Mass adoption of Bitcoin would be a hallmark that would mark the fulfilling of the vision of Satoshi Nakamoto of creating an alternative Currency that operates in a decentralized ecosystem known as Blockchain.
To this effect, Bitcoin enthusiasts have been marketing the Digital Tokens to users. On the other hand, Blockchain experts have been creating and deploying platforms such as wallets and Crypto exchanges that are central to the adoption and utilization of BTC in real-life transactions.
Many pundits speculate that 2019 would be the year that Cryptocurrencies would not only be adopted by a significant proportion of people but also main industries. However, as companies such as Fidelity- an American marketing giant- make efforts to market Cryptos, there are other innovative ideas such as offering BTC gift cards that are likely to enable Bitcoin to gain massive popularity.
Background To The Problem
Factors that have been inhibiting the growth of Bitcoin adoption are unique and diverse. Countering them is equally challenging but also possible.
The first step to offering a solution to the slow uptake of BTC and other Cryptos lies in simplifying the process of buying Digital Tokens such as BTC that is complex and likely to dissuade the average American consumer. This issue is exacerbated by the many Crypto exchange platforms that are very different from one another as well as charging different fees. With no clear standards of what constitutes an ideal exchange, many risks averse chose to keep off Cryptos altogether.
Secondly, there is a mismatch of information pertaining to the different use-cases of Cryptocurrencies. According to research, only 7% of consumers buy BTC upon learning about Bitcoin.
Lastly, there is an issue where many users are unable to connect their bank accounts to the Crypto exchange platform wallets. According to Ed Grieske, the CEO of Bitcoin Solutions, this is “frightening and risky” which discourages mass adoption of Digital Tokens.
Solution To The Problem
Bitcoin Solutions platform has developed a new solution that aims to offer Bitcoin Gift cards. The idea is to introduce Bitcoin gift cards that are accessible to prospective users as well as supported in mainstream platforms.
The new Bitcoin Gift cards have links to digital wallets which allow holders to spend BTC Tokens at all points that accept Bitcoin payments. Additionally, the holders can hold BTC for speculation on bull cycles.
The Bitcoin Gift Card Will Be Based On Blockchain
Like all other Cryptos, the Bitcoin Gift Card will be managed on a decentralized Blockchain platform to eliminate the involvement of third parties. Also known as DLT, this technology is emerging as a major platform for Smart Contracts, microtransactions, IoT, etc.
Where To Get The Gift cards
According to Grieske, Bitcoin gift cards will be available at online e-commerce sites like Amazon as well as other conventional websites.
It is important to note that the Gift Cards are designed for low-income investors as investors can load as low as $50, $100 or $200.