Why Crypto Lags Behind at ETHDenver


At last week’s ETHDenver event, there was an underlying issue that the crypto industry needs to address. It’s not exclusive to blockchain, but it is something that needs to be confronted. In mature industries, employees are expected to use the products they create – “dogfooding”, as it’s known. But in the early stages of blockchain, this is still an age-old problem.

Why aren’t people in the Web3 space using their own technology? We talk about revolutionizing the internet with new features like privacy, transparency and enhanced user experiences – and we are. But many projects still resort to the same Web2 technology they are trying to replace.

It’s a problem that’s been around since the beginning. We prioritize decentralization, yet most crypto payments occur on centralized exchanges. We care about transparency, but trust assets to companies like FTX. We talk about innovation, yet the side events at ETHDenver ran their ticketing on legacy systems like Eventbrite, when better Web3 options exist.

Related: Most blockchain advocates haven’t even used Bitcoin

There may be valid explanations for this, as it’s a natural part of the development and adoption process. But it should be a reminder to the crypto community that we must be the first to use the tools we build. We need to show the world that these alternatives work, and are better than Web2 options. This is a common experience in many industries as they mature.

Crypto events and conferences are a great place to put NFT ticketing to use, yet Web2 platforms remain the norm. At ETHDenver, there were plenty of Eventbrite links for side events. That’s not to say these aren’t great events – but why aren’t the Buidlers using the technology they have created?

NFTs also offer a better solution to exchanging business cards. Instead of paper that’s likely to get lost, people can scan QR codes and store the interaction as an NFT. It could be used for promotions, coupons, emails and more – a much more powerful experience than a paper card.

It’s our job to demonstrate to the world that there’s a better way. We need to “dogfood” what we’re building and find the friction points. We must show people that Web3 technology can work, and can work better than the old paradigm. It’s not going to happen overnight, but there needs to be a conscious effort from the community to demonstrate these values.

Related: Regulation stole the show at Barcelona’s European Blockchain Convention

It’s a new technology and there’s a learning curve, but at some point, the community must make a change. The progress made in the last few months is remarkable, so perhaps people are waiting until it’s completely seamless. That’s understandable, but let’s make an effort to choose when and how we want to show the world that we have created these new solutions.

It’s no secret that this tech exists, but our community appears stuck in its old habits. The attendees of ETHDenver are the perfect audience to use this technology, so it’s time to start making a change. We must lead the way and show others that this stuff works. Anything less is hypocrisy.

Julien Genestoux is the founder and CEO of Unlock Protocol. He founded SuperFeedr, which became one of the leading real-time web APIs, received funding from Mark Cuban and Betaworks, and was later acquired by Medium. At Medium, Julien led the company’s SEO efforts and quadrupled the share of traffic Medium receives from searches. He created his first company, Jobetudiant, while still in school.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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