It’s safe to say digital currency is no longer a niche subject. Since hitting 4.9 million users in November 2016, Coinbase has nearly tripled its user base in the last year. Of course, Bitcoin’s meteoric rise is driving much of the recent interest, impacting hundreds of other digital currencies.
It’s safe to say digital currency is no longer a niche subject. Since hitting 4.9 million users in November 2016, Coinbase has nearly tripled its user base in the last year. Of course, Bitcoin’s meteoric rise is driving much of the recent interest, impacting hundreds of other digital currencies.
Until now, interest in bitcoin and altcoins has been driven mainly by privacy fanatics, finance wonks, keyboard warriors, and early adopters of other technology. Now, the message about digital currency’s long-term value is finally being heard — even in the Heartland. In major cities, it can be easy to find large groups talking about the latest innovations, but where do you turn when you live in a smaller community? How do you generate interest in digital currency adoption when you don’t live in a top-tier tech hub? Here’s what I learned from my experience in Omaha, where I run Alpha BTC, growing a network of cryptocurrency kiosks and consulting on blockchain projects in the Silicon Prairie.
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The first step in driving conversation around digital currencies will, appropriately, be taken online. Whether it’s in a Facebook group, Slack or Telegram chat, Discord channel, etc, look for others who are already talking about digital currencies or blockchain and jump in. And, if your search for a local group comes up empty, take the initiative and create one. The average person outside of a major tech hub may assume others in the area will be interested, and they’re just waiting for someone else to take the initiative. Inform yourself as well as you can, and take inspiration from other groups that have successfully created active forums. Examples of crossover between other existing parties may include libertarian groups, gold and silver aficionados, businesses that accept crypto, and software firms.
In my experience, nothing has been a more powerful accelerator for local digital currency adoption than meetups. Meetups present a great first opportunity for people to transform online interest into action (other than investment), and a vital way to build and maintain real momentum.
In Omaha, we’re lucky to have a sizeable and active Fintech community, which helped tremendously when launching a digital currency meetup. Individuals who work for larger institutions such as First Data, NorthStar Financial Services, TD Ameritrade, Berkshire Hathaway, Mutual of Omaha, bring with them an economics and technology background that translates readily into cryptocurrency. But the beauty of democratized money is that there are no prerequisites or barriers to entry, nor do you have to live in a major city to get a successful event off the ground. In smaller communities (particularly in the Heartland), people don’t think twice about driving between towns for a unique and valuable destination. Alternatively some states with more rural communities are using technologies like Slack, Skype, and Discord to connect remotely on a more regular basis with intermittent face-to-face events.
You don’t have to be a master event planner to arrange a meetup; the right camaraderie and content will keep people coming back. Mix up the format to include meeting at a coffee shop, beers at a local bar, or on a local campus to attract more students. Get creative — if you hear of an industry personality traveling nearby, invite them to come speak. Keep the audience challenged, with topics chosen by audience members and volunteer speakers. Follow the examples of already-successful digital currency groups in other regions and reach out to organizers of relevant local groups for support and advice.
For digital currency to really gain traction in your area, the message cannot stay within the confines of a special interest group. Out of necessity, and hopefully organically, one or a number of the group should reach out to local business and tech leaders for insight and partnership.
Depending on the size of your community, being an ambassador for digital currency can take a number of forms (and many cups of coffee). But it comes down to networking, open invitations, and likely a bit of public speaking.
It may seem like a long shot that digital currencies could really take off in smaller cities, but I’ve found it’s not far-fetched, at all. When we started in Omaha four years ago there were only two of us doing any sort of external outreach, and the typical bitcoin meetup numbered 20 at most. There are now hundreds of folks buying and trading cryptos. The world is shrinking every day and interest in digital currencies is growing even more quickly, like the price. Take the initiative to create an engaging forum and valuable connections, and the innovators, novices, and HODLers will come.
Edward Weniger’s vision is to increase exposure and recognition of the Midwest as a Fintech hub. His firm, Alpha BTC, installed Nebraska’s first bitcoin kiosk and built a bitcoin arcade at AIM Infotec 2016. In addition to running events such as Block-a-thon Midwest, he also co-hosts Proof of Podcast and is a founding member of the MidFin Alliance.
