8btc Interview: How Can Crypto Change the World? We Talk to Our Contributors
“Cryptos can change the world!”
For most people outside crypto world, the above sentence seems more like a slogan for scams rather than an emerging tech.
Countries like China and Japan, they have their cash or cashless society functions well. Cryptos seem unnecessary, or even a rebellious force.
However, there’s some kind of people they work at home not because of the Coronavirus, but for cryptos. They enjoy the freedom shared with cryptos.
They are freelancers in crypto world.
Do cryptocurrencies really matter? Is it necessary to use cryptocurrency in daily life? What changes can cryptocurrencies make? We spoke to several contributors from 8btc English News to find out from their own experience.
Impression on blockchain: use cases and fighting
Since his first article on 24 November 2016, Olusegun Ogundeji from Nigeria has published 356 posts on 8btc English News, with more than 7 million views.
He has been a freelance writer since 2008. ” Covering happenings in these areas of emerging technologies became necessary considering the impact of their potential and existing use cases,” he said.
He told 8btc that while there is still confusion about cryptocurrency and blockchain concepts in Nigeria, the country has become increasingly aware of these emerging technologies.
Last Wednesday, India’s Supreme Court lifted a nearly two-year ban on cryptocurrencies imposed by the Reserve Bank of India, sending the entire cryptocurrency community, not just India, into a frenzy.
Priyanka Saxena from India is a data platform engineer at Siemens. She said India’s “cryptocurrency winter” would end with the lifting of the ban.
“India is a software engineering power house. There are tons of crypto users in India… India is also home to many DeFi platforms like Nuo, Instadapp etc.”
In contrast to India’s ongoing struggle, almost every US state has set up blockchain work force to explore the use of blockchain in public affairs.
Based in the US, Natalie is an OG in blockchain field. She learned about bitcoin in 2014 when she saw a bitcoin ATM at Draper University – founded by silicon valley investor Tim Draper.
Power of blockchain: trust and transparency
“What changes can blockchain make in your country?”
They gave me two key words:
Transparency. Priyanka and Priyeshu, both from India, mentioned about India’s inflation problem. Priyanka said there are plenty of politicians and officials in India who are deliberately keeping high inflation by issuing a lot of money, and it is normal for individuals to be unable to repay their loans. Cryptocurrencies, on the other hand, can unlink governments from their currencies and create a more transparent government.
Trust. Natalie told 8btc that blockchain has created a layer of trust, reshaping the way we interact with the Internet, and increasingly addressing data leaks and identity theft.
“It will acknowledge the value of people’s attention and data, and give financial reward directly to the users. In the long run, blockchain will be a building block for a borderless virtual world where economy is reshaped for better.”
From the perspective of trust, Olusegun believes that blockchain can bring more convenience to users in Nigeria and other countries and enhance their awareness of financial responsibility.
Olusegun also points out that the ecosystem proposed by Bytom is promising. In current stage, although the competition is very fierce, but Bytom can fare well in terms of strength, opportunities and threats.
Attitude of blockchain: cryptos and daily life
Whether we should spend of hodl cryptos, they gave us different responses.
Olusegun: I use crypto in my daily life. Payment from my source of income get paid in crypto hence the daily use to sustain my livelihood.
Priyanka: I’m a Hodler. I like to hold my precious cryptocurrencies safely guarded in a hardware wallet.
Priyeshu: I’m hodler who also spends crypto in daily life. Spending is the ultimate path to mass adoption.
Natalie: No, I don’t use crypto in my daily life because the user experience is still quite a nuisance.
Most people are Hodler for a variety of reasons, either because they are waiting for a higher price or because they have become dependent on cash and payment apps, while few actually use cryptocurrency in their daily lives. User experience may no longer be a big issue, but user habits and merchant acceptance are the real sticking points.
But we believe, as Priyeshu has said, that mass adoption can only be achieved by spending cryptocurrency.