Welcome everyone to another episode of
x-talks we are waiting for few of our speakers and audiences to join and after
that we'll kick this one off before we go live just a quick sound check from
kryptonaut and everyone else hey hey can you hear me yes loud and clear
can you hear me yep testing as well hello yeah loud and clear I'll be here
Twitter usually rugs Twitter spaces so it's best to test stuff before going live
so kryptonaut while we wait for everyone else to join would you say a
few lines regarding today's topic what we are going to discuss and stuff like
that yeah for sure so today episode we're going to be talking about creating
adoption in web 3 and that can be basically pretty much anything from
products to services to even building your own community so pretty excited
stuff can't wait to start diving in awesome that's really awesome so I guess
before we kick this one off I would like to remind everyone to join the layer 1x
discord if you haven't done so yet we have pretty interesting stuff going on
there not just that but we are gearing up for mainnet launch as well and plus
a huge shout out to excohost for setting this one up and as always I'll be on the
lookout for questions in the comments section so if you guys have any we'll
take this one off towards the end or in the middle Cody passing over to you
thanks I appreciate that for anybody that's tuning in my name is Cody I'm the
chief experience officer at layer 1x layer 1x is a a blockchain that is
focused on interoperability natively we do it completely 100%
bridge list and going through today looking at today's panelists it looks
like we've got quite a good lineup today so I'm kind of excited to have a great
discussion go down a couple of different rabbit holes but before we do please
feel free to take 30 seconds and give us your elevator pitch about you and your
project or your protocol that you are currently on
okay well I think I can kick off I've been on a few of the spaces previously
and I recognize quite a few of the speaker so thank you for having us my
name is no barra and I'm looking after the global communications over at
Gensokishi which is a 3d MMORPG and a metaverse with UGC or you use a
generated content building options integrated into it so if you haven't
checked this out please make sure to do so we're based on polygon and it's quite
easy to sign up we don't require any prior investment so you can just play
I don't know for it we do we have a specific order I can go next it's like
musical chairs yeah I'm Katie I'm the founder and CEO of fabs we're a web 3
user acquisition company so we help projects basically get users through key
channels like KOLs PR branding and go-to-market strategies we work heavily
in the DeFi space so very interested to hear the conversation today and all see
some familiar and some new faces ready to kind of dive in so thanks for having
me and looking forward to meeting and hearing the rest of you over to you Adam
thank you very much yes my first time here on layer one today so thank you
very much for having me I am co-founder spark.xyz we're building what we want to
be the easiest way to take crypto payments working with a lot of web 3
games products platforms our biggest sale was portal coin if you sold if you
saw that in December as a 25 million dollar sale of we we handled that for
them often we're basically making it easy of people to use products and pay
for items and drive users to games and services in the easiest way possible so
it might be quite appropriate for this topic also a big interest in web 3
gaming I've co-founded a web 3 gaming studio before called formation games
releasing a free-to-play mobile game called club entering beta now and
looking forward to listening to all the other speakers today as well I guess I
can I can jump in here so I'm Matt I'm head of marketing at say that it's
great to be here thanks for having us really enjoy these these spaces so if
anyone that hasn't come across Seder we're a foundation for web 3 data so
basically what that means is we're a base layer that's acting as a modular
data network that can plug into any blockchain so chain agnostic layer one
that's built to be a hundred percent permissionless and supported by chain
abstraction which I think is really cool for the topic of today as well because
we'll dive into this a bit later but when we think about adoption things need
to be super accessible and data is one of those things that there's a lot of
the conversations around accessing data and basically our mission is to make
that seem very seamless using modular design frameworks and a few other things
that we can chat about later but yeah great to be here I can jump in next my
name is Travis over at Vayner we are an up-and-coming L1 where we like to say
we're web 3 for the billions adoption is really mainstream adoption is really
kind of like been in our DNA since foundation and what we kind of built up
from creating a more seamless journey for both users and brands as they come
in and into the space we like to say we want to meet the market where they
already are as opposed to kind of creating a new market for them to learn
or understand hey there my name is Crimson clad and I am a core founding
co-member with the hive blockchain which you'll see there is a listener it's at
hive blocks here on X basically the hive blockchain is one of the longest running
truly decentralized open source free to use no gas fee blockchains out there it
sounds like a lot of buzzwords but what it really is is a giant community of
crypto natives as well as complete normies who stumbled into our space
we're using social phi game phi and defy to power a vast information sharing
network what that means is all of your social relationships social graph are
kept on chain and they're treated with the same value as financial
transactions we believe that web 3 has to be seamless and smooth and when your
powering the things that people do on the internet having them pay every time
to whether it's play a game or hang out with their friends really defeats the
purpose of building up free and self sovereign assets and an identity so
that's kind of what hive blocks is all about and community is the biggest part
of our DNA with a social graph and users participating in web 3 social since
2016 actually well everybody this is a Jeffrey Moniz co-founder of cyber
elite thank you guys for having us here a little bit about us we're a massive
social application with competitive features for gamers embedded with an AI
anti-t technology and a biometric player verification we started this journey to
stop the plague of cheating in online games creating a level playing field for
all again thanks for having us
hey everybody is Jen Marie I am a current hug artist and a content creator
as well as a member of the rug radio down I'm also a music artist on on
chain so I have music that's on sound and Zora and currently right now my main
focus is at hug studios where I'm an artist creator why bring artists on
chain whether it's a musical artist whether it's digital artists to really
create a pathway for them to get their art out to the masses as well as host
innovation laboratories which is currently going on right now we're
currently instability AI learning how to you know animate our art and learn new
tools to just make the art immersion experience pretty cool so I'm super
excited to talk all things creating adoption and web 3 especially when it
comes to music and art hello there my name is Russell I'm the founder a bell
cage we're a web 2.5 gaming platform and we specifically target sort of indie
games and helping them get to markets and we have a blockchain sort of
infrastructure that we're currently developing and a mobile app with some
novel social features up and coming hopefully releasing later this year I'm
