If you are invested in cryptocurrencies, or it is a method of payment your business accepts, this is big news for you! This morning the Imperial College of London.
What's the one thing holding back cryptocurrency from mass adoption? REAL WORLD EVERYDAY USE! Skeptics claim that the blockchain would never be able to support the amount of transactions, at the rate of speed that companies like Visa, and MasterCard are able to achieve. Well this morning, a study released by Imperial College-London entitled, "Cryptocurrencies: Overcoming Barriers to Trust and Adoption" leads us to believe that, maybe, the skeptics are wrong.
"The world of cryptocurrency is evolving as rapidly as the considerable collection of confusing terminology that accompanies it," said Imperial professor William Knottenbelt.
"There's a lot of skepticism over cryptocurrencies and how they could ever become a day-today payment system used by the man on the street. In this research we show that cryptocurrencies have already made significant headway towards fulfilling the criteria for becoming a widely accepted method of payment."
Frankly, the only things at this current point in time Bitcoin and other cryptos need to work on are scalability, and regulation. The regulation is a necessary evil. It will cut out the market manipulation we have all come to know, and expect, among other positives. And the scalability is absolutely necessary when dealing with large amounts of transactions constantly. The tech is not too far off though...should be an interesting second half to 2018.
All credit goes to Forbes.com
https://www.forbes.com/sites/billybambrough/2018/07/09/new-paper-reveals-massive-bitcoin-backing/#f0b658b5eadf