Can people trust Cardano’s blockchain?

The adoption of cryptocurrencies will be generally difficult and one of the reasons is that it requires a change of people's mindset. Surprisingly, adoption is about trust. Are we able to stop trusting people and start trusting blockchain technology more?

Building trust in blockchain will be easier in Africa.

Is it easy to replace fiat money?

There are two major obstacles that prevent cryptocurrency adoption. These are insufficient technological maturity and people’s interest in alternatives. We are able to overcome technological difficulties and Cardano is backed by a really strong team. We believe that the Cardano blockchain will be ready for mass adoption. Having the best-class technology does not necessarily mean that it will be heavily used by people. Let’s explore this topic a bit more.

Banks and states stand behind fiat money and there is a strong social contract between them and people. People are used to using fiat money and know that the legal system can help to resolve any issue. The system works for many decades and people understand it and know how to use it. Well, not everybody knows how the economy really works, what inflation means for their wealth, or that economic bubbles and crises are inevitable parts of the modern economy. People usually do not give much attention to these topics or blindly trust financial advisors. What is worse, they…