looking forward to being part of this conversation today I think there's some
great topics of interoperability that can be covered so yeah look forward to
my name is Julian I'm the founder of Masma we're building the most globally
consumer centric web 3 ultra app ever made so we're gonna be seamlessly
integrating web 3 and defy into everybody's daily lives so now basically
degens or beginners can easily experience web 3 without pain fear
confusion and isolation we focus heavily on account traction and cross chain and
just a whole new completely different user UI UX experience thank you
all right I think that's everybody yeah definitely some new faces in the crowd
in the panelist selection today so this is going to be interesting for those
that are new welcome for those that are returning welcome back as always love to
have everyone involved and so basically let's jump right into the questions
topics for today again if you are just joining us my name is Cody on the chief
experience officer at layer 1x and today we are joined by many experts to talk
about the adoption creating adoption and web 3 and so with that said let's jump
into our first question the first question is is kind of around how users
want freedom of movement between the different platforms and with that in
mind there are a lot of challenges with trying to promote your own projects and
products and services on the specific chains that you are on it sounds like
there's quite a few different people that are on a lot of different chains
here how how do you think that that would affect once interoperability comes
into play do you think it's going to be harder or easier to market your product
services or protocol to not only your own chain but to other chains in the
future go ahead and just dive in there's no hand raising or anything like
that so okay perfect I was sure if we were doing hands or not yeah no
interoperability I think it's huge it's something that is really needed like
right now we're all looking at you know individual chains and we all have you
know the ones that were bigger fans of or play around moron and other ones that
we kind of stay away from or maybe not have as much interaction with but you
know how we look at blockchain it's really just a tech layer and at the end
of the day that that's all it really needs to be to to enhance and provide
all these awesome benefits and when we could get to a point where you know when
I go into the supermarket and buy a bag of chips I swipe my Visa card and I and
I walk out the door my chips I don't care how the transactions process I
don't care what servers is being put run on or what kind of system or tech
it's being done and when we kind of get to that point with the mainstream I
think is when it becomes much more appealing and much easier for for you
know both the application we're building and for the consumer in general because
at the end of the day the consumers are coming in for your product they're not
coming in usually for your tech or for the layer that your tech speed run on or
anything like that they're coming in to fill a need for something they may have
and that may be like a new experience it may be a new tech need at a business
level or commerce level or anywhere there on that spectrum and once we get
to that kind of point everything works a lot more seamless I think it's just no
brainer that it opens up all this new liquidity and enlarging your market
overall for your product just in general 100% agree with that and I think
like to the pillars that need to be highlighted here is like when we talk
about adoption one of the first things that we should be thinking about is that
people come towards a product generally because it has some kind of convenience
slash benefit and if these things are chunky and janky and hard to use and
you know you're trying to pay for your bag of chips and that was just mentioned
but then you've got to get your phone out and swap your blockchain and bridge
your assets over because on that Visa card it wasn't there you know maybe the
state that we're at right now it just becomes very inconvenient and I don't
even think at this point until we've sort of industry-wide nailed that down
or for a big part of the industry we need to think too much about adoption so
it's more about getting behind the scenes and making sure that the the
flows you know there's lots of new sort of concepts coming in at the moment such
as chain abstraction that for the end user experience eventually do they do
they really even need to know what the blockchain is do they even need to know
the different blockchains are we just segmenting our users by referring to all
these blockchains I'm not sure you know I think if the end user experience just
gets their benefit and their convenience we'll see adoption yeah so that's
actually specifically what we're actually we've already built at asthma
so we built an account abstraction prop product which resembles identical to
applications like PayPal Venmo etc there's there's not one lick of gas fee
transactions like like an on-chain transactions blockchains wall addresses
none of it we have a seedless infrastructure as well so that's also
part of like you can build with the kind of traction so the users just feels as
easy as just sending up for a regular PayPal application and then we have a
thing called cash balance which is basically holds stable coins but the
user doesn't realize that and from there they can do whatever they want we have a
thing called smart exchange it basically aggregates every single chain liquidity
pool all this spot routing and etc and gas fee abstraction so it feels as easy
as just you know you want to buy any token on any single exchange you just
you know one click will cross chain it or if it's on specific chain whatever and
it looks as easy as I want to buy you know I have $100 in my cash balance and
I want to buy $10 with the latest shit coin it is $10 you know include the
transaction fee which is gas fee and then add those two sums together and you
just pay directly with stables so yeah that that's definitely you're gonna be
seeing a lot more of that with the kind of traction stuff coming there now so
this is a part that really quite excites me oh sorry whoever I just stepped on
like a jerk sorry that's okay you go and I'll and I'll go after this is the
part that really excites me because I think what we miss out a lot as builders
in the web 3 space is that connective tissue is incredibly important and of
course we're so early that we are building sort of the bones and we have
this foundation of many different chains but in a lot of cases you know you've
got an arm bone over here that's meant to do one thing and you've got a leg
bone over here that's meant to do another thing and however that's not how
you build a whole functioning body right so as silly as the metaphor sounds the
services that are going to kind of come and pick and choose different features
to combine them into an experience for an end-user that solves a problem for
them as mentioned or makes something more fun or creative but gives them the
benefits of decentralization is of course where my heart and sort of
everybody that's involved with hive is really really focused and and so it's
quite funny coming from a blockchain where and we we've already been
operating there's no ICO there's no founder token there's no founder it's
completely community run and developed because what that means is we started
with utility first and as this blockchain that's kind of really focused
on presenting these tools outward and just giving them to people to use for us
we're often kind of reaching out and saying hey other blockchains that do
something really well to do with d5 or something really well to do with
settlement you know we've also got some capabilities with text storage on chain
