lino Point” at its core which is the representative of value in the network. These points are used by the platform to reward the content-creators and viewers in its ecosystem. This year, the platform managed to strike an exclusive deal with one of the biggest name in the digital media world and YouTube sensation, PewDiePie.
Felix Arvid Ulf Kjellberg, or commonly known as PewDiePie due to his channel name, is a Swedish gamer and “meme reviewer”. PewDiePie usually makes comedy videos doing commentary on various social media trends and reviewing memes. His channel has a staggering 96+ million subscribers.
This exclusive deal of PewDiePie with DLive proves that crypto is finally proving its worth to the world. There is a world that lies beyond just bitcoin and trading, various cryptos find various uses in unique platforms like DLive.
Since DLive brought PewDiePie on board, the platform has also seen a significant increase in the number of its monthly active users. With the deal, PewDiePie exposed his wide audience from all parts of the globe to a blockchain-based platform using a cryptocurrency at its core thus increasing its adoption to some extent.
This also unlocks a new door for cryptos to get more adoption worldwide, get themselves endorsed by celebrities and social media influencers. It is a huge win for crypto that a popular personality like PewDiePie is all-in on one of its platforms.
DLive also exposes the benefits offered by blockchain technology overall. While some people look at blockchain only in terms of its link with bitcoin, the technology is much more far-reaching than it is usually thought of. It can be utilized to make every centralized framework decentralized thus providing more transparency and openness.
These properties make blockchain of extreme importance in the finance arena as well. But DLive innovatively uses this technology in the niche of live streaming building a platform that rewards its users in cryptos. Since crypto tokens are inborn in the blockchain networks, they incorporate a complete financial component in any network they build.
Now for cryptos to reach beyond the likes of PewDiePie and get more adoption in the world, the major issues linked with this space need to be solved as soon as possible. These issues exist in the form of price volatility, price manipulation, lack of regulation, fraudulent activities etc. The official acceptance of cryptos on an official level is also low due to these issues.
The volatility in prices of cryptos is a serious issue when it comes to the aspect of using them as a source of making payments. Due to price volatility, it only becomes natural to hold or HODL cryptos than to use it as a payment method. Lack of regulatory frameworks allows for illegal activities to seep into the crypto world and thus make this area an unattractive one for the institutional investors.
All in all, it has been just over a decade since cryptocurrencies came out on the international financial scene. Cryptos are poised against the banking system of the world which has taken over centuries to develop itself. Just like every technological innovation, time is needed for cryptos to get mature. For now, the amount of progress that it has made is commendable. In a matter of a decade, it has developed a pretty strong stance against the banks.
Now, reaching PewDiePie is just the first stepping stone. The journey is long and tiring. It will be interesting to see how the blockchain and crypto world gets developed and gains adoption as more and more capital and intellect flows into this uncertain and volatile world. If big celebrities and brands across the globe start adopting cryptos, it is very likely that the general public will follow suit too.