Simplified user experience (UX) may propel Bitcoin to gain mainstream adoption. Dan Held claims that Bitcoin adoption has been restricted due to it being too complicated. In his opinion, simplified user experience is what Bitcoin needs.
Why is there a need for simplified user experience?
Bitcoin (BTC) has been around for over a decade, and despite being better than the traditional financial system, the system’s use has been quite limited. The biggest reason behind its slow adoption is the complexity that comes with it. The product, despite being highly efficient, has a restricted userbase due to its use is very complicated. The growth of any product or technology is always dependant on how easy it is to use for the general public.
Although Bitcoin trading, i.e. buying and selling may be simple enough, other activities are not. Some of the complicated tasks related to Bitcoin include setting up nodes, managing private keys, and understanding the operation of the core protocol.
Dan Held, the Director of Business Development at Kraken, appeared on the podcast called “What Bitcoin Did.” In the podcast, Dan advocated for simplified user experience while elucidating on how it can propel Bitcoin’s adoption.
He discussed the conservative approach that claimed that simplified user experience is not necessary for Bitcoin adoption. Dan believes that Bitcoin should be available to everyone, not only to those who understand its principles. He believes that Bitcoin will not be able to replace money until it is usable for everyone.
Dan stated that today, the world has access to better technologies than ever before. These technological advancements should be used to make modern-day projects more accessible to the general public. Dan stated that if we build better interfaces, “we would probably have our work cut out for us for 100 years.”
His ideas were reinforced by statistics of Google searches. Google trend data showed that people are not interested in understanding the underlying complexities of the system. Most queries were related to Bitcoin’s price while almost no one asked about setting up a node.