Pay-to-use blockchains won’t achieve mass adoption.

Pay-to-use blockchains won't achieve mass adoption.

The Blockchain Industry: Moving Towards Mass Adoption

In the world of blockchain, enthusiasts and early adopters are familiar with the intricacies of paying to use blockchain networks and the associated complexities. However, for the blockchain industry to achieve mass adoption, it requires significant changes. These changes involve making blockchains free, frictionless, and familiar for everyday users who may have no appetite for the current complexities.

The Need for Free-to-Use Blockchains

Currently, blockchain networks rely on monetizing users directly through gas fees for each transaction. However, this approach contradicts how users are accustomed to being monetized indirectly in platforms like Google and Facebook, where they are served ads. To attract a larger user base, blockchain protocols need to align incentives between creators and consumers, leveraging the possibilities provided by Web3. This could include finding innovative ways to grow communities and incentivize participation through mechanisms like non-fungible tokens (NFTs).

The concept of “free” in this context doesn’t imply free from cost, but rather free for the user. Just as Google’s vast user base allows it to thrive by serving ads, blockchain networks need to find ways to monetize indirectly, appealing to a broader audience who may not be willing to pay transaction fees.

Making Blockchain Technology Frictionless and Simple

Onboarding users to crypto and blockchain technology is often a challenging experience. Many apps are abandoned due to poor onboarding or lack of user-friendliness. To achieve mass adoption, blockchain technology needs to become frictionless, seamlessly integrating with users’ everyday experiences. Users shouldn’t have to understand the complexity of blockchain technology or navigate complicated processes to use it. Similar to how the internet, phones, and TVs work, users should only need to know that it works, without needing to understand how it works.

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The goal is for blockchain technology to become a background technology rather than a prominent feature that requires users to change their behavior. By making it familiar and easy to use, blockchain technology can become an integral part of people’s digital lives.

Building Familiarity and Fun with Blockchain

The crypto industry has predominantly focused on areas such as speculative trading, scams, and arguing on social media, rather than creating innovative decentralized alternatives to existing platforms. Blockchain technology has the potential to revolutionize social media, gaming, and various other sectors, but only if it becomes as intuitive and enjoyable as opening an app or clearing a level in a game.

It is essential to create blockchain-based alternatives that offer users a seamless and engaging experience. By focusing on user needs and preferences, blockchain can transcend its current limitations and become a pivotal force in shifting power structures and enhancing personal autonomy.

Overcoming Existing Hurdles

Although the blockchain industry has made notable progress, certain fundamental truths remain as obstacles to achieving mass adoption. It is crucial to recognize these truths and steer the industry towards developing protocols and applications that align with users’ desires:

1. People prefer free services: Users don’t want to pay for what they believe should be freely accessible.
2. Users seek simplicity: They are less likely to engage with difficult tasks that should be intuitive and straightforward.
3. Users resist behavior change: Expecting users to conform to the industry’s vision will hinder widespread adoption.

By addressing these realities, the blockchain industry can silence its critics and pave the way for transformative change on a global scale.

In conclusion, the pursuit of mass adoption in the blockchain industry requires significant shifts. Blockchain networks need to move towards indirect monetization, making the technology frictionless, and ensuring it becomes familiar and enjoyable for users. By meeting these crucial requirements, the blockchain industry can reach a broader audience and unlock its full potential as a transformative force in various industries.

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