The crypto ecosystem has developed rapidly in recent years (since 2009) since the creation of Bitcoin. Much faster than most people can learn and adapt to change.
Generations born before the 1990s, in the last century, Generation X or the Baby Boom, are not digital unlike the (next) generations, millennial and centennial.
Who can acquire cryptocurrencies today?
Of course, the ones who understand technology and also have income, money, and they are not exactly centennials, very young generation but most adapted to technology.
The banking system is hundreds of years old, firmly rooted in social culture. Its function is to provide financial services, its intention is to keep its clients captive.
Thus society accepted the submission of its hypnotic help, relegating it to be financially independent.
Blockchain technology is making its way, with a few innovators and visionaries who have understood a concept deeper than the digital evolution itself, and that is what it brings, being their own banks.
The way in which mass adoption will happen is through banks.
Banks have already seen the business of cryptoeconomics.
The only way for financial institutions, regulated by Central Banks, to access the crypto market is with ecosystem regulations.
Most people do not understand the technology and need to have their operations simplified. They don’t know and don’t want to be their own bank, they don’t want to have that responsibility.
Banks will be “tomorrow” the (crytpo) exchanges of “today”.
This will mean that the banks will have an advantage over today’s exchanges, as they have millions of customers and the exchanges only have a few innovative nerds, and will not be able to compete easily. To avoid their disappearance they will have to be authorised by governments to become banks as well. Not everyone will succeed.
What will be the monetary vehicle of cryptobanks?
They will have the stablecoins. Customers will be able to exchange legal tender currencies (issued by Central Banks) for stablecoins and then for free quoted cryptosystems.
Banks will have their own stablecoin. Exchanges today have it for their trade.
Stablecoins are cryptocurrencies to fiat quotation.
In emerging economies there are many people who are unbanked, but have access to mobile devices with internet connection, and this is how crypto-banks will partially solve their inclusion.
All this without taking into account that banks have the main and most important customer, the State.
Therefore, the next stage is the State’s immersion in the world of cryptoeconomics.
The CBDCs (digital coins issued by the Central Banks) will enter the scene, with the imposition of use, ending up with cash and thus configuring the massive adoption of cryptoeconomics.
Of course it is impossible to predict the timing of this evolution towards cryptoeconomics, but it is not impossible to predict that it will happen.