Growth in the financial technology sector has been stagnant. Things have evolved at a snail’s-pace. However, believe it or not, this pace is being broken by the power of the meme.
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People are still using credit cards and payment systems created in the 1950’s. They are also reliant on central banks to aid them in securing their funds. Many see this monetary “old regime” as normal. Some may even view these outdated methods and monies as the pinnacle of financial innovation.
But luckily, things are changing. Cryptocurrencies—namely Bitcoin—have been introduced as a competitor to the old regime. And it is starting to see widespread adoption.
But why has it taken so long for this change to take place?
Things have been slow for sociocultural and psychological reasons.
When people become accustomed to a cultural trend—that trend becomes ingrained. It becomes commonplace for most people. This occurs because of