Following is an interesting opinion written by @bumblebee2018, a Korean community member and has been translated into English (word to word). Please feel free to provide your comments in English, which will then be translated into Korean to the Korean category on the Forum. In this way, we can facilate interesting conversations around ADA/Cardano between our global communities!
A Cryptocurrency as a Stock rather than a Currency or a Token.
Suppose a stock investor is asked to spend his/her stock share for his/her daily life spending instead of cash.
Even if this stock-spending system were adopted, still people would prefer to spend cash.
Majority of people would like to keep their stock shares for the long-term investment and spend cash for their daily spending.
How people feel about cryptocurrencies might be similar to their feelings on stock shares.
Their curiosity might lead them to spend some of their cryptocurrencies in a store, but generally, it is not easy to attract people to spend cryptocurrencies outside the blockchain.
However, under the condition of dramatically changing value, there arises the possibility of a coin to be spent.
Who would like to spend 10 ADA for a cup of coffee expecting its value to rise from 300 KRW to 400 KRW tomorrow?
In the case of a casino, however, people would gladly spend 100 ADA hoping to be paid back with 10,000 ADA by hitting the slots.
This is why it is more important and better to make a partnership with casino industry than with general banking services such as card issue or the ATM installation.
When forming a partnership with a casino, not only casino itself, but also the peripheral business units can all become our counter partners. I have no doubt the shops and businesses around the casino such as pawnshops, used-car dealer shops, car hire companies, restaurants, and accommodations won’t lose their business opportunity from the tourists who visit the casino holding ADA. If I were a shop owner there, I would immediately adopt ADA payment system for my shop.
It would be easier to attract tourists to use ADA for the payment than to attract ordinary shoppers in a grocery store. Suppose a gambler holding ADA sells his car to refill his empty pocket. Would he prefer to receive cash than ADA? Definitely not.
Suppose another tourist who earn 10,000 ADA only with 100 ADA by hitting the slots go out for a cup of coffee, the probability of payment preference with ADA will rise if the coffee shop is equipped with ADA payment system.
If ADA aims to take be a legal tender, the casino industry is the must-have market.