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From celebrities to household brands, crypto is on the verge of mainstream awareness. There was increased discussion in government circles about Bitcoin in the latest budget. Popular opinion and government regulation could make crypto mainstream sooner than later.
Consider Walmart’s test of Bitcoin ATMs at select locations. This is a big deal because it puts crypto in reach of everyday consumers. Walmart is not the only retailer exploring crypto. Croatia's largest supermarket chain already accepts several types of crypto, not just Bitcoin.
Keep in mind that places like El Salvator and Venezuela realize the true value of crypto. Their economies adopted crypto, out of need. Small business operators in these struggling economies demonstrate the advantages of P2P money.
It’s important to focus on the advantages crypto has for struggling economies. The allure of Bitcoin atms inspired mall locations within the United States. However, this was more of a novelty. Nations like Korea, Japan and Malta are some of the most welcoming to crypto. Their adoption was instrumental. Still, successful ventures that uplift economies in ways never before possible is what the P2P technology is about.
Some nations, like India, have seen success and failure at various levels with Bitcoin. It takes energy for every attempt. This is why as much as the nation of India needs crypto, government interference began to weigh heavily on mass adoption. Why else would a nation that discontinued a denomination of its currency alongside increased use in Bitcoin remain relatively quiet on the matter. Indian officials seem to take the position that if first world governments were not going to support Bitcoin, then neither would they.
India’s position is a mistake if there ever was one. El Salvador and Venezuela are beginning to illustrate why. As advanced as some municipalities of India have become, there are many others that desperately need what only P2P crypto networks can offer. Few first world governments face the challenges that India does.
Then there’s Samsung's recent announcement of NFT ready TVs. Corporate enterprises are beginning to realize what IBM and Amazon did a few years ago. That is, blockchain technology is unavoidable. For companies like Samsung, Burger King, and IMG (Miss Universe), this realization comes in the form of NFTs.
Growing popular sentiment, government inclusion and corporate enterprise are all trending toward crypto innovation. The blockchain community has asked that it not be scrutinized in comparison to traditional Internet applications. At least not yet. After all, traditional apps have servers, devices, connectivity providers, and regulations designed to support them. Furthermore, business and user mindsets readily accept incremental innovations of traditional applications.
Crypto innovations are fantastic by comparison. This is often why the developmental age of blockchain technology is compared to the Internet before smartphones, online videos, and the advent of social media. Dare we consider that crypto topics on the tongues of today's consumers will one day be looked back upon like that annoying AOL log on tone.
Originally published here.