Web3 mass adoption Onboarding the next billion users.

Achieving mainstream adoption of Web3 is a key goal for the blockchain community. We strongly believe in the revolutionary power of this technology, but how do we share its potential with the world? There is no one-size-fits-all solution, so blockchain advocates need to tailor their sales pitch to different audiences in order to kickstart mass adoption from the ground up.

In just over a decade, cryptocurrency has gone from being a niche part of the dark web to a significant focus for many investors and institutions around the world. However, compared to traditional financial systems, Web3 is still often overlooked.

On one hand, the lack of clear crypto regulations in countries like the US remains a major obstacle. The current legal ambiguity around Web3 limits overall investment activity. While US citizens can contact their representatives and push for sensible cryptocurrency laws, what can people around the world do to drive the blockchain industry forward?

A holistic approach to growth

There are actually many areas where Web3 supporters can make a difference. In particular, private individuals and businesses can come together to raise awareness of what blockchain is really about. Education, development, and onboarding are all powerful tools that can bring us closer to a more vibrant and decentralized world.

To increase awareness, we need different strategies for different target groups. Growing this emerging digital industry isn’t just about finding more users, but also onboarding more companies and professionals who can build useful applications. If builders of all kinds start working together more, the potential for Web3 is limitless.

Attracting developers: Offer fair rewards

Coders play a crucial role in the journey to mass adoption of blockchain. Talented programmers lead to high-quality decentralized apps (dApps) that bring Web3 to life. However, the search for reliable Web3 developers is highly competitive. While blockchain startups may not be able to offer the same salaries as Web2 tech giants from day one, they can get creative in other ways, such as offering token allocations and performance incentives.

Grants and hackathons are also important. These events provide opportunities for promising young coders to showcase their skills and secure funding. It’s important to offer meaningful prizes so that if a hackathon participant delivers a promising minimum viable product, they can access the resources needed to continue working on their idea. Overall, investing in community builders can pay off in the long run for the growth of Web3.

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Empowering businesses: Help them think differently

While creating branded NFTs as collector’s items might be fun, this is just one of many ways blockchain technology can add value to companies. NFTs, DeFi, and GameFi are just scratching the surface of Web3’s vast potential, and there is still a huge opportunity for companies of all sizes to get in early on the blockchain revolution. For example, businesses that process credit card payments can potentially reduce their overhead costs by integrating Web3 solutions.

Industries like real estate, logistics, and medicine could also be the next use cases for decentralized technology. Consumer brands can even use crypto rewards as the foundation for next-generation customer loyalty systems. But whether you’re a local entrepreneur or a multinational corporation, successfully transitioning to Web3 is not as easy as it may seem.

Crypto veterans need to support and educate new businesses with the experience and know-how needed to succeed in this exciting decentralized world. To keep costs down, Web2 businesses should explore streamlined and audited solutions from third-party contractors instead of developing their own blockchain products from scratch.

Onboarding users: Focus on user experience and security

The general public also needs education and user-friendly solutions in order to widely adopt blockchain technology. This can mean leveraging the power of the blockchain while making it appear invisible to end users. Additionally, Web3 supporters need to work together to challenge inaccurate narratives about crypto and demonstrate its potential and security. People are driven by economic value, but they may be hesitant to try new products unless they have peace of mind and a smooth user experience.

One way to achieve this goal is by making the technology seamless for end users. Delivering an intuitive user experience is a delicate balance, where developers can potentially offer the option to create their own non-custodial wallet if desired. While storing 12 or 24 words securely may not seem difficult, it can be a barrier for non-crypto natives who are used to setting a simple password they can easily reset. A hybrid approach can help new users get started with a new dApp without having to write down a long seed phrase, while also giving them the opportunity to adapt later once they understand the value of self-custody.

In terms of security, there are several ways to dispel the misconception that cryptocurrency isn’t safe. Two-factor authentication can help stop hackers in their tracks even if they manage to somehow access your wallet. Hardware solutions are also a useful way to minimize risk from bad actors. Education about the risks of Web3 is also crucial since scammers are always willing to exploit the knowledge gaps of new users.

Web3 grows when we work together

With the right funding, expertise and user experience, the blockchain revolution can uplift people from around the world in many different ways. This current moment is pivotal, as the bear market is a great time to build the foundation for onboarding the next billion users to crypto. Web3 believers must work together to provide key resources and overcome resistance from governments, banks and big corporations. By conquering these hurdles, we can help kickstart mass adoption while still maintaining the original decentralized spirit of Web3.

Wolfgang Rückerl is the CEO of Istari Vision and Entity.global. His expertise is in Web3 startups, DeFi and GameFi.

This article was published through Cointelegraph Innovation Circle, a vetted organization of senior executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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