The people who stand to benefit most from the mass adoption of cryptocurrencies have a major challenge understanding what exactly that is in simple terms so they can intelligently answer the age-old question ~ What's in it for me?
So let's take it slow and break down the term. In that way, each individual profoundly impacted by the newest innovation of money can answer for themselves what mass adoption of cryptocurrencies means to them. They can be fully persuaded in their own mind and behave according to their own best interests.
Money in all forms is a medium of exchange widely accepted collectively which is mass adoption or critical mass. It is academically defined loosely by economists as what people are willing to work for and use to buy goods and services.
It can be a commodity with intrinsic value i.e. jewelry made from precious metals like gold and silver embedded with precious stones like diamonds, emeralds, rubies, pearls, etc. It can be anything representative of money, acquired in exchange for something of comparable value which is numerically equivocated quantitatively in cash, which is fiat pieces of paper or public obligation paper deemed money with lawful utility value by government order backed by good-faith credit.
The Holy Bible scriptures sum up the significance of money as the most important source to fulfill all basic necessities of happiness, health, and wealth for life... Money answereth all things! ~ ECCLESIASTES chapter 10 [LJCV]
However, money is NOT currency if it does NOT have a function 4 ~ medium of exchange, store value, medium of exchange, and standard of deferred payment. Specifically, because the currency is the systemic use of money issued into general circulation fulfilling the supply and demand of the critical mass or mass adoption.
Furthermore, cryptography is the art of writing and solving a code. Therefore, cryptocurrency is a digital currency with encryption technology that enables systemic regulation and generation of denominated monetary units for identifiable verification of fund transactions operating independently of a central banking authority. Additionally, the independent operation of cryptocurrency is facilitated by blockchain technology, which is an operating system of recording transactions of encrypted digital currency.
Furthermore, the specific blockchain facilitating the operation system of a cryptocurrency maintains recorded transactions across a widespread computerized peer-to-peer linked network. The blockchain's structural design makes the operational record transactions using the cryptocurrency a decentralized system and facilitates the privatization of personal wealth creation that is beyond restriction and confiscation by government authorities.
So then, the technological innovation of money has created a new asset class of personal wealth called cryptocurrency. The critical mass has already been achieved to accelerate exponentially the rate of adoption or speed at which the world's social-economic systems accept cryptocurrency for payment of goods and services as well as all other wealth assets.
The mass adoption of cryptocurrencies is here... There are outrageous sums of cryptocurrency presently transacting worldwide in as little as 3-seconds! The most telling evidence is the humungous quantitative sums in the billions of dollar fund transactions being settled in cryptocurrencies.
From an increasing number of employers that fund employee payrolls to handheld mobile devices that pay consumer retail purchases of goods and services ~ transactions are being paid in full using cryptocurrency at an alarming rate!
That said, we are happy to inform everyone via this post from one of the world's biggest crypto powered blogging platforms the mass adoption of cryptocurrencies is here!
I hope everything you read in this post is sufficient enough for you to answer the question right now ~ WHAT DOES MASS ADOPTION OF CRYPTOCURRENCIES MEAN TO YOU?