Author Archive: Jackie Steeves

The Challenges of Integrating Cryptocurrency into Our Daily Lives

 

It is fantastic to take the time and be positive about cryptocurrency and the blockchain space. It happens all too often where people are ready to jump on the negative side and crucify the entire industry because of some minor hiccups or even worse, without any knowledge at all. One question though, which pops up again and again is how to best integrate crypto into our daily lives.

What Exactly are the Challenges?

There are a few. One of the major issues is transaction speeds and the ability of different networks to handle high volume transactions well. At present, most networks cannot come close to matching speeds or volumes handled by the likes of major credit card companies. This is a major issue which greatly inhibits the adoption of many currencies for daily use.

That said, speeds are improving. This is evident from the likes of XRP, where, even though the project itself causes stern debate within the community, the network can still handle large volume transactions in a very speedy time when compared to other major cryptos. Still though, more progress is required.

Transaction Cost

Another key element when evaluating cryptocurrency prior to investment is the transaction fees which are associated. With the likes of Bitcoin and Ethereum, these have managed to increase quite significantly as the networks have become busier. This represents another big issue when it comes to regular use. How we can best reduce these costs is still a matter being debated. Currencies such as EOS though are beginning to shift the paradigm positively in this respect.

Market Volatility

This is a major concern among most users, especially those who wish to re-convert their earned cryptocurrency into fiat. Sure, currency values in every nation fluctuate, crypto though does have a tendency to move faster and more frequently. To solve this issue is complex and perhaps requires an economy which is solely based on crypto, or some type of assured backing to keep the market balanced and consumer confidence steady to avoid panic.

Should I Hire a Marketing Manager for my ICO?

With so many ICOs out there trying to capture the attentions of investors, it is very important that those behind the projects do everything they can to make them stand out. This means there is an inevitably huge push on marketing. To enact such dedication, the hiring of a professional really is crucial. That said, why should you look to hire a marketing manager or agency to assist your project? – Here are a few reasons:

Cost vs Reward

When considering this choice, you must think how much you are willing to allocate in terms of budget. This means, how much of the budget you are willing to dedicate to marketing as a whole for the project, and of this amount, how much you can set aside for a marketing manager. ICOs in the current climate require skilled marketing more than ever, and it is not uncommon to see projects allocate over half of their funds to marketing. If you are confident of success, then the salary of a skilled marketing manager will repay its cost multiple times over.

Time and Expertise

Time management is essential in any project. There are so many things to do and simply not enough time to get them done. This means you have to be smart with your planning and allocation of duties. Marketing is a time intensive activity which should ideally be left in the full-time care of a professional to allow you to focus on other areas.

Reputation

Reputation is a big talking point in the ICO world these days, with many accusations that influential platform members from the likes of ICOBench have been distributing their highly weighted “expert” ratings to projects in exchange for payment. This is unethical to say the least. A marketing manager can add a tangible layer of trust among your team which will enhance the overall value the investor sees in the projects. Again, this should ultimately lead to a more successful raise of funds.