Welcome back,
In today's blog we will talk about how has crypto industry has started being adopted by this world in different ways. Before we move on here is a quick question to the readers, what do you know about crypto adoption? Do you think it is being adopted in this world already or we are just living in dilemma.
So as we are talking about crypto adoption there can be two different ways we can look at it. First is that a country accepts crypto or number of cryptos as a legal tender for their country while second is where the cryptos are not accepted as legal tender by the country but it allows other organisations to accept payments in crypto on their own risk.
I used the word risk as Crypto currencies are suibject to risk where people can gain or lose their original amount.
So let me share names of two small countries who were the first to adopt bitcoin as a legal tender for their country. The first was El Salvador which is a small latin american country and the second was Central African Republic (CAR). We are seeing positivity by countries like UAE, Russia, etc as well but they are still far from accepting cryptos as legal tenders for sure.
Now let me share a interesting thing with all of you today, I don't know if you are really aware about this but taylor swift is one of the first actress now whose movies tickets can be purchased using bitcoin, doge, and, shiba inu. Her film joined hands with Bitpay, one of the famous gateways for crypto currencies and that is how it was made possible for her movie tickets to be sold in exchange of these three crypto currencies.
I am not here to talk about her film or what the film is all about as that is not my subject, i am sharing this just to let readers know how crypto adoption is promoted at a really good level via her movie. She is a famous star and there is no doubt in that and just this fact will aware alot of people about Crypto currencies.
A tweet by Bitpay
By the way i got to know that Taylor Swift will recieve 57% of the sell revenue of the tickets and do you all understand what does that mean. It means there will be these three crypto currencies as well in which she will recieve her payments and that is interesting.
This also means her revenue from tickets will fluctuate based on the market performance if she do not decides to sell and hold those crypto for the future. There are probably managers who will manage that for her but i think she should hold those crypto that will be sent to her for the upcoming bull run. I hope she has a crypto expert in her team to manage this stuff.
Future Adoption
Now as we have learnt about the adoption and latest things going on in the industry related to adoption of crypto currencies, let us talk about the future of adoption.
There are different views about adoption but based on how things have changed in last two years i can say that we are slowly going to reach a point when majority of the countries will atleast have to allow different organisation to accept crypto as a payment method for their services and products.
We must understand that pure adoption or accepting all the crypto currencies in the market as legal tender is not an easy and rather i see it as a impossible thing to do. The reason is quite simple, there are possible scams running in the market in the name of crypto currencies and so if every token is accepted as a legal tender it will promote and motivate the scammers to scam easily.
For now we have started seeing adoption on organizational levels in different countries, I also shared two countries that has accepted bitcoin ( only ) as a legal tender and theirfore we are moving towards a bright future. Let's hope to see out tokens get accepted in the world for goods and services in near future so that we can feel proud being an early adopters of this industry.
With that i have come to an end of this blog, I hope i was able to share about crypto adoption in a good way. Feel free to start a discussion via threads or comments so that we improve our knowledge together.
Thank you