Huh? What? A "Crypto-Bank"? That's Sacrilege! No wait. On Second Thought...(Pondering the Crypterium ICO)

in blockchain •  2 years ago  (edited)

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IJCH - Inside JaiChai's Head (meaning: My warped, personal opinions and musings)

From the Author

Salutations. I am JaiChai. And if I haven't had the pleasure to make your acquaintance, it's always nice to meet a fellow Steemian.

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No Clones Here

There's already a buttload of hyped, generic "What is the Crypterium ICO" article clones available online.

This won't be another one of them.

Anyone can easily google what the Crypterium Crypto-Bank ICO promises to do, the services they will provide, the options they will offer, and how they plan to do those things.

I won't bore you with that.

Rather than re-hashing the "What" and the "How" of the Crypterium ICO, this article discusses that all important "Why".

This is my take on the fundamental "Why" of the Crypterium ICO - Its Reason for Being.

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Knee-Jerk Reaction

The first time I heard about the Crypterium Crypto-Bank ICO, I remember thinking, "Seriously? A 'Crypto-Bank'? This is pure sacrilege!"

"Isn't the whole point of cryptocurrency to gain freedom from the big banks?"

"Didn't Satoshi Nakamoto create bitcoin as a response to the 2008 World Financial Crisis - a debacle caused by the Global Banking Elite?"

In my mind, the case was closed.

Then feeling rather smug, I didn't think of Crypterium for another second.

I had to spend my limited supply of functioning brain cells on more important matters (e.g., thinking of an acceptable excuse for not going to the mall with my girlfriend; instead of telling her I just want to binge-watch a Netflix series - any series!)

But then...

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"Simple" Questions

My mother called me right out of the blue - at 3:00am.

"Ma, it's 3:00am. Is there some kind of emergency?"

"Oh sorry. I always forget you're 12 hours ahead of me. I just read something, then I saw something on television and I thought of you."

"Really? What was that?"

"It was a show about 'cryptozoologic money', you know, that stuff you tried to explain to me last Christmas when I visited you and my granddaughter."

"Ma. It's 3:15 in the morning! Whatever questions you have will probably take some time to answer in a way that you can fully understand. Can't you just email me your questions and I'll answer them later?"

"Okay. But my questions are really simple - I think? If this 'bittecoin thingy' is so much better than a dollar, why is it so hard to get it, spend it or even understand it? I mean, why can't I just use a 'bittycoin card' like I've been doing all this time with my bankcard?"

"Look Ma. I understand your questions. And I'll answer them after I get a little more sleep, okay?"

"Alright son. Talk to you later. Hugs and kisses to my granddaughter."

(click)

The truth is that I couldn't go back to sleep.

My mother's "simple" questions made me realize that I'd forgotten that 98% of the world's population still hasn't heard of bitcoin yet, much less understand it.

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The Ivory Tower

In my "Cryptocurrency Ivory Tower", I forgot about the real world.

Let's face it.

Although the cryptocurrency space has advanced in leaps and bounds in a very short time, it still isn't user friendly enough for the average individual; especially those who are techno-phobic and just want things as simple and convenient as possible (e.g., my mother).

My mind goes back to the call from my mother and what the scene would look like without a lot of preliminary education, wallet setup, wallet funding, links to intermediary cryptocurrency-to-fiat exchange, gateway or bridge created, and intensive hand holding from me.

I can imagine how quickly my 86 y/o mother would get overwhelmed the first time she has to deal with her cryptocurrency wallet.

Knowing her, the whole transaction process would feel like learning how to walk again.

And messing with QR-Codes and wallet addresses would instantly aggravate her.

It would most likely result in her sending the money to the International "Kill the Babies and Eat Puppies for Breakfast" Foundation.

Let's say, by some miracle, my mother doesn't give up, hasn't lost her money, and was patient enough to complete the process.

What else could happen to make her not try this again?

Simple.

If paying for something takes longer than she's used to, I guarantee she would not do it again; thinking, "This is all simply rubbish. I'm not torturing myself or wasting my time with this nonsense ever again!"

You hear that?

That's the sound of my mother's footsteps as she stomps away from the checkout counter and out the door.

Where is she going?

Isn't it obvious?

To go get her bankcard from home!

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Enter Crypterium - A Sturdy "Happy Bridge" for the Masses

The Crypterium Crypto-Bank serves as a Sturdy "Happy Bridge" for the non-cryptocurrency people comprising over 98% of the world's population who are still hesitant to make that leap into that "scary and dangerous rabbit hole called cryptocurrency".

I'm sure we all can empathize.

Remember when you stopped lurking - just safely looking down that hole - and finally jumped in?

Committing your own hard earned cash was scary, no?

For the newbie of today, the Crypterium Crypto-Bank is the solution; allaying the normal anxieties all neophytes inevitably experience.

Crypterium is the easy, painless method that enables anyone - especially those who would not do so otherwise - to leave the legacy banking system (with all its flaws and limitations) behind and begin enjoying all the benefits that crypto-banking has to offer.

