The cryptocurrency industry has grown into an over $200 billion sector, with much room to grow. However, tens of millions of people (especially those in underdeveloped markets) have not adopted blockchain-powered money.
There are several requirements to buying digital coins at the moment. First, you need a bank account. Financial institutions ask for numerous government identifications, which compromises people’s privacy. Similarly, know-your-customer (KYC) rules prevent regular folks from buying cryptos because of the friction that’s inherent in KYC.
Secondly, most people need a computer and internet connection to access digital assets. Many around the world live in places that lack banking and tech infrastructure. There are undoubtedly millions who live in these regions who’d rather earn and spend in digital coins rather than devaluing fiat cash.
And third, cryptos require know-how (such as being able to use wallet addresses, private keys and two-factor authentication) to spend and trade. This can be a barrier to non-tech savvy consumers and investors.
Importance Of Physical Locations
Apollo Foundation, which is developing the most feature-rich cryptocurrency anywhere, believes there’d be greater adoption (especially in places that lack infrastructure) if cryptos are made available in physical locations. Access beyond the web to include physical outlets would enable vast more people to buy, sell, trade and invest in cryptocurrencies.
Our team is designing Apollo to fit the needs of all other cryptos by making it anonymous, fast and secure. But we also recognize the need to overcome logistical and educational hurdles.
Physical distribution points are a major reason why people everywhere are able to use billions of mobile devices globally. Because telecom companies and hardware suppliers have ensured appropriate distribution points at the retail level, which allows the masses to acquire cellphones and smart mobile devices.
Decentralized Apollo Banks
A similar approach can be applied with cryptos.
We intend to open potentially thousands of physical locations and ATMs in nearly every major city on Earth. Locations will be referred to as Decentralized Apollo Banks which will facilitate a simple way for anyone to access Apollo quickly with cash.
At these locations, people will be able to exchange fiat for Apollo and take advantage of the freedom and security offered by blockchain and Apollo platform.