Google's Web3 Lead Urges Crypto Industry to Focus on Business Solutions, Not Token Prices

Focusing on Business Logic, Not Token Hype

The crypto industry needs to shift its focus from token prices to real-world business problems that can be solved using smart contracts, according to Google Cloud's Web3 lead, James Tromans. He emphasized that the token itself is not the main point, but rather the business problem that needs to be addressed.

Google Cloud's Blockchain Services

Google Cloud offers a range of blockchain services, including its Blockchain Node Engine, which allows users to access blockchain data, conduct transactions, build smart contracts, and run decentralized applications.

Innovation, Lower Costs, and New Revenue Streams

Tromans explained that blockchain and smart contracts have the potential to drive innovation, reduce operational costs, and create new revenue streams.

Strong Demand from Enterprises

Despite the bear market, Google Cloud has seen strong demand from enterprises looking to integrate blockchain technology. Tromans noted that interest in leveraging blockchain to improve efficiency and reduce costs has not waned.

Expansion Beyond Finance

While the majority of demand has come from the finance sector, Tromans revealed that Google Cloud customers are increasingly interested in integrating blockchain-based solutions in digital identity and supply chain management.

Improved User Experience is Key

Tromans highlighted the importance of improving user experience in order for blockchain technology to see mass adoption. He urged developers to build frictionless solutions that abstract away complex processes, such as managing private keys.

Optimized User Experience for Wide Adoption

When blockchain technology can seamlessly solve payment, lower costs in gaming, and empower artists to monetize their work without requiring deep technical knowledge, Tromans believes it will see widespread adoption.

Web3 Mass Adoption

Tromans concluded by saying that when Web3 achieves mass adoption, it will no longer be labeled as such. It will simply be referred to as the web again.