The cryptocurrency industry hasbeen looking to gain mainstream adoption in the retail industry for severaltimes.

Several retailers are not willingto discuss any prospective cryptocurrency payment system until they come acrossits real-time application. They are notwilling to comment on it until they learn how people will use it.

Several merchants have attemptedto accept cryptocurrency payments in the past; however, it was at a too earlystage.

Irrational optimism is seen in acrypto gathering at the consensus convention. The attentiveness of the audience was reported to be poor in thisgathering. Several boyish foundersannounced their founding related to exchanges, wallet services, and blockchainstartups.

With an increase in the numbersof smartphone users, the numbers of mobile apps have as well increased. The adoption and usage rates have beendecreasing in the regular Google Pay and Apple Pay networks.

Large and small organizations aremoving into the world of cryptocurrency banking. Samsung provides the S10 phone in which coldstorage is included as a standard. TheExodus 1 phone marketed as buyable only with Bitcoin can run a full BitcoinNode. Newer innovators are coming upwith mobile applications and virtual debit cards.

Danial Daychopan, when talking about the bankingissues related to cryptocurrency, stated, "Firstly, ease-of-use. Cryptocurrencies are heavily associatedwith the tech-savvy, and this is a strong deterrent for newcomers." He also said, “Secondly, the unreasonablefees. As an emerging market, there are minimal reputable and secure exchangesthat provide reasonable fees for buying and selling crypto (especially for UKcustomers) – some charge as much as 4% with further hidden costs…”

Revolut, a cryptocurrency meetsfiat banking solution faces a range of accusations after Telegraph, a UKnewspaper published “AML lapses and poor working conditions.“

At the Consensus Conference heldin New York this week, it was stated that Chinese investors are looking toexchange Yuan for other kinds of assets like the Bitcoin, USD, etc. The Chinese are into a belief that the Yuanwill continue to drop.

Philippe Bekhazi, CEO of XBTO,stated, “I’ve talked to a bunch of traders on the ground in Hong Kong. There’sa booming business in stable coins because people are getting money out ofChina and Hong Kong.”

Gary Shilling, the former chiefeconomist at Merrill Lynch, stated, “They’ve been very stringent on moving moneyout of the country.”