Do you remember when the AOL CD’s first came in the mail? 500 hours for free! What a bargain! We all immediately unplugged our home phones and waited for the distinct sound of the dial-up modem opening the door to the worldwide web. Soon after, we picked out an obnoxious email address and away we went.
The internet had been around for years, but it took a few million CD’s jammed into mailboxes to make it accessible to every home in America. The barrier to entry had been too much until that point. The technology hadn’t changed behind the internet or email, it was ease of use and accessibility that made it practical for the everyman.
We find ourselves without 500 free hours in the world of cryptocurrencies. Sending tokens is not user-friendly or forgiving. Just one wrong digit or letter in your 34 character wallet address and you won’t be seeing those coins again. And calling your bank to “stop payment” is not an option. First time purchasers of cryptocurrencies can find exchanges to be intimidating; if you want to purchase a wide array of tokens, multiple exchanges will be required with multiple wallets to house these tokens. The technology behind these coins isn’t what is holding it back, it’s the user interface, accessibility, and experience.
Only 1 in 177 people in the world own cryptocurrency of any kind, only early adopters and ardent supporters of the blockchain are currently willing to overcome these obstacles. The rest of humanity waits for simplicity, ease, and necessity to enter into the crypto experience. But this time, the catalyst won’t be arriving in their mailbox. This time it will most likely be an app or a browser; something that is an easy, useful, and cost-effective door into the world of cryptocurrencies. Until that day comes, the impassioned few wait with open arms for the rest to join them.