BREAKDOWN: Will Mass Adoption Be More PayPal or Pornhub?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 23 January 2020
⏱️ 20 minutes
🧾️ Download transcript
Summary
There is an ongoing debate in the crypto community about where mainstream adoption. One point of view is that it will be the slow steady acceptance of digital assets. On that front, Bakkt president Adam White said in Davos yesterday that the company is on track to launch their app this year.
Another perspective is that the main use case of crypto is to enable otherwise censored transactions. Lending credence to this perspective is the case of Pornhub, which saw payouts to its more than 100,000 performers blocked unexpectedly by PayPal in November, and which announced cash outs via Tether (USDT) today.
In this episode, @nlw breaks down these two arguments and asks whether they’re mutually exclusive.
Also discussed is the new BCH mining group (cartel?) insisting on a 12.5% block reward dev fund, as well as interesting insights and data from research from CoinDesk and The Block today.
Topics discussed
Bakkt's consumer app is coming in 2020, and it'll look more like PayPal than Coinbase
Pornhub Now Lets Models Get Paid With the Tether Stablecoin
Bitcoin Cash Miners Propose Controversial Soft Fork for Zcash-Style Development Fund
CoinDesk Q4 2019 Review: A Year in Suspended Animation
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Transcript
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| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 0:15.0 | The Breakdown is distributed by CoinDesk. |
| 0:20.3 | Welcome back to The Breakdown. |
| 0:22.6 | It is Thursday, January 23rd, and we are today going to kick off looking at the ye old |
| 0:29.2 | question of mass adoption and where it comes from and whether it's about consumers picking |
| 0:34.3 | up new habits around digital assets or whether it's something different indeed |
| 0:38.9 | and is about censored transactions. Second, we're going to be looking at a new proposal out of |
| 0:43.8 | the BCH, the Bitcoin Cash World, that would divert 12.5% of all block rewards to a new developer fund, |
| 0:52.6 | and as you might expect, this is causing a bit of controversy. |
| 0:56.8 | And third and finally, we'll be looking at research that has just dropped. |
| 1:00.3 | One piece by CoinDesk, that's an overview of a lot of what happened last year, |
| 1:04.2 | and another piece from the Block and the Blockchain Association about trends in blockchain |
| 1:09.3 | employment. |
| 1:10.7 | But let's dive in with this question of mass |
| 1:13.6 | adoption. Is mass adoption more likely to come from PayPal or from Pornhub? That's the question |
| 1:21.1 | we're looking at today. So yesterday at an event hosted by the block at Davos, during the World |
| 1:27.2 | Economic Forum, obviously all these different companies are hosting side events. |
| 1:31.5 | The COO of BACT, or the president of BACT, rather, Adam White, said that the company was on |
| 1:38.1 | track to release their consumer-facing app this year in 2020. |
| 1:42.9 | The plan for this consumer-facing app is to have it be more of a |
| 1:47.7 | overall financial app experience than just a crypto app. So the way that the block called it is more |
| 1:56.0 | PayPal than Coinbase. But it sounds to me actually like it's even more than what PayPal offers. |
... |
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