The adoption towards cryptocurrency is a long process. “It’s not PayPal-easy”, which is inhibiting its mainstream adoption. For example, in case you lose the private key for your wallet, you won’t be able to retrieve your money. People who are new to cryptocurrency are afraid of experimenting with it because of this example. Mass adoption will not happen unless blockchain platforms develop tools for easily paying with cryptocurrency in your daily life. Only in this way, users will get comfortable with using cryptocurrencies.
High barriers to entry
Many businesses don’t want to experiment with Blockchain Technology as they are afraid of using it. Existing media outlets often picture cryptocurrencies as criminal money. This is absolutely wrong. It’s only slowing down the adoption. For business, it’s not an easy task to find accurate information to get started.
In addition, to get a decent understanding of the cryptocurrency and blockchain space, you’ll have to go through a steep learning curve. Things you’ll encounter:
- What’s the best option to store my coins? Local, hardware wallet, exchange, …
- What other projects exist besides Bitcoin and Ethereum? How to research them and find valuable projects we can use as a company?
- Where to find reliable sources of information? The ICO / cryptocurrency space is a highly sponsored environment where most of the articles are funded by some kind of ICO project.
- What is a consensus algorithm and how many are there? How does it work?
- What is an ICO? What is a token sale? Difference?
This abundance of questions is discouraging people to start learning about cryptocurrencies.
For cryptocurrencies to function as a means of payment, it needs to be stable. As it is now, a $9,000 price tag in bitcoin on Friday, might cost $10,000 bitcoin a week later. No fiat currency moves like this. The problem is even bigger for institutions which have to plan ahead and cannot assume 20% price movements on a transaction because of the dollar-bitcoin exchange rate.
Avesta – The cryptocurrency that you can Mine and Use
Avesta wants to address the above issues by creating a platform focused on both users and businesses.
Our vision is to materialise the mass adoption of cryptocurrency in Africa and the rest of the world. Avesta wants to provide a stress-free experience when it comes to adopting and using crypto for the first time by removing all required knowledge barriers. Avesta believes we can create a more efficient financial system if everyone does own crypto in their wallet. This financial system will become much faster, efficient and secure without the need for intermediary banks requiring high fees and signup costs.
The Avesta token can be processed 60 times faster than the Bitcoin network which is a major accomplishment. To make it even greater, Avesta charges low fees so businesses can profit using Avesta tokens as a mean of payments.
Users can transfer money almost instantly as a transaction gets confirmed in less than 10 seconds due to the multi-layered architecture of the Avesta Blockchain. To give our users a seamless experience, we offer a multicoin/cash wallet. This wallet is capable of storing digital coins and as well fiat. The wallet is even capable of converting your crypto funds to fiat and vice-versa.
At last, the trump card of Avesta is the invoicing functionality. Businesses can create invoices which will be stored and tracked on the Avesta blockchain. A status can be monitored real-time wherever you are. Your customers can send instant payments to fulfil the invoice. Once this has happened, the status will be changed to ‘Completed’ and you will receive a notification. Using Avesta, a business can save a lot of money, time and efforts as it helps them to streamline their operational processes.
Aydin Farhoudi has founded Avesta. He describes himself as a leadership junkie, purpose weaver and catalyst visionary with more than eight years of experience in B2B sales, finance and merchants approach. Besides Avesta, he owns multiple other companies like Bitcause which is focused on cryptocurrency mining. Avesta Africa Sarl is created and funded by Bitcause, Hi-din co ltd, and E-life Hong Kong Co Ltd. Owning a license to operate as a blockchain bank in Guinea for domestic and international transfers.