One of the most famous representatives of the cryptoworld, blockchain expert, speaker and writer Andreas Antonopoulos, signaled the future of cryptocurrency adaptation during the Deconomy conference in Seoul, South Korea.
Antonopoulos has heard during the conference that South Korean people (but this view can also be applied to all people in general) will adopt the use of cryptocurrency only in the future when a new generation of applications is created that will bring their full use to digital currencies.
Bitcoin, according to Antonopoulos, will replace the current banking system based on fake currencies, but only when applications are created that are easy to use for every average consumer.
"Today, we are doing our best to simulate an existing system with fewer intermediaries and less centralization so that we can then advance and start creating applications that are absolutely impossible in the current centralized financial system. And then, at that moment, Koreans will really need cryptocurrency . "
Antonopoulos admitted that at present, the use of cryptocurrency remains either a hobby for their enthusiasts or a product of despair in the event of bank failure. Bitcoin currently uses only a small fraction of people, which is understandable because its use requires technical knowledge that is needed to safely store and trade them.
"cryptocurrency and open blockchain systems are still being adopted only in places where the problems of the current financial system are so great that people are forced to use them despite difficult to understand, poorly developed applications," he said frankly.
Despite all these weaknesses of Bitcoin, which was created only 10 years ago, it is a bright future, according to Antonopoulos. Antonopoulos thinks he has minimal potential to compete with VISA and MasterCard. "We are ready to reach ten thousand times more capacity," he concluded in a positive tone.
Today we also informed you about the findings of the DataLight study, according to which Bitcoin will overtake VISA and MasterCard within 10 years.
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