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Opinion

Laying the foundation for mass adoption with Ethos

By James Tennant

July 2018

3 Min Read

Crowd of people walking towards Ethos logo

Mass adoption of cryptocurrencies – it's the thing we're all hoping for, right?

Or at least it is for those of us that believe in cryptocurrencies and the potential for them to create a fairer world.

However, the question has been, and remains to be, how does mass adoption occur? What needs to happen to make that a reality?

Well, a few things, really. But, in our opinion what we need more than anything else are products and services that can be used in the “real world” – very few of which exist at the time of writing.

There are currently billions of people sat on the sidelines, waiting for something to come along and give them a reason to get in the game. They want to see something tangible, something that's going to make it easier, more affordable and/or more secure to do everyday things.

Whether that's booking a hotel room, buying insurance, easily accepting cryptocurrencies as payment, as well as paying for stuff with them, or being able to invest in cryptocurrencies more easily - we need to see actual, fully realised use cases before we can hope to achieve mass adoption.

Enter Ethos.

With the recent announcement that its hotly anticipated Universal Wallet app is now live for Android and Apple users all over the world, Ethos is one company that's helping to drag cryptocurrency ever closer to mass adoption.

How? Well, when you take a deeper look at the company, particularly at its ambitious and exciting long-term plans (outlined here if you scroll down a bit and in more depth here), it becomes apparent that while the release of the app in its current iteration is but one small step for Ethos, the fact that the Ethos “project” is now well underway actually makes this release a giant leap for the whole cryptocurrency space.

Why? Because, in its own words, Ethos's mission is “to make the daunting cryptocurrency market accessible to everyone, accelerate adoption of blockchain technology and democratize ownership of cryptocurrencies.”

The mission isn't to create a product that will make money based on the current cryptocurrency landscape, but rather create something that will advance and benefit the whole space (and benefit its users too) over the long term. And that mission is no longer just an idea. It's a living, breathing product that's taking its first steps in the real world – exciting times indeed.

The app itself is very easy to use and beautiful to look at. Even the least tech-savvy person will be able to create their own highly secure crypto wallet in minutes and explore the app and its useful features with just a few taps (including a really cool community-led coin rating feature that will help newbies understand more about the myriad of coins and tokens out there).

Creating a wallet and a unique Smartkey on the Ethos app will allow users to be able to hold full custodianship of all of their crypto coins and tokens without relying on any other platforms.

And, with each new feature that gets added in the future, such as cold storage options, portfolio tracking, cryptocurrency research and crypto analysis, Ethos will move ever closer to its goal of creating an all-in-one option that is as valuable and useful for crypto enthusiasts as it is educational, engaging and easy-to-use for the crypto curious – making “the daunting cryptocurrency market accessible to everyone”.

And, with those future features in mind, Ethos also recently announced a partnership with merchant payment processing service, Payroc.

Ethos said, “[We are] excited to announce our partnership with Payroc. Together, we’ll create a consumer-to-merchant crypto payments service, integrated with the Universal Wallet. Imagine? A straightforward “Pay with Crypto” button on websites is on the horizon.”

What that means for Ethos Universal Wallet users is that they will be able to pay securely directly from their mobile devices in cryptocurrencies. It's features like this, ones that make it easy to use crypto, that will have a big impact on the speed of mass adoption.

If you want to read more about this partnership, you'll find additional information here.

So, go on, download the app now and let us know what you think in the comments below.

Apple user? You'll find the app here.

Android? You'll find the app here.