If you don't adopt the blockchain technology, what would you do? Install an ATM machine on the moon?
Social trading and multi-asset brokerage company eToro and Imperial College London have published on July 9, 2018, a research paper stating that cryptocurrencies might become a mainstream payment method within the next decade.
“There’s a lot of skepticism over cryptocurrencies and how they could ever become a day-to-day 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,” Professor Knottenbelt explains.
According to the paper, there are three main criteria that cryptocurrencies must fulfill to become mainstream alongside traditional fiat money.
The first criterium is acting as a store of value. It means that it should allow individuals to make choices on when to spend their purchasing power.
The second is that they must act as a medium of exchange – facilitate the exchange of goods and services by eliminating the inefficiencies associated with a barter economy.
The last but not least important is the criteria of a unit of account, which means the currency acts as a measure of value in the economic system.More here