To the new crypto-bank customer, it will seem like nothing has changed in the way they shop, pay and conduct business.

With Crypterium, customers will have all the bank services they are used to (and with the same convenience) plus:

  • access to instant cryptocurrency payments

  • contactless payments through the most popular payment channels and mobile apps (IOS and Android)

  • option to go "cardless" (no more plastic)

  • and much more

For those who have never had or couldn't have (due to the many obstacles and requirements that legacy banks impose) access to banking services, Crypterium is a Godsend.

Crypterium aims to provide access to bank services available to anyone, anywhere.

Most will be clueless that we are all in the midst of the biggest shift of wealth ever in human history. And they will not know that they are, in part, responsible for this massive wealth distribution.

And maybe that's good.

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The Movement

Most people don't care enough (or are too afraid) to be actively involved in the cryptocurrency movement.

As long as people have a way to do their normal banking and pay for things with cryptocurrency as conveniently as their local fiat (AKA: the Crypterium Crypto-Bank), more and more people will get onboard.

And the mainstreaming of cryptocurrency will grow exponentially.

By JaiChai

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More details about Crypterium Crypto-Bank products and the Crypterium ICO can be found at: https://crypterium.io

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Many thanks for reading my post. And if you enjoyed it, please: Upvote, Follow, Comment and Resteem.


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"My mind was a terrible thing to waste..."

About the Author

JaiChai has been in the Disruptive Technology, Computer Science and Cryptocurrency spaces for many years. He is an enigma, regarded by his cohorts as sarcastic, funny, intuitive, but most of all - elusive. He’s known for randomly submitting philosophical and contrarian posts on several diverse forums.

When asked about his vanishing acts, he says, "I’m just somebody who enjoys being nobody because I look like everybody. Besides, time checking things off my 'bucket list’ - sans notoriety - is time well spent.”


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Simply excellent writing. You are probably going to win this one too. When Dash creator Evan Duffield had an encounter with his mother he undesrstood the importance of a crypto that one's mother/grandma could use. Hence https://www.dash.org/evolution

It's been in development for at least an year and Dash Evolution will eliminate the need for many ICO projects. That's why Dash is my #1 Currency. They don't want to build a bank. They want everyone to be their own bank.

@vimukthi,

You sold me.

Dedicating portfolio space to Dash as we speak, buddy.

Love their governance and attitude (plus many other stuff that you know already).

Thanks for visiting, my friend

You truly rock, Dude!

Namaste,

JaiChai

Happy to have gotten you in :-)

Namaste.

very Good JC. love the bit about your Ma ! makes it very real from up here in the crypto ivory tower.. I'm seeing another Podium finish this week for you. this one rolls over Christmas day !

@outerground

Thanks a lot, buddy.

Namaste,

JaiChai

Nice work... Really enjoyed reading your article!!

  ·  2 years ago (edited)

@hoosain,

Thanks a lot for visiting and taking the time to comment.

Glad you enjoyed the article.

Happy Holidays to you and yours.

Namaste,

JaiChai

Well, it does sound like something with potential, although I share your initial skepticism. A crypto bank? My gut also says "I thought we were trying to run AWAY from banks..."

On the other hand, we do need some kind of "gateway" to make cryptos more accessible and understandable to the majority of the world, if we TRULY want "mass adoption" to happen. People expect easy and convenient. People want to be able to just buy a cup of coffee with their cryptos, and not have it involve a bunch of thinking.

Appreciate the info... I might keep my eye on this one.

@denmarkguy,

Hey, thanks for visiting and commenting.

Happy Holidays to you and yours.

Namaste,

JaiChai

Link to the post found in the chat ... and the post was interesting) Thank you)

@amalinavia,

Thank you so much for visiting and commenting.

Happy Holidays to you and yours.

Namaste,

JaiChaj

Everything that helps crypto going mainstream is good for us as a community because it will help us grow.

Keep up the good work.

@dedicatedguy,

Thank you so much for visiting, commenting, and of course, your kind words.

Namaste,

JaiChai

The @OriginalWorks bot has determined this post by @jaichai to be original material and upvoted it!

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To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!

Gotta love the JaiChai style!

I had some similar thoughts about 'bridging the chasm' this week.

By the way, where did you get the following image?

I want to appropriate this

@ecoinstant,

I'm pretty sure it's an ancient, discarded logo that was on google's "free to share, modify, even commercially" advanced image search.

I tried to find it again, but now I can't.

I guess I'll have to make another.

The bulk of my images are from the "free to ...." Category and if needed, I do a two-second Pixlr and Photo-Resizer makeover.

In retrospect, when I think about my last 4 months here, I feel grateful.

I just learned how to do the image mods and the [Source] stuff about two and a half months ago.

Steemit's got me learning like a jack rabbit - and I love it!

Or, in a word. Amazing!

If I can find it [the ancient original] somewhere, I'll send it to you.

Thanks for keeping up the connectivity, my friend.

Namaste,

JaiChai

@ecoinstant,

You might like this one?

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Namaste,

JaiChai