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Known in mainstream media as a young �Bitcoin millionaire,� within the crypto and blockchain industry, Jeremy Gardner is a known more for what he does than how much he makes.
As a serial blockchain entrepreneur, educator and investor, Gardner has founded the global educational nonprofit the Blockchain Education Network and co-founded the blockchain-based prediction platform Augur. Most recently, he launched his own impact investing fund called Ausum Ventures.
Breaking down mass adoption
Olivia Capozzalo: Can you walk me through what mass adoption is � not from the tech or building side of things, but from the side of regular people? What does it look like? What does it mean?
Jeremy Gardner: So, my point during the panel discussion was that mass adoption has nothing to do with education. Mass adoption has to do with building products that people want. Mass adoption happens no other way.
You don�t suddenly educate hundreds of millions or billions of people on the virtues of decentralization and libertarian values and then expect that it is going to make them want to use Bitcoin or use blockchain-based applications.
No. What you�re going to do is create tools that people want in their lives that they don�t have today.
The reason why Bitcoin was initially adopted � the reason why Bitcoin and blockchain technology exists today � is that it exists for primarily one reason and one reason only. People don�t like to say this, but it�s because of the dark markets.
If there was no Silk Road, if there was no reason for people to actually buy and use Bitcoin to buy drugs online, I�m not sure it would exist today. I think otherwise it�s just a libertarian, cypherpunk thought experiment.
It was only once individuals in the developed world actually had a purpose for acquiring these crypto tokens to exchange in commerce that Bitcoin achieved meaningful value � once people understood that Bitcoin allowed people to do something they could not do before.
There are other examples in Cyprus, Venezuela, and Zimbabwe � places that have had really awful hyperinflation � places like India with demonetization, China with capital control, South Korea with capital controls.
The use cases have emerged, but initially, you know, initially the use case of Bitcoin was buying drugs on the internet, and that was great. But it didn�t actually have to do with the underlying ideological ethos that its earlier adherents had been attracted to.
And that�s going to be true with all blockchain technology. We�re simply going to build tools that people want in order to get adoption. No ideology, no education about the virtues.
We could try to act like missionaries and spread the word like a religion, but it�s not the best way to do things. As long as we build tech that people want, they will come, and they will adopt it.
This post has been edited by REENAFX: Sep 21 2018, 03:06 PM