We really are all on the lookout for real use cases when it comes to the mere idea of Blockchain. Thousands of start-ups are launching different platforms with an overall aim to try and disrupt industries. They also want to try and keep it decentralised as well. Some people have even become wealthy as a result. When it comes down to it however, a lot of us are still choosing to buy their morning coffee with cash instead of a Bitcoin payment. Cryptocurrency, even though it is way better than the governmental backed counterpart is yet to gain any standard of adoption. Vendors really do have very little incentive to try and spend money on payment solutions and this is especially the case when you consider the fact there is still a user base who are willing to actually use it as a service. Crypto really is not accepted as a currency and this is even the case when you look at earnest efforts from business leaders. Of course, there are attempts being made to try and integrate it with some real-world products and services have in fact fizzled. Companies are trying to issue cryptocurrency based debit cards and even credit cards, but the enthusiasm really did disappear when Visa came out to say that they are not going to support these cards at all. Monero also has their own XMR debit card and the desire to have something as simple as this is really reasonable. People love what they are actually familiar with, and it is incredible to see how all of this is going to come around.
Cryptocurrency holders really are only a small portion of the population, and for that reason, any cryptocurrency solution is limited by the size of the overall market. People also need the desire to spend their currency as well. A lot of crypto holders still happen to treat their currency like it is an asset rather than treating it like a currency. The market is relatively large to say the least and this is around $300 billion. There really aren’t a lot of active participants as of right now. Of course, volatility is also a huge risk. Why would you go out and buy a coffee with your cryptocurrency if it may raise by 10% in the next hour? The value of the coffee won’t rise, but the value of the currency you use might.
So to get some answers here, it’s time to have a chat with Guy Melamed. He is the CEO of Zeex, which is a blockchain payment method. This helps people to exchange their tokens in real-life for gift-cards. This means that it has the potential to become a real-use case. Vendors will use the system because the gift cards all happen to be prepaid and the chance of the breakage is very high. The consumers approach to it would mean that brands such as Starbucks can then accept cryptocurrency.
Guy Melamed has come out to say that you need to connect holders of cryptocurrency directly to various products and services. This is the only way that it will ever reach mass adoption. Melamed has also stated that they use fraud prevention technology and even smart contracts but that is behind the scenes. Users really do need to have a solution that looks like Candy Crush rather than a cock pit. Increasing the use of crypto in real life will help the market to grow and it will also help to keep it stable as well. As you expand things even further, it will also become clear that vendors will be able to use their very own blockchain-based gift card and this means that everyone from writers to welders will be able to get paid, and pay in return. Melamed has stated that rather than adding another step in the process and asking users to deal with a completely new system, Zeex is focusing on piggybacking on the existing structure. They are going to give users the chance to shop with brands, including Amazon and this is very interesting to say the least.