Where do i see Bitcoin Cash in the future

Bitcoin Cash is an open, unencrypted network. It allows you to interact with other people without violating their privacy. It is decentralized, voluntary and non-aggressive. As usage grows, old power structures break down and new ideas flourish. It could be the path to the greatest peaceful revolution the world has ever seen.

When I ask where I see Bitcoin Cash in a few years, I see it from a different perspective than most. I see it from the perspective of how we can improve the infrastructure to do things better and faster, and how we can incorporate new uses. But don't worry, I won't go into too much detail. There's a lot.

Here predictions for the next years:

Direct payments will be secure enough for many everyday uses.

It only makes sense to pay in traditional stores if the seller doesn't make you wait for confirmation. Instant payments are needed to complete the everyday use of money.

Direct payments are already accepted in many places, but the risk is not low enough for them to spread and become common practice. The main disadvantage of this risk is that merchants have to use an intermediary, a payment intermediary, to assume the risk of fraud.

A combination of improvements to wallets, proof of dual use and DeFi contracts can reduce the risk for merchants. Some merchants still want to pay a payment intermediary because it is worth it, but many merchants have the option to avoid the cost and simply make peer-to-peer payments. Instantly and with very low risk.

The benefit of this is that the cost of registering with the store is reduced to almost zero. A sales tablet or an existing phone and some staff training. Even if there are only a few transactions a week and the monthly cost is almost zero, the question "why not?" arises. still.

App-wallets

The advantage of Bitcoin Cash is that you don't need to ask anyone's permission to open an account, but the immediate disadvantage is that you have to take care of security yourself.

Many companies are set up to sell this security. For many, the fact that if you lose your wallet, you can get a refund simply by contacting the company is very attractive.

Another solution to protect against hacker attacks is the idea of a hardware wallet. This is essentially the same as a wallet on a smartphone, but with fewer features and is fully self-contained for greater security. There are models with and without an internet connection,

This is in stark contrast to current hardware wallets, which are not able to operate autonomously. They require a separate laptop or phone. With smart technology, this is not necessary and the device can operate autonomously. The internet-less phone only needs to be charged through the phone from time to time.

With improvements already planned in the payment protocol, this type of wallet will not require any special hardware on the part of the vendor, which makes it very attractive compared to the current debit card.

The price of such a device will soon be much lower than that of a smartphone and it will certainly be much easier to keep secure. I expect the price of such a device to drop to a low enough level that the next billion unbanked people will be able to participate in the global Bitcoin Cash economy.

Smart wallets will be much more useful than they are now.

Wallets are probably the most interesting element of the Bitcoin Cash ecosystem. People actually using Bitcoin Cash to interact with Bitcoin Cash is the only metric that will grow as we grow. If we have 100 miners and 100,000 wallet users now, over time the ratio will tilt absurdly in favor of wallet users.

Basically, this means that the wallet is a lot like a web browser. Anyone who wants to use BCH needs it. When we saw Microsoft exploit its platform, I expect companies will try to do the same here. Be careful with closed-source wallets!

Many other features will be built into the wallets to make them an experience rather than a tool. From timestamped documents to blockchain and Bitcoin Cash to location-based advertising from service providers.

The smartphone wallet is the main user interface for our user base. That's where innovations will happen that no one has thought of today. And it will all be done to keep end users happy.

After a while, more and more existing companies will become interested in Bitcoin Cash to add support for their existing products.

Thanks for getting to this point, it was good to write it and I think it gives an optimistic but realistic view of the future of Bitcoin Cash technology.

However, technology is meaningless without people. Creating large building blocks is not very useful if there is no economic activity to fill those building blocks. This essentially means that it will make it easier for more people to use Bitcoin Cash.

26.04.2022

@Belozoriana