I’ve been thinking about what might be the impelling factor preventing mass adoption of crypto in the space. Could it be complexity, lack of user experience, and flexibility, or a lack of regulatory framework, accountability, education, and perception?
I think in the first case, many projects have tried to make their product flexible for users. Some even went the extra mile to introduce what we have today as a one-stop solution, just like Xpress, which I’ve used and which offers a variety of services cutting across all niches of DeFi. The last time I checked, they had plans to integrate a metaverse database for her users, which I find quite fascinating. There are others, though, and I see this aspect as a key area that could tackle the problem of the average Joe onboarding the cryptospace without being faced with highly sophisticated and complex technology.
Speaking of the second instance, I’ve been wondering, and I feel that for us to get to the threshold of adopters, it will take a combination of regulatory improvement, innovation, retail-facing products and services, and greater interoperability with legacy banking, transparency with proof of reserve on CEX, and financial services, because people are not moving 100% into DeFi right away, and the ongoing saga has reduced the confidence and expectations of the space, not just with CEFI.
What other factors do you think could be the major hindrance to this move, and do you think regulation coming in is a good idea?