things like custom JSON can function almost anything completely and you could
pull it completely easily from our public run RPC node infrastructure
there's a lot of different ways to leverage all of these social
interactions that are already there and so for these ideas of connective
account abstraction or pulling information that's voluntary which is a
big thing in web 3 and pulling that into your services here's a giant database of
people who are already at least mildly familiar with crypto who are bringing
the web to sort of hobbies into play whether that's using social media which
is a big part of relationship building and business building playing games you
know past settlements between friends these are the things that kind of pull
them into this space and they don't necessarily have the decentralized
values but doing them in a web 3 way gives them those values which means
they're gonna be really interested once they learn about what's behind the
scenes yeah no I completely agree they're going back to Vayner's point is
that you know blockchain is just a technology level like no one gives a
shit I think about blockchains like cellular towers right like you know
Roger Bell but we have to just use them but we actually at the end of they use
the mobile phones right because they experience the ecosystem experience a
personalization of the phone to solve whatever problem we all have in our
daily lives and then the most important part there is actually building the
experience so that we can build relationships or something that's like a
low-hanging fruit usually it's like a high-frequency low low-margin activity
just as you know for Twitter like they weren't making money left for a long
time but it's just the the network effects and you know messaging X Y & Z
that's quite valuable to us as humans so going back to exactly what we were
doing like you know this goes back to product 101 with mass mass that so we
actually have all like we have like three main things that we want target to
help solve onboarding we have three phases solve web view onboarding which
is reimagining the wallet it's no C phrase email password insured as well
it'll be one of the first insured wallets on the space and that's not
custodial it'll have and then no web to jargon right then from you move from
there is the exchange bar because people like to have a wallet that's the entry
way into web 3 CZ and Brian themselves have both claimed that they don't have
that experience to they both claim that the wallet is the way into web 3 but
they themselves have not been solved that problem so it's it's that the wallet
itself is actually not supposed to really you're not supposed to care about
the wallet it's supposed to be into green into the experience right so then
the second part is if you're in d5 is yes of the exchange part so that
means that's because like using a Dex is complicated you gotta do a lot of
mental math you gotta you know remember that the native fees you gotta like when
you're swapping with me looking at the actual Dex interface itself right it's
like just a bunch of numbers you gotta like do it like you need to have so much
prerequisite learning to understand liquidity pairs I'm up to pair you know
USD with this token first for highest liquidity and then like you know I mean
so but so that had to be refixed as well so that is identical to like Robinhood
or you know any other web to investment platform we've used which is literally
just cash to a stock back from the stock to cash and then whatever from cash to
whatever I want by next and then the third part which is very important
because where we're going right now it seems that super apps or like what we
like to coin in web 3 super app is web 2 right in web 3 we coin ultra app the
reason why is that you're like you were talking about it's called it's like
headless marketplaces right or what I like to just say for fun the
ultra ization of decentralized applications which means that a web 3
application can literally go anywhere because and grab for any tool because
you know smart contracts are available data is transparent you just create
these awesome applications like which would take years for a super app but
like literally like a month web 3 right so you have a lot of these like more
advanced tool sets or just you know liquidity pool whatever but going back
in the third stage that we solved is actually integrating a Twitter discord
and clean market cap all to an application so that now we're running
these spaces or someone talks about specific token and then automatically
goes like you know the user's journey goes directly to the token and you can
buy the token in one click you know whoever's taught whoever was talking
about it gets affiliate fees then you get a little more like crazy and move
into like the we chat model where it's like there's businesses now on Shane and
then they want to maybe make some posts or something similar to like the far
caster frames but more like on the we chat side but I do 100% agree that it's
it's the user experience to bring the user in so that's you know through some
type of low-hanging fruit low-frequency activity but then do out that journey
they're like hey I saw this someone talk about this token like Dogecoin with
Elon Musk whatever that's like that's how actually I got into web 3 but then
you're like oh whoa this is really simple to actually buy this token and
then you buy it you get like a 10x or 2x whatever and then you realize well
this is actually something I want to invest my time in and then you kind of
seamlessly start to learn more about web 3 or cryptocurrencies so there so as I
agree with some of this adoption talk some of it's straightly like directed
towards the gamble phi defy everything and and yet a lot of like the gamers
that are going to come down to the platform of web 3 that they don't care
about investing they don't care about this stuff they just want to play their
games they want it to be a very simple experience of clicking into their smart
account grabbing their game and playing sure you're gonna get some people that
are interested in trading and doing all that stuff but majority of the people
don't give a fuck about that and I don't mean that rudely they just don't care so
what we need to do is make the onboarding experience the most easiest
way we can what I mean by that is under three clicks phone email right into a
smart account embedded accounts is what these are called account abstraction
embedded accounts this allows a user to even take their wallet from that
embedded account put it into metamask so you're not it allows account
recovery allows all this safety to the reality is web to people users it
doesn't matter if you're from Facebook to the battle.net you need to be
educated on what web 3 is so there's an education value of teaching your
community your community what your tools are and what you're going to do for them
in this case for instance password stuff how say how we all know here in
this panel how easy it is to you know click something or give somebody your
phrase and then you lost everything well it's really easy to give your web 2
password off or get do the same thing over on the on gaming side or anything
too so it's just about education of not doing that so we just got to make people
aware that you could lose your ownership of your things now the key word here is
losing ownership comparable to losing centralized account that yeah you get
back but it's still an account so there's just an education thing too yeah
well I mean DFI if you've never bought a token before I'm sure you started
experience through tokens first but generally speaking I mean DFI is going
to drive the space and then that is pushing the narratives for what you're
talking about a kind of strike you know seamless onboarding I'm kind of
