Want mass adoption? Solve these 3 issues.

It probably feels counter-intuitive but I strongly feel that the mass adoption of bitcoin and other cryptocurrencies can only happen in a regulated environment.

What is preventing mass adoption of cryptocurrencies today? I think there are 3 clear reasons:

A. Lack of trust in cryptosphere: Why should they? This space is unregulated, there have been plenty of scams as a result, and there is no recourse to lost funds. Sure, most of the world is disgruntled with their Governments but they feel secure in such a system (equilibrium state). They would surely be interested in understanding and investing in something in a regulated environment, but not outside of it.

Solution: Regulation (I know original believers will hate me for this, but that's the sad truth)

B. Lack of education: There are many conferences and discussion groups online. However, it only caters to people who are either aware of cryptocurrencies or frequent such online groups. Most of the masses don't understand how blockchain works, how bitcoin works, what are its utilities, and why they should buy them. We saw a massive spike of investors through 2017/18 but those were driven by speculation rather than any fundamental interest in this space.

Solution: Introduce education at root level - make it symbiotic with blockchain

C. Products designed for tech-savvy people: While the innovation in this space will take technology to the next level, the uber focus on technology, making the interfaces more sophisticated will make it almost impossible for regular people to participate. We need simpler products where the transactions can be done by a lay man as well.

Solution: Introduce easier products for mainstream appeal

On top of all of this I believe the space also requires a bit of patience. None of the above things will happen overnight but the solutions to these issues can eventually take crypto to the masses.

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