From the offset of the CryptoCracker journey, we were unapologetically focussed on one thing – keeping it simple. It wasn’t just a nice to have concept. We felt, and still do, that this one concept is the vital un-blocker to bring Crypto to the masses and allow the market to grow in the dramatic and trend changing way it should. Why would simplicity help achieve this ? Well, ask your grandma or older uncle what they know about crypto, and then consider if the question is still an open one.
Enabling Access Instead of Gatekeeping through Complicated Analyses
Yes, Crypto is a financial instrument and because of that, it should be treated in a clear comprehensive way which avoids very damaging mistakes and cost someone, or many people, livelihoods, careers and life’s investments.
However, Comprehensive does not have to mean difficult. Safeguarding does not have to mean alienating and Safe does not have to mean punitive.
Simple is very difficult to achieve. To create that simplistic experience for the user, requires a conversely huge amount of technologically advanced work in the background – the point is, that it is experience that provides affirmation, not the effort that was required to get there.
The truth is that in our lives and our daily journeys, we are surrounded by technology in each and every place we work, play, study and recreate. The secret to a successfully adopted technology is that it’s hardly seen. It is merely a vehicle to deliver on a perceived “need”.
Nobody wanted or thought they needed a mobile phone until it was mainstream. But then nobody wanted a Smart mobile phone until it was mainstream. Very few thought they needed a PC or laptop until it was mainstream, or a Smart watch, a Bluetooth speaker, mobile banking, or now, very much in vogue, an electric car – until it was mainstream. But what makes something “mainstream” ? Why would mass adoption occur for these technologies? Theres a life cycle to consider here.
Before any technology is mainstream it undergoes a life cycle which tests its boundaries and ultimately decides on whether it has reached the maturity it needs, to be at that holy grail “mainstream” level.
Initially, there are the innovators who tend to be younger, prosperous, more educated and risk takers. This space expands into an early adopter’s cohort who are less prosperous but leaders in communities. The early majority emerge who are more conservative but open to new ideas and will be active as influencers in communities. Therein, the late majority kicks in which are the older, more conservative but will follow the herd. This eventually leads to the laggards – very conservative, oldest and least educated but ultimately will follow the mainstream if they must.
Wikipedia
Crypto is very clearly in the early adopter’s market, which means we have a ways to go to bring on the majority market users. The Crypto Curious are more likely characterised within the early majority cohort, which means they are open to the ideas but will need to be supported and reassured they are moving in the right direction.
So what is the catalyst which transcends the early adopters to a majority user. It’s pretty straightforward – early adopters will work around the glitches, complexity and education overhead of a developing technology, whereas the majority will not – they expect a simple, easy to use, transparent of technology, experience.
Simplicity is the path to Mass Adoption
As we push and cajole the masses to come into the Crypto space, the demand for this simplicity of experience will accelerate and exponentially grow. There is a certain degree of chicken-and-egg here as the adoption will not grow without the simplicity but the access to the technology must increase to entice the cohort in. Ultimately, the natural development will be that the Crypto solutions which provide the best simplicity of use will be the more likely to be used and therein the adoption life cycle can continue and mature.
Outside of the adoption in the marketplace, we should consider the actual social and economic impacts from this mass adoption usage. We are seeing a demand to democratize the use of money as a vehicle in life and prosperity. People want more control, transparency and opportunity with their finances and their growth. Having a vastly different and much bigger space to do this is becoming almost a certainty as the world shrinks and the technology (and its simplicity of use!) grows.
We should expect crypto trading to be synonymous with any mobile or online banking, that ultimately there are no longer lines drawn over a traditional fiat currency being managed versus a multitude of crypto based currencies. Diversity and control of your assets and the opportunities each may provide is the ultimate goal.
Creating more Equitable Access to the Market
For CryptoCracker to succeed in its mission and journey, the market needs to continue to grow and develop to the extent where our focus on its simplicity can be leveraged and utilised by the incoming cohort.
We believe that we have joined a pioneering group of market providers who are ready and waiting for the industry to grow into its next stage and realisation. The key thing in all the technology markets – the less you promote the technology, and concentrate on the solution it provides, the faster the adoption and success of the product and services the technology provides.
It’s an exciting time for the Crypto industry but also one of the hardest phases – breaking into the majority market. We hope we can help that by being ready to provide the simpler experience for that oncoming market.