traction to resolve a lot of the experiences like if we use our
technology today and I was a gamer too right I mean I understand all that
process you don't need see phrases anymore for you the video games you can
actually look at the application what wallet is it there's a seamless wallet I
forgot the name of it but he uses a comp traction and it actually allows the
user experience for video games to be a lot better because you're using session
keys now so you don't assign to a total process email password so you don't have
to worry about seed phrase or losing your assets there and then there's you
know companies like metakeep dot XYZ they're gonna provide that seamless
experience for the gamers as well no seed phrase and as well the assets of
the video game should be insured as well theoretically so I mean that that part
is not really the the issue I think it's the thing about web 3 gaming is
that everybody does understand how difficult web 3 gaming like how
difficult triple-a games are to build like that takes three years or even a
web 2 company thing about web 3 is everyone is building games and then
they're tying the tokenomics into it and like gamers don't give a shit about
money I 100% agree because the difference between a gamer and investor
is an investor doesn't give a shit to make a million dollars whether it's six
months or like one minute I just want to click one button a gamer is different
if a gamer if you were to if you were to like add a hack to like Skyrim or one of
these you know going around PC you like knowingly tell yourself like if I hack
or mod this game right now I'm never gonna play it again because gamers think
differently they like they actually enjoy the intrinsic value of challenges
right that's why they play it like they want to escape reality they want to play
this challenging gaming gives them intrinsic motivation or value value
whatever so in web 3 gaming literally it's fails every single time because
you're doing like oh we have a token launch for a project and literally
everybody hears a d5 you can't you can't ignore it the reason why we're here is
for tokens it so I agree with you but that's just because people are building
from the top down instead of from the bottom yeah so as I agree with you it's
it's more about principle of the people who are leading that that stuff and some
some business logic is just wrong right now and it sure it worked in 2018 because
it was all new but now the communities are here and that that's the big thing
of course yeah well then it goes back to the exact same point you just said oh
I defy the scam there's also gonna be the same bad actors in that spaces fall
right you're you're watching are you building on right like not every not
everything is a scam or a Ponzi it depends on who you're who who who in the
bell curve you're dealing with the same thing we're gaming same thing for DeFi
the the best thing I think for right now for web 3 onboarding is like literally
figuring not doing a token launch pad for a project but like figuring out how
do we build APIs or how do we build solutions to integrate with AAA games
and start there like for example GTA I'm not people always kind of talk about how
the GTA might have like some type of crypto element to which would be fucking
huge like if GTA had some type of really small crypto thing you would have like
insane like adoption because they'd be like using it that you know you have a
wallet connected maybe they do they're like they're doing heists and then you
know their bank account has a little bit of crypto they can you know I don't
send it out but that's that would be where I think is going to be the 20%
that does 80% of the value for oh go ahead sorry I say I obviously we can't
deny that DeFi leads the space because money often pushes spaces forward like
that's just that's the standard for sure but I actually have to disagree to a
point that that's the only sort of focus that we should have you're spot-on that
most games being built with tokenomics first are of course seeing again the
dollar signs they're coming in here and they're trying to force-fit that sort
of financial structure and then be like oh shit we have to make a fun game
around it but the flip side is that there are a ton of people who are you
you hit it on the head by saying they're in challenge there's an intrinsic
motivation that goes beyond money and the crypto space is incredibly small
right now and that intrinsic motivation that's here and present for the most
part is around DeFi is around you know the magic money internet casino like
manna from heaven kind of thing and has you know taught people to think
differently the flip side is there are a lot of people that are intrinsically
motivated by web3 values they just don't know it and so these match ups kind of
happen and I can say I'm one of them you know you said oh you probably entered
the space through a token it's true eath kind of brought me into the space
and I bought my first eath at $15 but it didn't keep me and hook me until I found
a place that was like hey but do you want to blog and you can't be de
platformed and yes you can also earn a bit of crypto and that first idea of
immutable content self sovereign identity and relationships that couldn't
be taken away from me became really important as I made my sort of exodus
from Facebook and we have waves of people now here who are on X or Facebook
or socials or even games who have found oh the account that I ground in Wow for
X amount of years they took it away from me and all the assets that were attached
to it they were owned by someone else or I said a no-no word on X and my post
disappeared and my account was locked but that's the main motivator for my
business and now my business is nuked so there are a lot of things that when
you start talking about the web 3 space and some of the this stuff around gaming
brands social defy financial they all kind of come back to there are intrinsic
motivations that go hand-in-hand that you can present to the people that money
doesn't work and that's been a huge part of growing you know both hive as a
blockchain but also just the people who are ready to embrace web 3 the big
bonuses once they get it they're evangelists for life and they start
teaching their friends so that peer-to-peer connection is going to be a
really important part I love this game I love this abstracted wallet that brought
me into web 3 I love this social platform let me grab my buddies that's
you know where people gather marketplaces form and that's the core of
kind of where we're at now I think you hit it I think you hit a good point
right there and you know when you talk about that intrinsic motivation right
because crypto is still such a small community and so new for a lot of people
they're relying on people that they trust and they have that emotional
connection to for them to basically help them guide them mentor them through many
different aspects of the complexity that we already have with with crypto right
now and I agree a hundred percent being a UI UX designer for two decades it's
it's one of those things that is very close to my heart and and I'm very
excited with the upcoming years this year and next year that there's a lot of
crypto projects that are fully focused on user experience and trying to solve a
lot of those problems for onboarding and I like to use the term keeping
things under the hood I use the analogy of the car when it comes to the
complexity of describing crypto to non crypto people when you get into a car
there's people that just put the key in the ignition turn it and expect the car
to go to get them from point A to point B and there's people that generally know
how an engine works they want to know how an engine works they know the ins
and outs of it and they want to get into the technical details and that's
