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Credits and Lenovo New Vision(LNV) are to link-up and push forward the development of the Internet of Things. Credits will utilize their  blockchain expertise to help facilitate building software applicable for the combination of the Internet of Things and AI/AR, with a perspective of further implementation of the product in a variety of industries such as Fintech and Logistics. In addition, Lenovo New Vision is looking to incorporate Credits blockchain solution to streamline internal operations management procedures.

Credits have been chosen by Lenovo New Vision thanks to its distinctive technical solutions such as unique consensus algorithm which consists of dPoS (Delegated-Proof-of-Stake) and BFT (Byzantine Fault Tolerance) features, flexible customisable smart contracts and effective security based on elliptic curve encryption.  Blockchain platform capable of performing up to 1 million transactions per second, Credits offers the processing speed of 0.01 of a second combined with the commission rates of as low as $0.001. The extended functionality of CREDITS smart contracts makes it possible to set cycles and create schedules. This instrument implemented in the form of API with the SDK kit enables the platform users to implement their in-house fully autonomous and self-executable service apps.

Lenovo New Vision, a subsidiary of Lenovo Capital, is one of the first AR-solutions providers in terms of infrastructure, platform development, hardware support, system integration, and service assurance. LNV’s AI/AR solutions have been widely used in the field of public security, industry, medicare, education as well as other sectors. “The Internet of Things and Augmented Reality are already changing the way we interact with the world. We are excited to partner with AR titan Lenovo New Vision. I see the combination of  AI/AR and IoT revolutionizing the business environment,” Credits CEO & Founder Igor Chugunov said.

About Lenovo New Vision

Lenovo New Vision Technology Co., Ltd. is affiliated to the Lenovo Group (Lenovo), it is a business system of research & development, production sales and service. Lenovo New Vision focused on the field of AI/AR, provide professional industry solutions for partners in terms of infrastructure, platform development, hardware support, system integration, and service assurance. 

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What does it take for Bitcoin to achieve mass-adoption?

CryptoCoinPrediction.com is not responsible for the article’s content or accuracy and may not share the author’s views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

What does it take for Bitcoin to achieve Mass-Adoption?

The biggest obstacle for Bitcoin right now is, that so few people use Bitcoin. But why do so few people actually use Bitcoin from a day-to-day basis? Well, the answer is, because so few people use Bitcoin. That might sound a bit confusing right away, but I will explain myself.

Bitcoin has the obstacle to overcome, same as Facebook. Facebook became so valuable, because literally every friend of yours, and their parents where using it. If no one used Facebook, then I really doubt it would be nearly as valuable to humanity as it is today.

The same exact thing also applies to Bitcoin. What makes money valuable, is the fact that you can pay anybody for anything with it. Good luck paying your local supermarket in Bitcoins. It just doesn’t make sense to do so.

This is also called the network effect. It sates, that a system is only so valuable, as the number of people using that system.

So, let’s dive into the 3 deciding factors, that must happen for Bitcoin to fully achieve mass adoption.

First, of course, is the support by a big corporation or even country. For example, if a big company like McDonalds starts to accept Bitcoin, then people would be more inclined to make purchases with Bitcoin. This makes total sense, because why would anybody adopt the usage of Bitcoin, if you couldn’t make any real-world purchases with it? Exactly, it doesn’t make any sense whatsoever.

The first point was pretty obvious, so let’s look at the other deciding factors, that are crucial for Bitcoin to be mass-adopted.

Did you actually know, that a third of the world’s population, 2,5 million adults to be precise, do not have access to the banking system? Yeah, what people in the first-world countries take completely for granted, isn’t all that common all around the world: A bank account. On the other side, many more people in these third-world countries do have mobile phones, but no bank accounts. So, what if all those people start using Cryptocurrencies, like Bitcoin, for their online and day-to-day transactions? They could skip the traditional banking system and directly buy and sell Bitcoin from their smartphones. If one third (or even less) of the world population starts to use Bitcoin, it will gain world-wide recognition and overtake any other currency.

The third scenario that could happen, is that a major economic collapse or abuse occurs. When this happens, lots of people will want to transfer their wealth to something that isn’t dependent on any country or government, but is universally accepted in every country of the world. There aren’t many options for such things. One of these things is, gold. And the other could be Bitcoin, which I see as the digital version of Gold.

I hope we will never have to experience such a catastrophic event in our lifetime, but it sure is a positive thing for Bitcoin, since lots of people will adopt it.

These are all the point I could think of. Thanks a lot for reading and have an awesome day! Visit me at flashipcrypto.com for more Crypto-article?