Coinbase co-founder Fred Ehrsam recently appeared on the 1776 Podcast, where he was asked about the adoption of Bitcoin in the United States and international markets. While there has been a lot of noise related to merchant acceptance and use cases in developing countries, the reality is there still aren’t as many people using Bitcoin today as some expected.
Ehrsam noted that there probably aren’t that many Bitcoin users in the developing world, which is often touted as one of the technology’s major demographics. He then covered two of the current roadblocks to greater Bitcoin adoption: education and ease-of-use.
What’s Holding Back Bitcoin Adoption?
In Ehrsam’s view, the knowledge gap is what’s holding back Bitcoin at this point in time. While it’s easy for technically-savvy individuals to understand why Bitcoin is useful (or may be useful in the future), the average person on the street is still looking at the digital value-transfer system with bewilderment. Ehrsam explained:
“There’s definitely a huge knowledge gap …. There are two primary things that I think will close that gap. One is some base level of knowledge. The second is services that are built such that these people don’t really have to