It amazes me how many people still think the crypto/web3 industry is some sort of scam or that it’s a fringe industry not worth paying attention to. With a near $3 trillion total crypto market cap, 100’s of millions of crypto-asset owners around the world, and an extremely active on-chain ecosystem, it’s impossible to make any sort of case against this technology and those that attempt to either don’t understand this industry or are intentionally trying to mislead people.

As you can see in the tweet above, Mark Cuban very clearly articulates one of the best elementary use-cases we have for this technology - the ability to take out a loan without having to touch a traditional finance entity such as a bank. I think we all still take for granted just how revolutionary something like DeFi is and how misunderstood it still is by those outside of this industry. To me, DeFi disrupts traditional finance in the same way that email disrupted snail mail - it’s literally 1000x better in every way. The substrate that DeFi is built on, the Ethereum blockchain, enables global movement of value at near-instant speeds with little costs (at layer 2) - this is just one of the most basic use-cases and it already blows TradFi completely out of the water.

The crypto detractors also like to commonly make fun of how “expensive and slow” Ethereum is to use and how it’ll never scale to global adoption. Of course, this misses the entire point of what Ethereum layer 1 offers - a decentralized, always on, trustless, permissionless and open substrate to build whatever you want on it - this obviously doesn’t come cheap! I also don’t expect the detractors to have any sort of idea about how Ethereum is scaling with rollups, sharding and other improvements (that would require them to actually do research) - so why even bother listening to them at all - would you listen to a football player lecture you about open heart surgery? I sure hope not!

There are often stories you’ll hear about from time to time on how there were similar detractors during the internet/web boom who just didn’t “get it” and laughed at all of the revolutionary technology being built at the time. They just didn’t see the vision of what was being built and didn’t realise how much the internet was going to change the world because they were too used to their current world. Though, of course, these people aren’t laughing anymore and I’m sure they’re making great use of all the modern technologies that we have thanks to the boom of the 90’s and 2000’s/2010’s.

I think that we can still consider ourselves early to the crypto ecosystem for as long as the dominant “outsider” narrative is one of disgust for our industry (like the disgust that people have for NFTs). Though these narratives won’t last forever and we’ll keep building better and better products until even crypto’s biggest haters capitulate and join us - that’s when we’ll know that we’ve achieved mass adoption and that’s when crypto finally becomes the norm.

Have a great day everyone,
Anthony Sassano

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All information presented above is for educational purposes only and should not be taken as investment advice.