One of the criticisms levelled against Bitcoin and cryptocurrencies is the complexity of the user experience. Whilst this isn’t an issue for many, those who are perhaps not as technologically minded can find this difficult. When speaking to my parents about Bitcoin, they have a sense of fear that they will never understand how to use it. For children nowadays, computers are second nature.
The same can be said about the rise of home PCs in the 90s. When one was brought into my house (when I was only four years old), I was able to adapt and learn the secrets of Windows 95 rather quickly. For my parents, the learning curve was a lot steeper. They have become accustomed to it all by now though – browsing on their iPads, phones, and laptops (albeit often in a rather quirky fashion).
When visiting friends who have children, it still shocks me how adept toddlers are nowadays at playing on computers. It is like second nature for most of them. This ability bodes well for the future of cryptocurrencies and greater adoption. The more technologically minded one is, the less scary Bitcoin appears. It is also in schools that IT was taken much more seriously in the late 90s and early 2000s. My first IT teacher was roped in from the PE faculty, and the extension of his knowledge stopped at Microsoft PowerPoint.
As children become more adept at using computers, the idea of using Bitcoin shouldn’t sound as scary. Jack Dorsey has already described Bitcoin as possibly being the native currency of the internet. As more and more children learn the intricacies of how computers work and the code that makes them run, they could become more attracted to cryptocurrencies and therefore boost worldwide adoption. All the while, the improvement of the user experience of Bitcoin should allow for those who are adverse to new technologies to give it a test.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.