A Case for Making the Blockchain/Crypto Terminology more Accessible

For us, crypto-lovers, the possibilities of the new emerging technologies are always exciting news. We wake up in the morning, we start scrolling on our social platform of choice and we find out what happened overnight to our favorite coins, what new ICOs have been launched and so on. We dive into endless conversations on what’s the future of blockchain but we end up not caring about what happens now. And at the end of the day we wonder why there isn’t mass adoption for our beloved technology.

My answer for you is: JARGON. This is what keeps us from convincing folks crypto is real and it’s not something to be feared. HODL, ASIC, Altcoins, ICO, STO WHAT? We live in a world of acronyms that don’t make sense to 90% of the world’s population. And we built this system because we want to feel special, because we want to be able to recognize one another and to hide behind complicated terms. Well, we should get rid of the labelling. It’s not that the technology behind it is too complicated for crypto illiterates. How many people can actually grasp the monetary system behind FIAT. Who does the printing, based on what, how is it distributed, how is it evaluated? These are complex questions only a few know the answer to and yet, people deal with money every single day. We don’t need to understand everything behind crypto to be able to adopt it, but we need to focus less on labelling and acronyms.

Then, of course, we have the problem with the very many blockchain-based projects that can improve our lives a lot but whose presentations are really not that appealing to normal people and investors. There aren’t that many investors out there who have the time to always make sure the technology is sound and the progress is real. This is why we should try to simplify things. Using less-fancy words in presentations won’t make your project less valuable, on the contrary. As Einstein put it

Everything should be made as simple as possible, but not simpler.

At Daicore we are trying to level the field between the investor and the business. We want to present the projects we list in a simpler way, so that everybody gets it. Attracting more people to the fantastic blockchain universe means breaking the bubble. We need to be more open and we need to be able to explain what we do to anybody.

A Case for Making the Blockchain/Crypto Terminology more Accessible was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.