I'm new to Steemit and definitely new to the cryptocurrency community. Yet, I've noticed there are quite a few alt coins floating around and much more being created daily. I even recently read that the Kik App debuted their own digital currency.
As a techie, I'm thrilled about the future and possibilities of cryptocurrencies, blockchains, and smart contracts. I know mass adoption for the public is still years in the making. Yet, I can already envision a day where I'll be able to hop in a self-driving car and it will immediately pay for my ride, navigate me to my destination, alert specified parties of my status and bill me for any in-car purchases—all autonomously and anonymously! It's hard for me to imagine someone not excited about the prospects these technologies bring to the table.
Yet, as a consumer, I'm overwhelmed with the number of altcoin options currently available. I feel like this technology was designed to simplify things, not make them more confusing. I don't want a cryptocurrency for every website, application, or interaction! Yet, it feels like that's where we're headed. There seems to be a new ICO launched everyday! And the truth is, none of this is simplifying the process for an everyday consumer. It's a lot simpler, faster, and convenient to pay for something using a debit/credit card than it is to use Bitcoin or Altcoins.
Again, I know the adoption of these technologies on a massive scale is still years in the making. I'm excited about where these technologies will take us in the future. Yet, I feel too many companies and groups are flooding the market with their own form of digital currency. In turn, making it very confusing for everyday consumers and slowing down the process of mass adoption. It would be smarter for us to focus on making digital currencies more user-friendly versus throwing more "crapcoins" into the marketplace. Once the process is simplified for the masses, then we will see a huge increase in adoption.
What's your take? Do you feel we should focus on creating more coins? Or do you feel we should be working to simplifying the process for everyday consumers?