In the recently held, the Virtual Currency Today Summit GoCoin Co-Founder and CEO Steve Beauregard gave a keynote speech and admitted that they need to solve for the Bitcoin user experience for consumers. He also expressed his concern over Bitcoin adoption and said that right now, there’s too much friction for payment and confusion about wallets.
The event was produced by Networld Media Group, publishers of Virtual Currency Today, ATM Marketplace and Mobile Payments Today. Held the last week at the Back Bay Hilton in Boston, the event saw a lot of stalwarts participating and discussing the issues Bitcoin facing. Discussion and debates on consumer adoption, merchant acceptance, regulatory issues, etc. took place.
Nonetheless, filling an informational need to keep abreast of a rapidly developing technology, the Virtual Currency Today Summit is being considered a successful event. The panelists also discussed about the future of Bitcoin and other virtual currencies. When a lot of governments and regulatory agencies are looking for a law to regulate them, the discussion was necessary.
Apart from Steve Beauregard, there were some other speakers like Bruce Fenton, Executive Director of the Bitcoin Foundation, Judd Bagley, Director of Communication for Overstock.com, Naveed Sherwani President & CEO of PeerNova, David J. Cotney, Commissioner of Banks for the Massachusetts Division of Banks, and Sarah Martin, VP of the Digital Currency Council.
Bitcoin Processors Can Help More Customer Acquisition
Adoption of Bitcoin is a major challenge for Bitcoin companies, unless there are a large number of people who use Bitcoin, the digital currency won’t be a success. These speakers at the event urged the audience to take a deeper dive into areas such as consumer awareness and how Bitcoin processors can help merchants better market themselves.
According to the panelists, it is not enough to announce that the merchants are accepting Bitcoin but more. They must do more than announcing that they are accepting Bitcoin; for instance, they move ahead and educate their customers about the advantages associated with Bitcoin and other cryptocurrencies.
The speakers also urged the audience to work with regulators to shape a fair regulatory environment that doesn’t stifle innovation in the Bitcoin industry. As BitLicense are still around the corner, a lot of the stakeholders in Bitcoin ecosystem see a potential clash between them and the regulators.
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