As a proud founder and CEO, I’ve engaged in countless conversations with VCs, spanning large family offices, government entities, private firms, and even low-level equity players. One recurring theme I hear is the lack of more consumer-oriented applications.
The infrastructure projects that have attracted such heavy investment desperately need new blood. Like the construction of ghost cities in China with no inhabitants, the crypto industry bears remarkable similarities. There is an abundance of layer ones, layer twos, payment rails, exchanges, bridges, etc. but where are all the actual applications that will ultimately drive traffic through this impressive infrastructure? As Charles Hoskinson of Cardano has once stated: “we have to build stuff that people can use every day”.
This is ultimately what is going to enable the space to attract mainstream traffic. The industry needs to showcase real use cases that are compelling enough for the average person on the street to participate. Crypto and blockchain technology is only an enabler and cannot in and of itself create a compelling use case. Much like an engine can be admired for its capability, it only holds meaning and value when a car is built around it. Mainstream adoption is going to be achieved if, and only if real world utility is offered to the consumer.
So, we have established there are not enough real consumers in crypto because there aren’t enough consumer applications. So what comes first, the chicken or the egg? That’s simple: the chicken was created, and then the egg was laid! “Build it, and they will come” is the famous saying, and in this industry, nothing can be further from the truth. Our space has not yet attained the critical mass required for mass adoption. Quality projects plugged into robust infrastructure will be the needle mover when it’s all said and done.
Much has been achieved, but we can do so much better. But hey, the choice is yours: invest in maintaining empty roads or back the applications that will bring traffic, grow the value of these roads, and make the entire space truly sustainable.
Empty roads don’t generate tolls — traffic does.
