The technology adoption life cycle is a sociological model that describes the adoption or acceptance of a new product or innovation, according to the demographic and psychological characteristics of defined adopter groups. The 1957 demographic and psychological report found the groups to be categorized as such:
- Innovators — had larger farms, were more educated, more prosperous and more risk-oriented
- early adopters — younger, more educated, tended to be community leaders, less prosperous
- early majority — more conservative but open to new ideas, active in community and influence to neighbors
- late majority — older, less educated, fairly conservative and less socially active
- laggards — very conservative, had small farms and capital, oldest and least educated
The most difficult step is making the transition between early adopters and majority. If a successful project can create a major effect in which enough momentum builds, then the product becomes a standard. Also see network effect
We are currently under 2% adoption the America. The hoards are coming. Where in the cycle will you get in? (and at what price?)
Here is the Hype Cycle and the Technology Adoption Life Cycle overplayed.
The institutional investors are coming. Institutional Investors Will Bet Big on Cryptocurrencies in 2018 Cointelegraph
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