J.P. Morgan most definitely understands the blockchain technology, as does IBM, Microsoft and Dish Network. For big companies using the blockchain technology really does make sense.
The blockchain is a very secure way to privately control inventory, orders and payments. Everything is recorded permanently with in the code of the blockchain.
If any issues come up....well then you can view the blockchain just like you would a physical ledger. Most businesses are already familiar with a ledger. So adapting to this new technology is not much more then updating your employees training, most companies already keep their employees up to date on new technologies.
I must admit that personally I have found that:
With that being said....I believe that the biggest problem for Bitcoin being able to go mainstream is that I/you have to open so many accounts just so I/you can use crypto currencies for everyday purchases.
I have found that depending on the merchant you are buying from, will dictate whether or not your crypto wallet is compatible with theirs.
Next, the everyday hard working person is not normally tech savvy like you need to be in order understand what your looking at when you view the ledger for said blockchain. Heck I know how to code some and I do not completely understand!!
Friends that I know want to get into crypto currency investing but the main reason that they don't is because it is so hard to get it to an account that allows you to use it in the real world. Keep in mind my friends are considered middle class citizens, so for them it is a must to be able to use their crypto for purchases , that are as easy with a fiat currency transactions.
Unfortunately, Bitcoin is still hard to use everyday because of all the different accounts one must open just to be able to use Bitcoin for their purchases.
I believe that crypto currencies will one day become a mainstream method of handling financial transactions in our everyday lives. But it will not happen until it becomes easier for the everyday middle class citizen to pay bills and buy their groceries.
When this technology becomes easier to use, meaning a person can have just one or 2 accounts that allow them to make purchases any where they need to, it will then become a mainstream currency.
Right now bitcoin is still nothing more than an investment. For me I really do not risk any thing cause I get most of my crypto for free everyday from faucets and PTC's sites.
Maybe in another 10 yrs this technology will be easier to use and understand, right now Bitcoin is still growing and is very confusing to grasp for the middle class citizen. Until the markets settle down and crypto becomes easier to use, only us crypto geeks will be using it to buy products and services.
Any ways that's my thoughts on the subject.....below is the post that I read and it put me on this thought process.....Until crypto settles down and is more widely accepted it will remain a novelty investment and nothing more. Enjoy the post below and let me know what you think.