perfectly fine but you know we need to take a step back and look at that and so
that I love the discussion around around the user experience I kind of want to
shift the discussion a little bit if we look at the true ethos of what web 3 is
designed to do it's all about decentralization it's about users owning
their data and then it's also about basically changing how we interact and
engage and there's already been some talk around that but I want to focus in
on the user-owned data so with that being in mind it's kind of the topic
there how can we best explain to the average user or non crypto person about
putting an identity out there having them own their own data where they've
been told that it's fully anonymous and and trying to bridge the gap there I
think the the first thing that's a really great question but I think the
first thing for a non crypto user so if we're going to focus on non crypto users
we need to lead them in with some form of entertainment some kind of benefit
and that convenience because I think we're very
you know the the wallet even just the way that a wallet's number is put
together the alphanumeric code it's nothing new to all of us here and I
think we forget that for the non crypto user when we bombard them with this kind
of like content narrative and message first and that it often just pushes
people away you know and it becomes in that realm of unfamiliarity it's not
intuitive enough for them especially if we're speaking about getting you know
that those people in who are going to bring their community then needs to be
kind of familiar and benefit-led first so I think opening the door to them in a
way that's familiar whether it's gaming or whether it's DeFi you know not to go
back to UI UX and all those things but just making sure that those things are
seamless those things are all very very familiar and then as they're going
through the benefit you know in gaming I worked in gaming for two years and one
of the core pillars that we always use was time to fund and the other one was
time to reward as well and then getting people in and getting them comfortable
in the space and then bringing those messages forward oh by the way did you
ordered for sharing select data that you choose or whatever it might be but we
need to open that door that's benefit-led first and and familiar and
then bring that narrative in in my experience in converting non crypto
people yeah I mean I think when it comes like data it's really tricky because
it's something like we all know and even people outside the space like theoretically
they know like I should be protecting my data you know my data can be vulnerable
you know my mother for instance she can get her email hacked she can have you
know her phone hacked her bank accounts hacked everything else hacked and then
she'll still download the next you know app on her phone that gives permissions
to every single thing and reads every bit of data you know and continues to do
that and we continue falling in that same trap and a lot to what uh it I'm
gonna pronounce it wrong probably but Seda or Seda had said is like you know
kind of starting to create it where it's familiar you know creating these
systems where people understand them when they first come in and that goes
you know a lot kind of like he pointed out to the UI UX where you can go in you
don't need to like get confused or go watch YouTube videos or anything of the
sword you can kind of go in you can figure these systems out for whatever
the the business program platform may be and slowly kind of start you know
educating people towards that and letting them kind of slowly take steps I
know like for myself when I first entered the blockchain space like data
was not something I ever thought about you know a lot of the things that I
think about now and interact with now and that are very important to me now
we're not things that were even on my radar at the time when I first you know
bought my first cryptocurrency and first you know jumped into the crypto game but
but they were you know kind of revealed to me later through their experiences or
through discussions or anything of the sort so you know really creating these
systems where it starts to make it make sense because I think we still need
that aha moment as a society and we can go around and tell everyone like hey you
need to protect your data you need to protect your data and they're like yeah
I got lifelog I'm fine and it's on their way and you know people need to come to
that kind of understanding I think a lot on their own and have those kind of
experiences to where they see wait this really is a better way and once they can
you know experience it's a better way on their own as opposed to being told
it's a better way it'll start clicking and more and more people and I think as
that door starts to open and more and more people start to understand it'll be
that way will grow you know because you'll have self educators out there
you'll have people like me that's like hey you know did all this my data mom
this is why you should do it you know my brothers this way you should do it then
my brothers my mom are telling their friends like hey here's why you should
be doing it you know it's better for XYZ reasons but but really kind of find
that aha moment and not just telling people like hey protect your data
because of this because that's just I don't think that's going to work and it
hasn't worked and no matter how many times people are vulnerable with their
data they continue to do so at least right now in the kind of society we live
in so one of the ways that I kind of approaches a often I'm asked to talk
about this topic because that's kind of a big thing at the core of Hive as well
as a self sovereign identity and so protecting your data huge obviously we
know that today's world is absolutely everything is a threat but there's also
the flip side and that's teaching people that they're valuable and not valuable as
a moneymaker to a giant conglomerate to a corporation but helping people
understand that when we're talking about data it should be voluntary it's as
simple as that you have choice and web three as scary of a concept as it is
overall is about that ownership we you know a bunch of speakers have taught you
know touched on this now the big thing is hey by the way you get to choose what
goes on the blockchain you get to choose who you interact with you get to choose
the games the tokens you get to pick it's voluntary Facebook isn't gonna
force you to put in X amount of info about you you know your you don't have
to be KY seed if you don't want to be maybe that's not a part of your journey
or maybe you want to build a completely separate identity here I am on this
space I go by Crimson Cloud that's not my name but most people know me by that
because the totality of the things that I built in the communities that I've
interacted with is attached to this name it's a wallet address it's a history
that I choose to create and we're doing that across a number of different spaces
often tied to wallets and so that's kind of one of the biggest parts I think
that will come back to the interrupt interoperability part is that these
self-sovereign identities that you're creating across blockchains will be
something that will be gathered into one place you will control that repository
of information about you so it's not just protecting your data in terms of
keeping yourself safe and not having it hacked or taken away from you but it's
also just recognizing that as a participant in web three in a
relationship whether it's with a business or another person it's
voluntary I'm in control of me I'm in control of what I do and the data that I
provide and for some people that's going to be content creation for some people
that's going to be game assets and for some people that's going to be I am
