Bitcoin

Mass adoption depends on narrowing the digital divide

The head of data policy and blockchain at the World Economic Forum, Sheila Warren says that people who have abandoned or been excluded from traditional financial systems are the most likely to drive mass adoption.

Warren spoke to moderator Shira Frank at the Unitize conference on July 8 about the path to mass adoption. She said that Bridging the digital divide is key to making blockchain technology mainstream.

Screenshot of Unitize

Mass adoption depends on narrowing the digital divide
Mass adoption depends on narrowing the digital divide

Unify screenshot

According to Warren Many powerful financial institutions do not benefit society, but serve a “small part” of it. He said that someone from the blockchain industry told him they believed it 20% of the population will never have access to digital currencies. However, the WEF official said that considering this percentage, as well as the others that make up 80%, is the key to mass adoption:

“We have to look at what the lowest fruit is actually hanging there. Oddly enough, it is people who have been excluded from traditional systems for some reason. They are the most difficult to build in many ways, but they are the people who are most willing to settle in or try something new […] If you don’t connect these people, you won’t know what is needed. “

Go forward

As for the road to popular blockchain adoption, Warren believes there won’t be a “Killer Silver Bullet App” on the road to mass adoption, but hopes that there will be enough coalition formation within the ecosystems to bring about gradual changes.

“Changes take a long time,” he said, comparing the path of mass adoption to the social justice movement in the United States.. “It’s a step forward and two steps back most of the time.”

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