What ahead of us
Most people will probably not say goodbye to governments and start living in a new decentralized world. A more realistic scenario is that governments will adopt technology when they are technologically ready for it. It means that transaction fees will not fluctuate from pennies to tens of dollars, smart contract technology will be reliable and secure, second layer solutions will be trusted and adopted by users, there will be privacy features and other things. In our opinion, Cardano is a project that will have everything we need for mass adoption. Not only from a technological point of view but also from an adoption point of view. The teams behind Cardano communicate with governments, regulators, and many other institutions. Governments of poor countries are interested in blockchain technologies and collaborate with Cardano teams. The adoption of blockchain technologies can come from the bottom up. On the other hand, creating a financial infrastructure in cooperation with governments is a smart approach in poor countries.
The potential of smart contract technology is still underestimated and the qualities can be overshadowed by many failed ICO projects and many problems at DeFi. ICO and DeFi are good concepts in general, but like any technology, people can misuse it. We are convinced that technology will have a greater impact on society than a decentralized network of transactions. Smart contract technology will allow us to create programmable trust services. In the real world, there are still many centralized intermediaries. Smart contract technology will allow us to create alternatives that can be faster, cheaper, safer, and more reliable. It's smart to make current processes more effective and people will require more decentralized services with more blockchain adoption anyway. We definitely do not believe that smart contract technology is a blind offshoot of blockchain technology. We are confident that the opposite is true and smart contract technology will play an important role in the adoption of decentralized technologies.
Cryptocurrencies need one more thing and that is adoption. It is difficult to predict the future and estimate the routes of adoption. So we don't even know what features we will need and how long it will take for governments to adopt decentralized services. We can assume that developing countries will adopt blockchain earlier than developed countries. We believe that Cardano will be successful in poor countries as it is well prepared for that from a technological point of view and the teams behind Cardano already communicate with these countries. When cryptocurrencies go mainstream, we assume there will be a higher demand for the use of smart contracts and Cardano will be ready to meet the demand. The old infrastructures will have to deal with the new decentralized infrastructures and some form of merger is the most likely scenario. We expect the next decade to be a very interesting one when it comes to adopting decentralized technologies and we are looking forward to it.
/ Extract.
https://cardanians.io/en/cardano-will-be-needed-when-crypto-goes-mainstream-123
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