Summary
TLDR: The blockchain industry is focused on flashy projects, but the real need is for companies to address fundamental issues like on- and off-ramps to increase mainstream adoption. Investing in infrastructure is crucial for the success of Web3 and fintech, and founders and investors should prioritize solving unsexy problems to build trust and efficiency in the industry.
Key Points
1. The blockchain industry needs to address fundamental problems such as real-world connections, on- and off-ramps, and reducing friction in order to gain mainstream adoption and credibility.
2. Building financial rails and interconnected systems is essential for the success of Web3, even though it may not be as exciting as other blockchain projects. These infrastructure solutions are crucial for reducing transaction friction and connecting users from traditional financial systems to decentralized ones.
3. Founders, investors, and stakeholders in the blockchain industry should focus on solving unsexy yet important problems, such as reliable on- and off-ramps, to build trust and efficiency in the fintech sector. Allocating funding to basic infrastructure problems alongside platform-level projects is necessary for the widespread adoption of Web3.