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Bitcoin still retains confidence despite recent devaluation Despite all the clamour for new blockchain use-cases and more stable cryptocurrencies , bitcoin – which has long been the posterchild for all digital assets , but more recently has been beset by turmoil and a falling valuation – still retains robust confidence . As one industry insider recently said , bitcoin is only volatile right now as a retail investment – for other applications of bitcoin , its price does not necessarily matter .
“ I am still hugely excited about bitcoin ,” says Iskandar Vanblarcum , Europe General Manager at OKCoin . “ It is the perfect example of a blockchain protocol . We ’ ve seen early adoption and if you think of a
“ DESPITE THE PERCEIVED CHALLENGES , IT IS STILL A VERY EXCITING TIME FOR THE BLOCKCHAIN SPACE ”
ISKANDAR VANBLARCUM EUROPE GENERAL MANAGER , OKCOIN traditional distribution curve , it ’ s displaying positive signs for the future with innovators getting involved and enterprise adoption at various layers . What we ’ ve not seen yet is bitcoin ’ s use as a medium of exchange , but it ’ s coming slowly and that is very exciting not just for the crypto sector but for the future of blockchain technology .
“ It ’ s great to see people already using crypto more and more in their daily lives . It ’ s ultimately about a shift in mindset and understanding that there is no central authority . It ’ s a social economic function and that is the real-world application of blockchain that will ultimately transform people ' s lives .”
Much relies on informing and educating consumers Despite the hype , one thing that crypto industry insiders often forget is that everyday consumers – the regular person who might occasionally dabble in cryptocurrency – is not particularly well-versed in the blockchain . In fact , despite the progress already made , understanding of blockchain technology is still fairly nascent . Less than 1 % of the global population uses blockchain technology , and access to it is not shared equitably . Moreover , a recent survey from Cardify found that one in three crypto investors – those people who had already made the mental leapof-faith to put their money into cryptocurrencies – had little or no understanding of what crypto is . That figure should come as a shock to crypto advocates , although sadly it probably won ’ t .
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