Everybody don't have to understand crypto or blockchain to use it!

in LeoFinancelast year

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The long lastly conversations on how crypto is complicated and how the technology will not be embraced by the vast majority due to this are just bullshit, this is one of those areas where we have to look at what is being said and understand truly what reality is in those words, are they the truth or lies that people tell themselves?

A little comparison with the banking institution

The banking system tracks back to over 2000 years before the common era(BCE), to give you a glimpse of how long a time it is, the oldest bank currently still in operation is the Banco di Napoli, an Italian bank headquartered in Naples, Italy. The bank in mention isn't the first banking setup in the world, however, based on wiki coverage, the origin of this bank dates back to 1463, so if my calculations are right, this is about 559 years ago.

Fast forward to modern banking where technology has had a great impact on how these financial institutions now operate and facilitate transactions, yet many users do not understand 20% of how the banking system works!

Questions we should ask ourselves are: How many people understand how paper notes placed in a bank end up on a screen? Or maybe how do credit and debit cards work? The underlying technology, what is it? How can it access our bank accounts? How is a card in my hand tied to my account and able to remove money that are just numbers on screens?

Of course, to some, these may be silly questions, to others maybe not, but to many, it doesn’t even matter because at the end of the day people just wish to be able to perform these basic activities of sending and receiving value(money).

Factoring in crypto and blockchain!

We should not expect the world to understand everything there is to know about the blockchain, nor should we expect them to care so much about it because all of it won’t matter unless it applies to each of them.

Instead of telling an average businessman that with crypto and blockchain his money is safe due to cryptographic algorithms and bla bla bla, tell him he can reach his customers over borders and facilitate global transactions with ease, tell him there are no fees for keeping his money there, tell him transactions are free or cost very little. He doesn’t have to understand proof of work to use Bitcoin, and neither does he need to understand delegated proof of stake to use Hive, these things will not matter to them, what matters is what gives their daily activities ease.

Changing our marketing strategy

Having had numerous marketing talks with a couple of close companies, one thing that appears in all marketing opinions is that the most successful marketing approach is one that lives as a “recommendation”.

Supposing a businessman is unable to purchase goods from his foreign dealing companies due to the restriction of global transactions, a simple recommendation to “pay with crypto” would get such a person to wish to grow more in that area!

Another thing is that instead of marketing “companies” market the “products”. Nobody cares about the name of a company, the origin, or the founders when there isn’t a pre-established relationship between them.

Products market a company, not the other way around. So following this, we have to understand that the blockchain is the last thing we should think of marketing to anyone. Tell them about what they can do with ease, the utility structures, and the investment products, cut the bullshit on “decentralization or centralization” in the first convo, some of us have never even held of that word before.

You wanna hear a story? I never thought a word such as “Quarantine” existed if not for the unfortunate experience of Covid. I mean, how do you even say that out loud without it sounding like a spell?

So you see, the education of the vast majority is a myth, even if we tried for 1,000 years you can only get people to adjust in areas that benefit them, nobody cares about what technology Facebook is built with, but millions go there on a daily to watch funny cat videos or throw tantrums all over the place.

The sooner we understand these things, the better our approach to getting the next person to the space will be.

Thank you and please leave a comment, your thoughts matter to me.

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Hi @badbitch!

I had in mind to write in the same direction as this. I'm a little sad that you've gotten ahead of yourself but I'm also glad to know that someone else thinks similarly and I couldn't have expressed it better. Anyway, I have the idea and maybe I will find a way to write in the same sense but with my own words and experiences, after all, we live in totally different countries and other daily realities.

By the way, your nickname reminded me of a fly that I often tie and use, it's called "Bitch Creek" in allusion to a stream that bears that name and is located between Idaho and Wyoming. (Flyfisherman stuff)

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Apologies for my extremely late reply, I totally missed this.

I'm equally glad to know I'm not the only one having this perspective on crypto usage and you should definitely share your article.

By the way, your nickname reminded me of a fly that I often tie and use, it's called "Bitch Creek" in allusion to a stream that bears that name and is located between Idaho and Wyoming. (Flyfisherman stuff)

I'm so blank on this, maybe I have to read up to grasp it all, interesting tho, thanks for the amazing comment.