After doing my research, I found that as of August 2018, there were over 1,600 cryptocurrencies. Presently, I'm sure that there's a great increase in the number of cryptocurrencies. This is because almost every time, new cryptocurrencies are created. With this and some other improvements, it is obvious that the Blockchain technology is really spreading. However, a lot of people have little or no idea about the Crypto world.
I was really surprised when I realised that only about 8% of Americans own Crypto money, and they are mostly men.
Some say that the Blockchain technology isn't really going as far as it should because most users don't really confide in others.
What do you think is the reason why the Blockchain technology isn't adopted as fast as we suppose it should?
First there are lot more than 1600 cryptocurrencies. Only coinmarketcap is showing 2904 cryptocurrencies and remember that coinmarketcap only list the currencies which have some value. There are thousand more which are not listed on it as they did not fulfil the criteria.
Now comes the adaption part. Crypto is growing at a rapid rate but the reason it is not adopted yet is that the governments do not want bitcoin to be adopted. They do not want to lose the control over the financial system and hence they always speck negative about it.
When I said 1,600 cryptocurrencies, I was referring to last year August statistics. However, if the other cryptocurrencies were actually created in the space of 1 year (august 2018 - now), then that is obviously a massive adoption of the Blockchain technology.