The crypto has been around since 2009, but it has been slow to achieve mass adoption. For analysts, the massive adoption of this technology is delayed by the fact that all the conditions are not met to convince a greater number of users. Recently, during an interview with Scott Melker, Kevin O’Leary from Shark Tank presented 3 key elements for wide adoption.
Easier to use wallets
In his interview with strategist Scott Melker, Kevin O’Leary has explained how to get 1 billion people to invest in crypto. The top executive nicknamed Mr. Wonderful indicated that improving digital wallets is essential for mass adoption of crypto technology. According to him, current wallets are far from easy to use.
“The wallet has to work, whether you are decentralized or centralized (…) Unfortunately, the majority of wallets are crap. They are not sure. They are difficult to use“, hammered Kevin O’Leary.
Mr. Wonderful explained that it is difficult for beginners to get into crypto wallets. He assures : “We always start with 250 dollars and lose them immediately. You get scammed“.
Crypto security and regulation
For O’Leary, the second essential condition for the wide adoption of cryptos is security. The high frame calls for a strengthening global space security crypto. He explains that this is key to getting consumers to trust cryptos as much as traditional assets.
“We need security. You need to have much better security when hoarding assets, even if it’s just stablecoins“, he specified. He recalled that companies like Schwab, Fidelity and Interactive Brokers have solved the problem related to security. As a result, consumers have full confidence in them to build a portfolio and invest part of their savings.
Mr. Wonderful then adds: “We need to solve this problem in Web3. You must feel there is security where your assets are held“. “Finally, and just to support the other two points, we need regulation“, he concluded.
According to Kevin O’Leary of Shark Tank, there is a need to improve digital wallets, strengthen security in the new industry and regulate it to achieve mass adoption of digital currencies. The top executive argues that regulation is a must to get to 1 billion different crypto users.
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