Bitcoin Q&A: Crossing the chasm of theoretical vs. real need

Bitcoin Q&A: Crossing the chasm of theoretical vs. real need

Paris Merkle Conference

The shift in start-ups promoting bitcoin adoption to “blockchain for enterprise.” What needs to happen in order for mass adoption to occur? The most important factor in entrepreneurialism is timing; you have to wait until the density of adoption allows you to set up a market. One-sided and two-side markets. Two-sided markets are much easier with online commerce. Facebook as a physical radius bootstrapping, small focus group example. Real vs. theoretical or ideological need. You’re not going to see the bootstrapping of bitcoin as a retail payment application among affluent, connected, banked people; first we’re going to see many of the unbanked dealing with problems. The biggest application today, outside of basic infrastructure, is remittances. 2.5 billion people around the world have zero access to banking, and 4.5 billion have limited access. Going through many complex steps to keep 15% of their money is worth it.

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