Introduction

Recently, more and more people have been wondering if, when, and how, crypto/blockchain will reach mainstream adoption. I'm here to free you from your doubts, voice my opinion on what needs to be done, and show some examples of projects that already reached mainstream adoption.
Whoops, that was a spoiler, wasn't it? Yes, mainstream adoption is indeed already here ;).

Please note that these are my views and you may or may not agree with them. In any case, I welcome you to start the discussion!

What is mainstream adoption?

The first thing to establish is a common ground on what mainstream adoption would entail. When I say "mainstream adoption" in this post, I use the following definition;

A product that uses crypto and/or blockchain to provide services otherwise impossible, or hard, to achieve, that is used by people/businesses without the need to know about crypto or blockchain.

How will a product reach mainstream adoption?

This is the crux of the entire thing. We tend to forget, in all our enthusiasm, that this beautiful technology needs to serve a purpose. Having an existing product, that is now using blockchain, won't reach mainstream adoption, if it can't add value.

That's what this is all about; Adding Value. A new product will only reach mainstream adoption, if it has more value than the existing version. I identify three ways in which a product can add value:

• Make the product easier to use. (i.e. needing 2 steps to reach the purpose, instead of 4)
• Make the product better to use. (i.e. making it faster)
• Solve a previously unsolved problem. (i.e. ticket scalping, or opening up a new market like NFTs)

For blockchain using products, this more than likely means they have to hide the blockchain layer from the user. It also means they shouldn't use blockchain as a gimmick, but as a way to solve a previously unsolved problem.

To summarise:

If the new product either solves an existing problem, does an existing usecase better, is easier to use than the existing product, or a combination of these three... then it is able to reach mainstream adoption.

If and when will crypto/blockchain reach mainstream adoption?

It's a bit hard to answer this, as you'll have to ask yourself the definition of "crypto/blockchain reaching mainstream adoption" when it comes to crypto/blockchain in general. If a few projects/products reach mainstream adoption, does that mean crypto/blockchain has reached mainstream adoption in general?
I personally think this is a bit of a grey area. Take the internet as example. Would you say it reached mainstream adoption? Ofcourse you would! Yet only about 60% of the world's population has access to internet.
The rise of internet didn't happen overnight either, gradually it became more and more used. I suspect the same to happen for blockchain. Firstly we'll have a few products hitting mainstream adoption, then gradually more are added until we get to a point where we could say with confidence; Yes, blockchain in general has reached mainstream adoption.

Projects that have reached mainstream adoption by adding value

Here we are, the final section of this post. What's better to drive home the point, than to provide a few examples of projects that added value in exactly the right way, reaching mainstream adoption because of it! Below projects solved an existing problem, hid the blockchain layer from the customer and made the new product easier/better to use.
I'm sure there are more projects that fit this list, feel free to mention them!

​

EvidenZ - BCDT

Fake qualifications and certificates are a growing problem. EvidenZ fixes this issue by letting institutions issue blockchain-registered certificates to course-takers.

Institutions pay with fiat to gain credits to issue certificates. Certificate receivers receive a link/QR code they can use in there CV.
BCDT is used as as an intermediary for these actions, but the users don't (need to) know about it.

Since september, TOEIC certificates are issued using EvidenZ, among other certificates.

GET Protocol - GET

Ticket scalping, lack of transparancy, lack of insight in ticket buyers (2nd hand buyers in particular. GET Protocol created a protocol that fixes these issues by using blockchain and other technologies.

GET Protocol sees 2 types of users; direct and indirect users of the protocol. Direct users are new and existing ticketeers, that can use the protocol to issue digital tickets to anything that needs a right to entrance. Indirect users are those that buy tickets using one of these integrators.
GET is used as fuel to push tickets through the protocol, but the users don't need to know about it.

GET Protocol is selling 1000s of tickets daily, using multiple integrators.

Reserve Protocol - RSR/RSV

I don't need to tell you that hyperinflation is a serious problem. Reserve Protocol provides a protocol with which stable coins can be created using a basket of digital backings to the creators liking. RSR staking is used to manage the risk and keep the stable coin stable.

RSV is their fully backed stable coin. It's used right now in Venezuela, among other countries. Reserve created an app with which you can convert your local currency to RSV, then use the app to pay. The local people are buying their groceries using this app right now.

Reserve Protocol has recently announced they will venture in more countries that battle against hyperinflation.

Verasity - VRA

The advertisement business is a non-transparant business, riddled with bots farming views. The money for ads ends up at the wrong parties. Verasity solves these issues. By using VRA as an intermediary, advertisers know the views are real views, and ad watchers receive a reward for watching the ad.

Verasity created a wallet where VRA can be purchased and sold using/for fiat. This wallet is used both by advertisers who can use the VRA as 'credits' to issue ads, as well as ad watchers that receive the VRA in this wallet simply by creating an account and watching ads.

Verasity has been busy growing their reach in the past quarter.