”We believe cryptocurrency to be at a crucial inflection point similar to the internet in 1980; powerful beyond belief, but limited by its complexity and to the general consumer.
THE PATH TO GLOBAL CRYPTO ADOPTION
Four months ago, we started researching technological breakthroughs in history. From the printing press to the light bulb, our goal was to identify moments in time that something went from a ‘good idea’ to an actual product used by millions of people across the world. What causes an inflection point to form and most importantly, what is the catalyst that moves innovation from speculative behavior to mass consumer adoption?
Of all the technological advancements we discovered, there was one in particular that had the clearest moment of lift-off: the growth rate of the internet. While online usage has continued to grow since the 70s, there was an inflection point in 1983 that seemed to expedite everything at an exponential rate.
Although there are many plausible reasons for this explosion, the introduction of the Domain Name System (DNS) in 1983 is widely considered the force that set everything in motion and bridged the gap between technical individuals and average consumers. For the first time in history, DNS allowed people to enter in human-readable domains (www.google.com) instead of a long sequence of numbers like IP Addresses (184.108.40.206).
THE CONSENSUS NETWORK EFFECT
Just like internet users had to type IP Addresses to receive website information, blockchain users are currently forced to use long public keys (0xC257274276a4E539741Ca11b590B9447B26A8051) to receive crypto. So why hasn’t a solution been found? Or if it has been found, why isn’t it being used? What does the industry still need for a naming system to exist? We believe the answer is more than technology; we believe we need Consensus.
Each new person to agree on something, that something becomes exponentially more valuable to each user. With Bitcoin, the more miners who mine, the more secure the network. With Facebook, the more users who join, the more usable the platform. With Domains, the more sites that are created, the more navigable the internet.
Economies of scale are a powerful example of when quantity can be just as important as quality in terms of increasing network value. Despite great technological solutions for naming systems being developed, the industry hasn’t come to a consensus on one naming protocol. This is the opportunity we are passionate about, and this is why we are building Clover.io
HELLO CRYPTO, MEET CLOVER
Clover is a universal naming system for the decentralized world. With a mission to onboard the next one billion cryptocurrency users, Clover aims to expedite innovation and mass consumers adoption through a simplified, socially-driven, community-focused go to market strategy.
Rather than sending crypto to a sequence of characters, Clover Usernames can be used to accept any crypto, from any blockchain. Rather than forcing individuals to understand blockchain, Clover offers on-chain and off-chain solutions for everyone. Rather than a traditional domain extension, Clover Usernames look exactly like the social media usernames we use every day.
Rather than hoping transactions are going to the right place, Clover Usernames offer additional peace of mind to each transfer. Rather than building a technology we hope people will use, we are building a community around the solution we hope to find. Rather than trying to get the world to adopt cryptocurrency, we are adopting cryptocurrency to the world.