From careful observation, it's becoming clear that it may be hard for crypto to go mainstream without the involvement of the payment sector. Whenever we talk about cryptocurrency payment, we quickly want to adopt Bitcoin. I think we are all getting it wrong here considering Bitcoin's high transaction fee and relatively longer confirmation time compared to other crypto stablecoins or other faster crypto assets.
My personal take, however, is that, for crypto to go mainstream and the impact felt, the focus needs to pivot a bit away from Bitcoin. Yes, it is the first crypto, but at its present state, it definitely cannot fit into every area. This is my opinion, if you have something contrary, I will definitely love to hear them.
Although we are moving towards this goal but to speed the process up, the potent stimulants include:
Regulatory approval of cryptocurrencies all across the world.
Investor and user condfidence in this tech.
Easy to use applications that make payments as easy as 1 or 2 clicks.
Ease of business and mass awareness to businesses and retailers about crypto and crypto payments.
No or low crypto taxation and simple rules to fill crypto tax.
Easy to use interfaces and member accounts. People do not like complex or technical looking paltforms so simplest apps needs to come up so that common man finds it easy to use.