going to be a mysterious shadowy super coder and speculate on tokens and all of
those things are fine and that's what's kind of cool about our space but is any
of the act hey guys important like that's one of the things that we're
talking about is data and ownership and everything else but how many people does
that actually affect yeah you talked about this problem that you need this
huge solution and we all tend to talk about it a lot but how many people does
actually affect like you mentioned a word of warcraft earlier now you know I
first I played that in 2005 2006 my account is is still there so this you
know this data that you talk about that we need to protect that isn't actually
causing any problems for anyone right now not not the vast majority of people
anyway so when we talk about adoption you know is that really you know is this
problem that we're trying to solve actually going to adopt that many
people that's that's really the question
of adoption it is when you get somebody who wants to go oh a new social platform
and I get all these unique points the reality is it's an inherent benefit that
comes along with using a decentralized you know platform for it and you choose
the message to the people that you're trying to adopt the vast majority of
adoption like we said don't give a shit about tokens either so picking and
choosing where no these protocols come together and who you're attracting is a
product market fit and that's going to be where you see dApps brands games the
things that are built on top of that tech layer that we were talking about
earlier that's where they're going to have to do the identification and kind
of tailor their message because I think each level of this is going to look a
little different so here I am I'm talking about hive as a protocol I get to talk
to people who want to build on top of hive or leverage parts of hive for their
chain or their products but the flip side is is that is not a good message
for somebody who is making an idle clicker game or you know specifically a
shitcoin casino so I agree with that I just think if you are keeping the
benefits that come inherently in this space in mind those automatically become
add-on cells for you you can tailor your message to who you're talking to and be
able to offer them because they're a better way to build and I agree they're
not the message you're necessarily going to leave with all the time but we're
talking about how do we get you're working together and building something a
little better too. Andrew Lubon from Pulsar.ai I got I got
rugged earlier we do discoverability for NFT so we want to bring everybody on
chain as NFTs right that's the thesis everybody's going to rebuild their
business on NFTs and we're going to be an upstream search discovery piece for
that what I'm hearing a lot and I think maybe everybody here is talking their
book a little bit we probably should maybe take a step back as an industry
right the question is creating adoption in web 3 we're still tiny we're still so
zoomed in think about mass adoption they don't even really understand crypto yet
what resonates for those kinds of folks ownership sure fun is important
authenticity I like the message of empowering you right you are in control
you own it but I think there's an error here and I'm hearing a lot of it have
heard a lot of in these spaces as a lot of us are so zoomed in on what we're
building and unique use cases and I think for all of us what benefits
everyone in this room is how do we maybe zoom out and how do we make it super
easy to bring in those casual folks who are still just kind of scratching the
surface I think that's that's worth thinking about the workshop for that
specifically the theme of a creating adoption and as a you know UI UX person
as well as we should be asking ourselves questions here how did you get started
right what was what was your aha moments because obviously we are in the
bell curve either you know an interviewer early adopters so we're
obviously going to be searching for more you know opportunities to see the
differences in web 3 but it's a really important thing to first understand
ourselves why did we get started what was our aha moment I remember mine right
which is why I built my company around it was like I wanted to I want to
replicate this experience so I think it's very valuable if we all share what
was our like what draw drew us in what was our aha moment and what was the
trigger event I said you know what I'm gonna go all in and that'll probably
help you know people here then we engineer that user experience to create
adoption because this happens with protocol time we talk about all the
features you know like a blah blah blah blah they just like Matt said I have my
why can't my wild count still from 2007 like you know no no one hacks anything
only unless you do something illegal in web 2 is where then obviously the
companies and prop policies usually 90% of the time will then block your thing
that other 5% or 10% could sometimes just be mistake right I literally had my
whatsapp account like banned by accident just because I was connecting I was
doing some weird stuff and then I reached out to my friend I worked at
whatsapp and they all do sorry like that was our mistake right it's not not
everyone's coming out at you but I think we share our experiences that be you
might might be very valuable I just want to throw something in this has been a
great conversation by the way like Jesus Christ this is probably one pin one of
the best spaces I've listened to in a while so hats off to like all the
speakers so far name is Josie Baker behind spicy capital the CMO of the VC
here but I wanted to add a small little curveball into this conversation I know
we're coming to the end soon so it's probably gonna stop here after the
couple but I wanted to say I hear what everyone's saying in terms of like the
adoption teaching people that you know they own their own identification their
own their own ID their own data all that kind of stuff but mad metaverse said
something he said well you know we're gonna be showing them all the stuff I'm
gonna be teaching these people and educating them but how much of this
information is actually going to affect them on their day-to-day most
people in the world don't even know their actual rights as a human being to
the to their rights as a then what they're called by their name and this is
something that I have only recently you know been opened up to and that's props
to my partner she done a lot of research into understanding humans names titles
all that kind of stuff and we were talking about the other day but I said
we're talking she was educating me on it and she was showing me a lot of
the terminologies and then when I come to conversation in the crypto world and
we talk about this web is decentralized you know we own our data people don't
even know what their passport really is people don't even know that their best
certificate is just a receipt people don't know these things they don't even
know what their name actually is so imagine going to tell someone by the way
you own your crypto you own your data on chain they're gonna look at you like a
madman because they're gonna be thinking what do you mean I they will
ask you the question what do you mean I own my data on chain what is on chain
what's off chain what are you talking about can I see this chain can I touch
this chain they're not going to understand that they don't even know
that fiat currency is fake they don't know that the only money in the world is
gold and silver I know people are saying cryptos money as well but let's be real
okay this has only been going for the last 10 years gold and money gold and
so the only money that we have is gold and silver they don't even know that
they have no idea how long this goes back so imagine going to your mom and
