Cryptocurrency is revered by enthusiasts, coveted by traders, and misunderstood by the masses. Although cryptocurrency benefits often invoke powerful concepts such as sovereignty and privacy, mass adoption is still far from reality. People have not abandoned Facebook despite countless privacy slip-ups, leaving many to wonder whether consumers value privacy at all.
Is it possible to gain mass cryptocurrency adoption on the platform of sovereignty and/or privacy benefits?
I reached out to fellow marketing philosopher Beni Issembert (CMO, BEAM Privacy) to explore the conundrum. Not only did Beni expand my thinking on the issue, he also triggered new questions about cryptocurrency user personas. The conversation has only just begun… now we are looking for feedback.
Beni and I chatted on Twitter to unravel the mystery. We discussed ten questions about privacy, sovereignty, and the application of these concepts to cryptocurrency marketing and privacy-based technologies:
- Why is there a disconnect between the need for privacy and mass adoption of privacy-focused technology?
- To what degree do cryptocurrency audiences understand the value of “privacy by default”?
- Would you advertise on platforms such as Facebook if it meant reaching mass audiences in need of privacy tech?
- What is the most difficult thing for people to understand about sovereignty?
- How does cryptocurrency usage improve individual sovereignty?
- What role does privacy play in sovereignty?
- Do you find that people interested in Mimblewimble are more likely to be advanced cryptocurrency users?
- What is the biggest barrier to cryptocurrency mass adoption? Is that barrier the same for privacy coins?
- How prevalent is the CypherPunk philosophy in cryptocurrency today?
- Is it possible for the CypherPunk philosophy to gain mass adoption?
Here are some highlights from Beni:
- “I believe Mimblewimble with Beam’s user-centric strategy is the best recipe to gain mass adoption and let the crypto express the so-needed monetarian biodiversity.” Beni Issembert
- “BEAM Privacy offers a user-centric, private by default SoV and eventually MoE. Adding the privacy layer on crypto transactions assures imho a new financial sovereignty.” Beni Issembert
- “Privacy is a component of this journey, called the path to individual sovereignty. I would add the concept of usability to complete the trip.” Beni Issembert
- “Keeping our financial activities private to ourselves with the capacity to disclose them to the person of our choice is the best expression of this return to control, thus to sovereignty.” Beni Issembert
- “Privacy by default means that there’s no way for an authority to put a name on a transaction without the parties’ consent. This is radically different.” Beni Issembert
Twitter Chat with BEAM Privacy
Call it marketing, storytelling, game’s rules, education means the transfer of knowledge from A to B and with a little chance C, imho. The idea is to offer the truth and only the truth. pic.twitter.com/4qc1rDabh4
— Beni Issembert (@beni1977) June 27, 2019
— Crypto Coffee ☕ [Espresso Maximalist] (@Kristen_Colwell) June 27, 2019