Social Media on the Blockchain (SocialFi) Could Be Key to Mass Adoption.
01 Jul 2022, 07:44
Social Media on the Blockchain (SocialFi) Could Be Key to Mass Adoption🔑🔑🔑
Mass adoption has been a long-standing goal for the blockchain and crypto industry. Almost every business in this space strives for mass adoption in one way or the other. But, with just over 300 million crypto users and 70 million blockchain wallet users, there’s clearly a long way to go. Reasons like lack of government recognition, lack of understanding of the technology, and high-risk factors have been credited as deterrents to mass adoption. In this long list, the main deterrent still remains to be the lack of a strong enough use case.
The blockchain industry today is filled with unprecedented innovation. Yet, these innovations mostly focus on short-term growth and do not provide a strong reason for people to transition from centralized systems to decentralized ones.