how to bring crypto to the masses

The most important goal for people that build in the crypto ecosystem is to reach global adoption. Our dream is that more and more people will have enough tools to use their cryptos for everything they use fiat money for right now. However, there is still a lot to build for that.

Therefore, in this GeckoCon 2022 talk, you will discover three different points of view from people who are actively working in important crypto companies:

  • Han (Lead Investment Manager – KuCoin Labs)
  • Thanh Le (Founder – Coin98 Finance)
  • Antoni Trenchev (Co-founder & Managing Partner – Nexo)
The Current Development Of The Crypto Ecosystem 

Antoni Trenchev said that since the federal reserve got involved, all markets have come down so there are more related industries getting worse, apart from the crypto industry. It is painful for all types of investors. So you have to go back to the fundamentals of cryptos and DeFi to know why you are investing in cryptos. Also, Antoni said that we first need things to stabilize in the market, so regulation can continue spreading and people can use web3 protocols massively.

Moreover, Thanh Le said that on the commercial side, there are already many initiatives applying blockchain technology like Coin98 Finance. Also, more and more people are understanding the value of these initiatives, which incentivize adoption. In addition, there are initiatives applying new uses in NFTs for the user-centric approach. However, he said that there are also many opportunities to improve the user experience.

Finally, Han explained that there are predictions that 75% of US businesses will be accepting cryptos in the next few years. So DeFi is one of the most mature sectors in the industry, making it easier for users to understand. Also, she said that payment and wallet solutions will have more regulation, but she can’t predict when adoption will be much higher. It’s still too early.

What Should We Build to Boost Crypto Adoption?

In this section, Antoni Trenchev said that it is important to focus on building infrastructure to ensure good technological execution. Also, we need to focus on designing solutions focused on improving the user experience to improve adoption.

On the other hand, Thanh Le said that to improve the security of wallet usage, Coin98 Finance has made a scam whitelist that is now available. So if you are using a dapp with scammed smart contracts, their wallet will send their users a notification about it.

Moreover, Han said that she doesn’t have a specific line of investment (CeFi or DeFi) that can boost crypto adoption. However, she is convinced that product design is critical to making users feel better and adopt crypto products/services massively. In other words, easy dapps to understand, with practical applications that people understand the value they add to their lives.

Are There Reasons To Be Positive About The Crypto Industry?

Antoni Trenchev said that considering that DeFi can make people’s investments can be much more profitable than in banks, this bear market will correct a lot of improvised people. Over time, the good protocols will endure. Also, he said that there will be web3 initiatives that provide DeFi services to part of the value chain of traditional banks. In this case, Nexo already has many partnerships with regulators to protect their user’s investments. They have not had a hack in the last 5 years, where withdrawals are almost instantaneous.

Also, Antoni said that there are reasons to be positive in this industry. There are many very young but mature users in the sector. The crypto sector can now be compared to what the internet sector was in the 90s. So, it will have a lot of opportunities.

Then, Thanh Le said that safety is very important for adoption. Also, he agrees that there are reasons to be positive. You can learn from the different bear markets to be in a better position for the next one.

Finally, Han said that there are reasons to be positive. There are more and more investments/incubators of different types that want to explore. This is a good sign. Companies that want to incorporate the technology.

For more cryptocurrency news, check out the Altcoin Buzz YouTube channel.

Find the most undervalued gems, up-to-date research and NFT buys with Altcoin Buzz Access. Join us for $99 per month now.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.