Before discussing how Electroneum is thriving for mass adoption, let's take some basic notions. What is the meaning of "mass adoption" and which cryptocurrencies could really make it happen? The answer to these two questions will determine the fate of the cryptic.
Sooner or later some tokens will become useful (and used by) many people in the real world. This will create the demand for those tokens and the demand will increase its value. It will be the point where the cryptographic market becomes mature, the one that responds to real economic forces (such as supply and demand) instead of being a toy for speculators as it is today.
So let's start from the beginning. Mass adoption means that, given any type of technology, product or product, at least seven out of ten people know what and what they can do with it. This definition does not take into account if they actually use it, only if they are aware of it. Think of Facebook, for example. Not everyone you know has an active account there.
But it is likely that almost everyone you know understands what it is and can start using it whenever they want (if they are not already using it) at a rate of over 70%. Perhaps a more explicit example is coffee. The percentage of coffee drinkers in the United States is about 83%, which is enough to guarantee mass adoption. And everyone knows about Starbuck.
So, when digital resources will be considered mass? When 70% of the people you know understand quite well what cryptocurrencies are, how to acquire them and use them regularly. It's still far away, but we're getting there.
Electroneum can reach a mass adoption? Which is to ask, there will be a time when 70% of all the people you know will know what Electroneum is, what is its native token (ETN), how to extract it and use it regularly? We believe it can, we will explain why.
For any product or idea to do it, it must be useful. Not only useful, but must also bring to the table some kind of competitive advantage that other similar products do not have. When you have a product like that, you have to advertise it correctly so that people find out that it is available to them. Can Electroneum satisfy these two criteria?
The goal of Electroneum is precisely to be useful by emphasizing mobility. The point in the project is that you can extract, store and spend your ETN coins using nothing but your mobile phone. It is designed to be useful, but only becomes useful when companies in the real world adopt it as a means of payment. So, is it useful now? Not really, but unlike many other cryptocurrencies, this is, at least, designed to be useful.
Then marketing comes. Electroneum is established as the fastest currency and also markets its mobile mining capability. The project leader is actually a marketing expert involved in blockchain technology. Part of the marketing strategy is to make everything very simple. This includes the extraction, coin management and settlement of micropayments.
Perhaps marketing would be even better if Electroneum called itself something like a "fintech digital mobile wallet" because the term "cryptocurrency" is still a block for many users all over the world. But even so, their advertising and adoption strategy is solid and is making a lot of progress very quickly.
There's even a game called Hodl Rocket that you can play on your phone and that will eventually reward you for playing with ETN tokens.
So when 70% of your friends and relatives will know what's the ETN? Well, you could start by telling them to yourself. But we believe that, eventually, Electroneum will get mass adoption and many people around the world will use mining tokens and use them to pay for their coffee.
For real-time business alerts and a daily distribution of encrypted markets, subscribe to Elite membership!
Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Free-Photos / PixaBay