Business & Finance

No Magical Bullet Exists for Helping People to Focus on Cryptocurrency, says Co-founder of FoxyCart.com

The concept of cryptocurrency was revealed to the world after the birth of bitcoin. Since the success of world’s first cryptocurrency, many other cryptocurrencies have been launched. Now, these cryptocurrencies are considered as revolutionary and game-changing for the current economic system. With these prospects and many more, the phenomenon of mass adoption gets associated with cryptocurrencies and ways to increase the use of cryptocurrency matters a lot.

To explore ways of increasing the use of cryptocurrencies, BlockPublisher got in contact with Luke Stokes, the co-founder and CTO of FoxyCart.com. Apart from this, Luke is also a Launch Team member at eosDAC. Upon enquiring about methods for directing people’s focus toward cryptocurrency to increase its usage, Luke suggested:

You can lead a horse to water, but you can’t make it drink. There is no magic bullet, I think. Some things just take time. I think it’s eventually inevitable, but it all starts with conversations and spreading the word. Ask people “What is money anyway?

This implies that direction could be possibly shown to the people who are, in the first place, interested in the cryptocurrencies. But people can’t be forced to like cryptocurrency and adopt it. Although it’s a gradual process which requires time, Luke thinks that cryptocurrency surely will become common in the future.

Cryptocurrencies put a good fight to conventional banking systems and centralization but still many people are thwarting the mass adoption by not accepting cryptocurrencies. Things happen at their own speeds and rates as suggested by Luke that acceptance of cryptocurrency will take time but it is bound to happen in the future.

 

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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