Litecoin’s Charlie Lee Talks About The Missing Element For Crypto Mass Adoption
After the bearish 2018, this year, more crypto experts and analysts have been saying that we can definitely expect crypto mainstream adoption.
They said that despite the fact that last year was not so fortunate in terms of crypto prices, the market matured and the valuable projects have been separated from the weak ones.
Now, Litecoin founder Charlie Lee talks about crypto mass adoption, addressing the missing piece for the achievement of this huge goal.
Practical utility for crypto is all that’s reportedly missing
During a brand new interview with the Wharton School of the University of Pennsylvania, Lee said that practical utility would be the factor that delivers digital currencies to the masses.
“… I think in the future you will be using cryptocurrencies in your daily lives, and you may not even realize it,” he said.
He continued and explained that “If Bitcoin really does become as ubiquitous as money, it will have to be easy to use. It will be very different from what we are doing today. Who knows what devices we will be using, but you could be spending Bitcoin, buying stuff, and you wouldn’t even know it. You may not even call it Bitcoin. It might just be money.”
Changpeng Zhao says the FOMO will trigger mass adoption
Binance CEO Changpeng Zhao, on the other hand, believes that institutional money could trigger mass adoption of crypto.
He said that we’re out of the crypto winter and the FOMO mode has been engaged.
He’s also expecting a massive wave of institutional investors to enter the crypto market.
“The fact that the price can go up so quickly means that there was a lot of money waiting to buy Bitcoin. And they were fearing missing out – the FOMO mentality. So the fact that the price can go up so quickly means all that money was ready, which means that people still have a lot of confidence in this industry,” CZ said as reported by The Daily Hodl.
Ex-Google engineer, Charlie Lee is the creator of Litecoin and MD of the Litecoin Foundation. Previously Director of Engineering at Coinbase, Lee now focuses full-time on Litecoin. To enhance fungibility and privacy of LTC, integration of MimbleWimble has begun, however Lee has recently announced a crowdfunding launch to fund the development.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.