How Long Will It Take?

I was asked this question this morning dear reader. It was to do with cryptocurrency and how long will it be before it replaces [fiat] cash.

An interesting question.

CryptoWorld conveniently produced a pictorial recently where the following question was posed:

"How many years did it take for these products to reach 50m users?"

In other words around 1% of the world's population. I found the results interesting.

Cars 62 years

Telephone 50 years

Electricity 46 years

Credit Cards 28 years

ATMs 18 years

Internet 7 years

Paypal 5 years

YouTube 4 years

Facebook 3 years

Twitter 2 years

Bitcoin/crypto ?

It is clear to me that since Berners-Lee's amazing invention [world wide web] the speed of change and acceptance of change has quickened significantly.

To answer my friends question, in light of the above, is no easier BUT alternative currencies are here to stay. Regulation and payment solutions, not to mention the advent of crypto Exchange Traded Funds will make cryptocurrencies mainstream.

The centralised system and its advocates will use ever more desperate tactics to frighten people off but it is inevitable that the revolution, started 10 years ago by a group of disgruntled tax payers, paying the price for the latest financial crash, is gathering pace.

#cryptocurrency #blockchain #systemic change