Earnity, a social-first crypto platform and marketplace led by visionaries Dan Schatt and Domenic Carosa, aims to help cryptocurrency users succeed. And a massive part of achieving this success lies in information and education. This includes learning about the many aspects of the fintech industry, including mass adoption.
The Mass Adoption Discourse
When technology or innovation is adopted on a large scale, it is called mass adoption. While there are many benefits to mass adoption, there are also some drawbacks that should be considered.
The Pros of Mass Adoption Include
- Increased usage and awareness: When many people adopt a technology or innovation, its usage and awareness increase exponentially. This means more people will become familiar with the technology, which can help propel it further into the mainstream.
- Increased efficiency and productivity: Mass adoption often leads to increased efficiency and productivity as people figure out how to best use the new technology or innovation. For example, when the internet was first adopted, people could communicate and do business more efficiently.
- Increased innovation: The mass adoption of a technology or innovation often leads to more innovative ideas and endeavors. For example, the iPhone was first introduced in 2007, and since then, countless new apps have been developed as the smartphone evolved.
The Cons of Mass Adoption Include
- Decreased privacy: The mass adoption of a technology or innovation can lead to a loss of privacy. For example, when the internet was first adopted, people could access information about others that they had never been able to before.
- Increased vulnerability: More and more people using technology or innovation can lead to an increase in exposure. For example, countless cases of hacking and cybercrimes were reported when the internet was first adopted, and more people were using it.
- Decreased satisfaction: With the mass adoption of a technology or innovation comes the likelihood of users becoming desensitized to it. An example would be how people were mesmerized when the internet was first adopted. Over time, people have become desensitized to the internet and are less impressed.
In conclusion, while mass adoption has many benefits, it also has some drawbacks that should be considered. Earnity’s Dan Schatt and Domenic Carosa wish to see this mass adoption as it will make the world a more financially free place.