Bitcoin Leaders Discuss Challenges and Opportunities in Global Adoption
At the Plan B conference, Bitcoin experts discussed the challenges and opportunities of increasing Bitcoin adoption worldwide. The panel included Luis Buenaventura of TerraMidPhoenix, Paulo Renelle of NamX Payments AG, and Dayan Petrov of Nakamoto Card. One key issue highlighted was the difficulty of onboarding new users and merchants in diverse cultural contexts. For instance, despite El Salvador adopting Bitcoin as legal tender, there are still obstacles in getting merchants to accept Bitcoin payments.
In El Salvador, it’s always something missing when it comes to setting up merchants for Bitcoin payments.
Luis Buenaventura
We often encounter situations where employees are afraid to interact with Bitcoin, even though they have a sticker saying that it is accepted here.
Dayan Petrov
The panelists agreed that education plays a crucial role and emphasized the need for user-friendly consumer applications rather than complex technologies.
We can’t expect people with other jobs to fully understand the technology. We need to make it simple for them.
Dayan Petrov
Petrov also shared his company’s contactless Bitcoin payment card as an example of a consumer-focused approach. Other topics discussed included competition between cities adopting Bitcoin and collaboration within the Bitcoin industry.
Insights into Tackling Adoption Challenges
This panel discussion shed light on how Bitcoin leaders are addressing adoption barriers across various markets and cultures. The consensus was that prioritizing user-friendly applications and education is crucial to mainstreaming Bitcoin globally.
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