Pay-to-use blockchains have hit a roadblock when it comes to achieving mass adoption. While the crypto crowd is willing to navigate the complexities and challenges of the technology, the average person has zero interest in dealing with the headaches and uncertainties that come with it. In order for permissionless blockchains to become the backbone of our online experiences, three major changes need to occur: they need to become free, frictionless, and familiar.
Free to use
The current model of monetizing blockchains by directly charging users is not sustainable. Companies like Google and Facebook have found success by monetizing indirectly through ads and data, rather than directly charging users. If blockchains were to adopt a similar approach, they could potentially reach a much larger user base. However, the fees associated with using blockchains, such as gas fees for each transaction, deter most people from participating.
Frictionless and simple
One of the biggest barriers to mass adoption of blockchain technology is its complexity. The onboarding process for crypto is notorious for being user-unfriendly, making it difficult for newcomers to navigate and understand. For blockchain to succeed, it needs to become as easy and intuitive to use as opening an app or using a smartphone. Users don't need to know how it works, they just need it to work.
Familiar and fun
The crypto industry has struggled to create mainstream alternatives to existing platforms like Facebook and traditional gaming experiences. Instead, it has become known for speculative trading, scams, and arguments on Twitter. The industry needs to focus on creating decentralized social media platforms, unique gaming experiences, and aligned-incentive models that replace traditional Web2 systems. Making blockchain technology more accessible and engaging for the average person is key to driving mass adoption.
It's time for the blockchain industry to recognize that the current path of pay-to-use blockchains is preventing it from becoming a foundation for consumer tech. People don't want to pay for what should be free, they don't want to deal with difficult processes that should be simple, and they don't want to change their behavior to fit into the blockchain vision. By embracing these realities and building protocols and applications that align with user preferences, the blockchain industry has the potential to silence the critics and change the world.
