Digital currency: how to attract the public

nnnThe author of this article is the CEO of, through the analysis of the future of digital money, pointed out that through the digital money reward program can show the value of the technology and ultimately promote the adoption of this new currency. In view of the current market situation, he is full of confidence in the acceptance of digital money, that the ultimate goal of the development of digital money is to replace the French currency. But it is undeniable that its development there are still many problems waiting to explore and solve the end result is not yet conclusive.n
nnTranslated by: Inan
nLast year, I was looking at digital money from the point of view of the user experience before the bitter currency was soaring.n
nThe article I published at CoinDesk at that time elaborated a simple central idea that the whole bitcover project was conceived, designed, constructed and published as a P2P value exchange system. It should not be just a single asset class or a bank’s information system.n
nA year later, we are experiencing the first tokens (ICO) boom. ICO is another use case for user experience, a significant development of digital money in recent years. ICO (I prefer to call it tokens) is an important engine for market growth, but they do not meet our ultimate goal – to make the public accept digital money.n
nLooking back at the pastn
nPrior to Jobs and Wozniak, computers were active in engineers, amateurs, big companies and government agencies. Users interact with these machines as the main framework, that is, the command line, resulting in a low adoption rate.n
nHowever, as Neal Stephenson pointed out, people who manipulate simple cursors and text interfaces later developed tools to make the computer on a large scale. The command line is relatively simple, but with the development of the computer, there is a layer of another layer of abstract things.n
nThis is a huge leap for our generation. Can the screen like the arcade game appear as we want the picture? Can “save” what we are doing, come back and continue? Can you put something on disk and put it on another computer? Incredible!n
nAfter we are attracted, we begin to learn the knowledge we need to get more inspiration from experience. We began to vaguely understand the meaning of kb. We “probably know” how much content can be stored on the floppy disk.n
nSome of us started learning how to make simple animations and games. The computer was originally a toy, then a tool.n
nI think that in the digital money field, we are still in the evolutionary stage, just as the command line gives way to other wider new tools. Now, the wallet address, private key, cold storage and other confusing elements are equivalent to the command line.n
nI wrote a year ago that I thought we needed Steve Jobs in this area, but there was no such person at the moment.n
nDigital currency is not MacOSn
nEven if ordinary people are willing to learn the relevant knowledge, know how to use the exchange, the identity and currency exchange rate is accustomed to, and accept the currency trading required waiting time, but there is still a lot of people to respect the problem, that risk.n
nModern operating systems greatly reduce the risk. Every program we use has some kind of backup system, and now we rarely lose working files. But the use of digital money is still the risk of losing everything.n
nAt least at the beginning, the best way to deal with risk is to try to eliminate the risk. We must not treat digital money like a competitive currency, at least not now. On the contrary, we must regard it as a reward, a new thing.n
nWe must allow people to buy it, but also allow people to non-monetary capital of time, energy and attention to get. Do not force people to buy in French. Instead, let them earn digital money.n
nUser priority moden
nSome companies have embarked on a reward-oriented road, such as Steemit, Brave, Bitwalking, Metal and so on.n
nThis trend will continue to grow in the coming months and in the next few years. They will reward people for some kind of behavior, Steemit reward to create and participate in digital content, Bitwalking reward walking, Brave will raise the reward a level: as long as the use of a safe browser and interactive and attention can be rewarded.n
nMetal will reward all redemption, sending and spending.n
nAll of which are trying to achieve a goal: they want to issue their own digital currency in the real world has become valuable, as a set of specific use cases around the lifeblood of the new economy.n
nThe success of these products depends on the ability to eventually lead to the public through the introduction of incentives.n
nBut the last step requires the user to go from the reward to truly accept the digital currency. In view of the recent price trend, my devout believers are confident of the realization of this goal.n
nHaving said that, I still have a place to hesitate. While all of these solutions have made progress on the complexities of adoption, they are advancing new things and blurring the issue of currency exchange. It can use the currency to reflect the value of the new currency, but even through the efforts to get the currency is also facing the risk of losing credibility and endurance.n
nPeople will always worry that their holdings of digital currency will depreciate, such as the value of $ 398 a day of the currency becomes worthless, or in an hour to $ 118.n
nOf course, we may be at the beginning of the collapse of the legal currency is also ignorant, because the market value of digital money in the rapid rise. This may even benefit the entire system. But even if the digital currency replaces the currency we use, the success will also be the most stable digital currency, not the most speculative potential or the most interesting application.n
nWhen the digital money into the daily life of most people, we “win”. People will eventually realize that the currency they are familiar with is also unstable, their purchasing power is constantly changing, and that the digital currency has many other advantages. Simply put, when the digital currency is more stable, people will use the digital currency, in order to avoid the outbreak of the crisis when the value of the loss of money.n
nBefore that, it is hard to say what we have achieved, but our goal is to transfer the belief in the currency to the digital currency.n
nFor me, the best way to achieve this shift is to make people familiar and reward the way and focus on this new thing, and reduce the risk and people’s concerns, so that it can use digital money in daily life.n

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