In order to spread the adoption and encourage the use of crypto currency, there must be a systematic collaboration between all key stakeholders in the crypto space in the form of education, training and development.
As it is required, for mass adoption to happen there are factors that need to be in place to achieve such an enormous goal. The need for crypto adoption can not be overemphasized if not properly brought to the bare knowledge of the intended users.
History teaches us
Prior to the genesis of money, most of the transactions for trade and investment were centred around the barter system, which involves the exchange of goods and services.
This was very limiting in no small measure as there were major challenges associated with that method that included, but not limited, to measurement and scaling of the quantity of barter to be exchanged.
This didn't create room for people to exchange their goods and services in an equitable form, which in the long run led to alternative means for transactions to take place.
Those processes transformed from one form to another which basically translated from solid metal as medium of exchange, like gold and silver, to coins, which were minted with precious metals and made available as a medium of exchange.
However, in the 19th century other forms of money were created that included notes.
These all became legal tender for transactional purposes and accepted as a result of the measurements, quantity and acceptability of the notes produced based on the fact that it was backed by gold.
When central banks started producing an unlimited quantity of these notes, which until the end of the Gold Standard were backed by precious metals, faith in these notes began dissipating, as the value of these notes depreciated, becoming a concern for governments and inducing higher risk of inflation.
And then came Blockchain
Blockchain technology was created and currencies were developed using this technology and that heralded the birth of Bitcoin (a peer to peer virtual currency developed using blockchain technology to facilitate instant paymentsin 2009).
This started with a simple transaction between Satoshi Nakamoto and Hal Finney, and in 2010 the famous Pizza purchase of 10,000 Bitcoins signifying the first transaction using BTC as a medium of exchange for good.
It was observed that the transaction speed and block confirmation experienced a slow response time and other cryptocurrencies were developed using algorithms with faster block confirmation timing and transaction speeds, even though it often sacrificed decentralization for increased speed and delivery.
However, the proliferation of numerous cryptocurrency coins and tokens has brought about a review of how to narrow down the quantity and perhaps focus on a few currencies for the purpose of adoption globally as most people, especially new entrants into the space, get confused around what cryptocurrency to use or buy as a means of transaction.
It has to be Klever
The Klever community has taken the responsibility of educating the populace with a strategy of creating educational content virtually from our various social media platforms like twitter, telegram, discord, medium, github and so much more all with the aim of making the people more aware of the transformational power that is happening in the space on a regularly basis.
This improved the lives of people in the Klever community in great ways and as such gave them more insight in helping to spread adoption of the use of cryptocurrency.
It is also pertinent to note that the Klever team has been engaging with numerous partners in real life business use cases for the use of cryptocurrency as a medium of exchange.
The recent feat achieved by Klever includes the use of KLV token in partnership with Travala.com as a means of payment for hotels, flights and resorts globally, where the users who request to book for these facilities can simply pay their fees using the Klever token and other cryptocurrency.
This would definitely put the cryptocurrency on the lips and minds of over 1 billion users who are involved in travelling all around the world.
In conclusion, having a smartphone without having a Klever wallet and the other Klever apps is not a smart way of living afterall.
Think Klever, live smarter.
By James Enajite