The Elephant in the Room: Until Crypto provides utility beyond the crypto world in day-to-day usage, it will not be able to go mainstream.

This is the Elephant in the Room.

We complain and criticise about the fiat model. Sure, it has its flaws, control, inflation etc etc. But it provides a system, albeit broken, for people to have access to goods and services, which is what we really need at the end of the day. Not insurance, loans, savings, lawyers. We just food, lodging, clothes, medicine, family, friends, things to support our interaction, entertainment etc.

Fiat is the current flawed grease that oils the whole system, that keeps cogs rolling.

Crypto can replace that and better. But it currently is not that yet.

Defi bros will chant the mantra "we have thousands of apps" but most of the thousands of apps are still self-serving, insular within the crypto world at the moment. The few coins/tokens like bitcoin via lightning, eth, litecoin gives limited access to goods and services in the real world outside of crypto. That is insufficient.

Until the average person can do things with crypto beyond crypto itself, crypto will not be mainstream as yet.

Good news is, it also means we are early. Bad news is, this "early" phase is a double edge sword. It also means crypto is still not matured enough for adoption and if this drags on too long, may well kill the interest and crypto get displaced by something else.

So what will be the missing block? Will it simply be adoption of crypto for widespread access to goods and services? Or what will be the killer app around the corner? What do you think?

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