telling her by the way you own your data she doesn't even know what cookies are
man so it's really not I mean especially if you're in the EU because like GDPR
already protects your data anyway so this is kind of why I was trying to get
out because that really isn't benefiting or important to anyone like that that
isn't going to create mass adoption and a lot of the problems and solutions that
people tend to give and projects there's a couple of events that need to happen
first before a lot of that can even happen one of those things is like the
running of the banks you'd have you for a lot of the solutions that people are
talking about this year for mass adoption will require the entire fiat
banking system to fail first and so I think you know a lot of that is really
really just missing the point of what you know what true adoption is and I
think one of the questions I was asked a minute ago you know was gonna go
around and ask you know what got everyone into this space and not being
funny but if anyone but you know majority of the people here the speakers
here didn't say money I'd be saying yeah cap like cap all the way like for me I'm
gonna be straight with you like what got me into into Bitcoin back in 2010 was I
found out I could buy like now I could buy illegal data and drugs online in the
in the diet market so that's what got me into it and like anyone here that's
gonna say oh no it was you know because I wanted to send you all decentralized
my business all that is bollocks like you were here for money like that was
one of the things I've got you here if it wasn't that it was because you wanted
to do something in secret and so like you know those is what's adopted us and
so for you to say anything else or for anyone say anything else would just be
pure cap I'm like so when we talk about adoption in this space we need to
actually bring something that's of value and that's actually gonna benefit people
that they can't just do already with fear like that's that's what utility is
for blockchain so yeah anyway yeah you're completely right be careful you're
gonna you're gonna you're gonna criminalize yourself
it's still good man I'd rather be truthful in this space you know that's
one of the things that ruins this space is like a lack of honesty so yeah come
out straight of it you know it's a safe space just keep that in mind I would
like to say so the best way to see how web through will actually adopt is look
at chat GPT right you create such an amazing fucking product that it's not
the product itself that sells it's the word of mouth right because marketing
does not work for early majority right we are innovators and early adopters we
see an idea we want to create be creative we want to join it early like
we're okay with seeing things but we can differentiate you know through our
ideas and bubble about how web 3 will emerge early adopter I'm early majority
is one we solve the UI UX we solve like better use cases we understand how to
move through this you know the storytelling or education whatever but
there's going to be a product which then is so amazing and you don't know
anything like it just feels like a regular application but now you can do
something that you were not able to do previously and unlocked a whole new like
a human ability for you they're like oh my god I've never been able to do this
before right which is part of interoperability sending money across the
world like there's me so something's gonna happen so amazingly in a product
that you're just gonna want to talk about it as your friends and that's
actually how early majority actually gets adopted is that innovators usually
bring in the early adopters and then the early adopters go crazy and then to
cross the chasm to early majority it's all word of mouth so when the product
once once something hits off in this where we are right now we're actually in
the cusp of it we got the Bitcoin going to 100k soon we got all these
amazing products coming out one of these products are gonna come out and
basically you're gonna want to share with your friends your family you're
just gonna talk a lot about it and then that's gonna like we all do that now
right like blood thing is like like spicy was saying I'm not gonna go walk
to my mom say hey download metamask you know go through the C phrase you're not
gonna want to fucking do that but when you one day you're gonna use an
application like oh my god like this does everything decentralized
applications can do but like I know that my grandma it's grandma certified
grandpa certified whatever and so that is actually when adoption is gonna just
blow up when like the product is so damn good it's already solved all of what
we're talking about here but in now in essence of something very beautiful and
especially as a UI UX and then I'm you know crypto not gonna agree to this is
that we can all talk about ideas and be like hey whoa like I want to solve web
3 onboarding but the difference the thing is it's ideas are dumb a dime a
dozen the hardest part is figuring out how to actually day on day execute that
so that it actually becomes realized right just like the chat to BT like that
unlocked like human thinking and creativity like that was nuts right now
with web 3 it's gonna unlock something different it's gonna unlock try it's
gonna unlock some type of like new ability for humans to do something and
then it's gonna be so blatant to us and I think that is where the adoption is
gonna it's gonna kind of happen but yeah so that's my thoughts about that and
I'm sure we are gonna all make that correlation just think about judge me
like we all shared that with our friends and family so now you're just gonna have
this like you know keep an eye out or create similar solution which is just so
damn good you want to share to your friends and family um you know what I
gotta jump off here in about two minutes I'm so sorry but I have a meeting that's
gonna be starting but I'll say I did not come into crypto for any other reason
than pure and wholesome reasons for the technology that technology was so I could
gamble online without my fiat because it's geo restricted and cannot put money on my gambling terms with my bank
so that was kind of my initial you know when I started like you don't really
kind of get into crypto more that was my own bridge we should all we should all
be like you know monastery like you know Samaritan rich rich ones exactly
exactly but but you know what one last point I just want to say before I jump
off is you know I think it's also important to remember like while we're
building these these protocols these applications these tools everything else
is you know most of us here we want to be our own bank we want custody of our
own assets we want all that responsibility but I think there's a
huge large segment of the world that does not they don't want the
responsibility of being their own bank the the responsibility of you know you
know having that where where they can't call a customer service number for
something going wrong so you know taking these decentralized concepts and
issues is going to fill a huge huge need this market but I think that there's
also another side of the market that that we need to constantly focus on and
that's the ones that you know require we'll need solutions that that look and
feel and may have a lot of these decentralized components but don't go
quite to the extreme of like hey now you're fully responsible for everything
kind of ideal yeah money sucks power those are the three driving things right
that's what mass adoption needs and if we can productize that and use that in
a useful way ideally combining all three that's how you get everybody on board I
think we're probably likely more in the power and the money part of those
