CoinCorner's Views on the News tries to debunk many misleading news stories, along with giving an industry insiders view on the hottest topics and stories from around the bitcoin world.

Community Efforts To Boost Bitcoin Education



One method to increase the number of people interested in the world of Bitcoin and digital currencies is through education and exchanging ideas. Either type of effort will heavily rely on community participation as we can’t expect industry experts to do all of the hard work. It is positive to see bitcoin community members take it upon themselves to engage others in meaningful discussions regarding digital currency.

Source: The Merkle

How does it affect the (bitcoin) industry?

Working in the industry, I often have friends and family asking me, “What is bitcoin?” Bitcoin is still firmly in the early adoption stage and for the slow majority (laggards), trying to explain bitcoin in a way this audience can understand is challenging. One of the best ways of increasing user adoption is to increase education in both the technology and benefits of bitcoin.

Most people only know of bitcoin because of its colourful history and their initial reaction to hearing I work in the bitcoin industry is to mention that history, or for the slightly more educated that it’s just dead. Whereas the reality is rather different.

Bitcoin is realised by many as having reached a critical mass to the point where it’s now here to stay, buoyed by the fintech sector’s appetite for the underlying technology, the blockchain.

The early adopters of bitcoin now need to overcome the negative press towards bitcoin and promote the technology and benefits with products people want to interact with and use.

How does it affect CoinCorner?

It’s very important for CoinCorner to onboard new people to bitcoin in the easiest way possible. At the moment, this can be made hard by the banking situation, however, new products can be created to educate and promote bitcoin to people who may not have the technological knowledge of those in the industry.

At the moment looking around on the internet all you find is pages and pages of text with technical terms which makes bitcoin still seem a bit ‘geeky’.

In order to push the wider adoption of bitcoin, general consumers must be excited or interested in order to spend any time engaging in a new idea, think of the last major mass user adoption disruption… smartphones. General users always want the easiest and quickest way to their ‘goal’, and bitcoin fills the void of slow online transactions, especially mobile platform transactions (think of entering card details, personal information and 3%+ fee’s vs lower fees, only needing bitcoin address information), as well as point of sale transactions, with bitcoin needing just a QR code to complete a transaction.

CoinCorner are now working on an interactive educational tool to help bitcoin adoption for the masses, using an online transaction as the use case.

Disclaimer: The views and opinions expressed here represent those of the contributor, not necessarily those of CoinCorner.

What is the best way to educate people about bitcoin? Let us know your thoughts in the comments below…



Liam, News, Opinion, Views On The News

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