I really like this post because this is the way we should be thinking, ie how to develop or find solid use cases for Steem. The most important thing to me to drive adoption of a cryptocurrency is ease of use and utility. Right now cryptocurrency is to complicated and once you do all the work of figuring g it out you may find you can’t buy anything with it. That’s why most crypto millionaire stories end in “ I cashed out my tokens to USD and lived happily ever after”. Because most people are not able to buy the stuff they need with their crypto. Now while there are examples of projects where you can use Bitcoin to buy everything like the South Brisbane Airport, these are limited in scope as we can’t all go shopping in Brisbane.
However it’s these non-sexy programs like gift card purchases with crypto or crypto debit cards which feature a feature where you deposit or load the card with crypto and spend cash or euros on debit card purchases. Those programs have high utility and high ease of use, and most importantly they bring utility. Utility is to me the holy grail of cryptocurrency mass adoption.
The second reason I like this post is because you also mention a very important issue transaction costs. The funny thing about being in the Steem blockchain is that because our transactions are free, we don’t think about transaction costs and we don’t see what a big plus this is for Steem. Currently just about all other altcoins have transaction fees, even Doge Coin! Which ironically has as one its high value points its low transaction fees. So low that there were Doge Bitcoin pairs earlier then many other more expensive coins because Doge is used to move Bitcoin from point A to Point B cheaply, and you buy Bitcoin yo purchase another Altcoin. Ironically there are Zi believe tons of Doge transactions everyday for this reason. Many Altcoins weren’t on big exchanges and transferring your Bitcoin to those small exchanges cost a lot in mining fees, so instead people conveyed to Doge, transferred them Foge and then converted back to Bitcoin. It was surprisingly cheaper then just moving the Bitcoin.
Do I think you have stumbled upon? Or searched and found something significant and the process by which Steem could be adopted on this platform is worth researching.
Thanks for the information.
@shortsegments.
Yeah, people hold big crypto but they choose the crypto with less value and fees while doing transcation and don't give a shit about development of those coins .
And as for development , Steem and Hive should be really on these above mentioned like projects . I mean what is the use of only keeping crypto and paying all your bill with cash that you have to get by going to bank and waiting a long line(queue) .
How it would be if people sitting on chair post on DeFi income sites and order food , purchase their need and pay their bill sitting on that same chair with just only moving their finger?
BTW thanks for your time .