products at the moment but what drives mass adoption those are the
psychological I'll just jump in that quickly because I haven't done so far
but it's been a great conversation I think there is that story that everyone
is in it for the money and I think that is absolutely true for the most part I
think those those early evangelists who all about kind of decentralization and
the political side of it you know I think they've been fighting a losing
battle for some time because everyone's just caring about getting your users on
board at the moment right but I don't think that means anything in terms of
looking ahead to the future I think most products most products don't solve
an obvious problem they solve or great products they solve a problem people
aren't even aware they have yet and I think that's definitely true of web 3
and I think when I look ahead to sort of five years time to me the idea that
people are not going to be trading digital assets and owning digital
currencies that is unbelievable to me that this won't happen I think if you
look at use cases like digital fashion gaming meta versus people running around
would be our headsets on already even though it's kind of ridiculous and
clunky this to me in my mind or at least I'm willing to bet 100% this is gonna
happen and I don't think it's actually that different from a lot of behaviors
we see already like steam marketplace been trading game skins for years
Warcraft gold has been farmed for years so I think it's just an evolution of
that but it all does seem very silly now because I really use cases were all
quite silly and money money motivated but I think that it's all it's all phases
I mean phase one will be this phase two early majorities when that new that real
product comes to life and then you know once that becomes daily life and you
know it's nothing to do with any of that crap anymore then late majority gets
into it and 2030 we're living a whole new transparent trustless and like good
society that that you know and there's a lot of evil that whether you will
move to because money does bring evil you know to some degree and you know
because things are not transparent you know yeah well what a great discussion
we've we've definitely come up to our time so I want to be conscious of
everybody's time but I do want to ask one question one last question and so I
encourage everybody to kind of jump in on this one if you could have if you
could magically solve one barrier to mass adoption in web 3 by tomorrow what
would that be and why I'll go first I've got to jump off we're really simple
take away all the random terminology it's not game 5 it's just gaming it's
not defi it's just finance it's not anything else it's not social files
social media just take away all the stupid terminologies we don't need them
anymore it's not NFTs just pictures on the internet it's all it is okay just
really simple and I know we're sad for everyone but we could just talk about
between each other banter but everyone for everyone else that wants to get
involved is just whatever it is so yeah that's that's how I guys it's Peter here
from boom and I totally agree with with what we just said I think you know what
we're doing a boom is essentially taking boom and taking you know crypto to the
masses by ensuring that the almost 2 billion people with our bank accounts
can actually now get connected you know and buy and sell and pay and get paid
online you know without needs to go to the banking system so what we've done
is we've actually created a super app which is in both app stores it's in 20
languages and so you know people in Africa it's a buck to can actually use
the app and we've abstracted and remove all the complex it is we don't talk
about NFTs we don't talk about anything complex we actually speak to people in
their basic terminologies so that they can use it as if they're just doing
their everyday commercial transaction so yeah that's one of the things we're
essentially to onboard at least 50 to 100 million people this year in Africa
and yeah that's how we're taking crypto to the masses and and essentially
removing all the all the all the you know distractions from from adoption for
for the masses cheers Peter I love that question I'll jump in with one I think
we talk about technology a lot I think the tougher barrier is that kind of
stigma attached to web 3 and the bad reputation it has and I think you know
if I speak to people maybe in the traditional gaming industry if you 90%
of gaming industry people you talk to them about web 3 and they look like they
want to throw up you know that that is how bad it is and you've got a we exist
in these bubbles where we think it's the best thing and I do believe it is but
yeah stepping outside of web 3 and talking to normal people about it
there's a long way to go culturally I think before it gets adopted in that
sense yeah I just I think for me you know for adoption one of the thing one
of the things that probably worries me the most is that it's going to be
forced on us by central banks by what two kilometers etc and so my only wish
really is that we beat them to the to the punch really and that math adoption
happens here and just a quick one as well in terms of like dumbing down the
terminology like definitely 100% don't do that you know the web 2 computers
everything with those technologies that we all using right now to communicate
all have their own individual terminologies and that is the reason
why we all understand what you know retweets or a comment is etc so you
don't down the language like you need that terminology to differentiate
between what is web 3 what's blockchain and why is everything else so yeah don't
don't move away from that that's the only thing I'd add to that but yeah
otherwise yeah thanks for having me along and everything so this has been a
really really good chat and yeah I have to chat to you all very very very soon I
think education is a big thing for everybody and I know I say education and
it's boring to a lot of people and reading is just make the general point
just simplify make it as easy as possible for the user to get from point
A to point B so if they're making money say if you download this app you do X Y
you make Y amount of money or you get X use case I think just simplify simplify
simplify yeah well for me I mean I'm not I don't need to wish for anything right
now I'm I'm trying to build it out so which is for me to time that's a that's
a good answer I like that crimson do you want to go she on I think we lost a
couple so anyways thanks everybody who participated in today's panel really
really good discussion I like the rabbit hole we went down before we close this
out just wanted to give you guys a big thanks as well as to remind everybody
that on the 16th at 8 a.m. Australian time or 12 p.m. or 12 a.m. UTC time we'll
be having another X talks episode number 23 that should be another good one where
we talk about interoperability and the most is is interoperability the most
valuable investment we can make in the future of web 3 so you probably want to
tune in for that one but thanks again for everybody for showing up this is a
great topic I think this is the on the forefront of a lot of different people's
minds especially projects as we go into 2024 and you know for us at layer 1x our
whole design is to basically unite projects unite chains all through native
interoperability bridgeless interoperability and so we have the
concept that collaboration is key to growth of all of everybody's projects
everybody's experiences and we encourage you if you're interested to definitely
check us out and reach out if you want to learn more as well we would love to
collaborate with you guys and so with that we will catch you guys on the next
episode thanks everybody thanks everybody bye bye thanks thanks guys thanks
thank you very much thank you