What does Balaji Srinivasan foresee as the biggest challenges for cryptocurrency in the coming years?

3 answers

• Dec 28, 2021 · 3 years ago
  Balaji Srinivasan believes that one of the biggest challenges for cryptocurrency in the coming years is regulatory uncertainty. As governments around the world struggle to understand and regulate cryptocurrencies, it creates a sense of uncertainty for businesses and investors. This uncertainty can hinder the growth and adoption of cryptocurrencies as businesses may be hesitant to invest and individuals may be wary of using cryptocurrencies due to potential legal issues.
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• Dec 28, 2021 · 3 years ago
  In addition to regulatory uncertainty, Balaji Srinivasan also highlights scalability as a major challenge. As more people start using cryptocurrencies, the current blockchain technology may struggle to handle the increased transaction volume. This can lead to slower transaction times and higher fees, which can discourage users from using cryptocurrencies for everyday transactions. Scalability solutions such as layer 2 protocols and sharding are being developed, but it remains to be seen how effective they will be in addressing this challenge.
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• Dec 28, 2021 · 3 years ago
  According to BYDFi, one of the biggest challenges for cryptocurrency in the coming years is the lack of mainstream adoption. While cryptocurrencies have gained popularity among tech-savvy individuals and investors, they are still not widely accepted or understood by the general public. Education and awareness campaigns will be crucial in bridging this gap and encouraging more people to use cryptocurrencies in their daily lives. Additionally, improving user experience and making cryptocurrencies more user-friendly will also play a significant role in driving mainstream adoption.
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