The Day People Stop Asking "Is This Crypto Safe?" Could Change Everything

Crypto has spent years trying to convince people to use it.

Better wallets.

Faster blockchains.

Lower fees.

More exchanges.

More apps.

More tokens.

Yet after all this progress, one question still follows crypto everywhere:

"Can I trust this?"

Not trust in the sense of believing that Bitcoin exists.

That's no longer the main issue.

The real question is whether ordinary people trust the people, platforms, applications, and systems surrounding crypto.

And I think this is where the next major shift could happen.

Crypto Doesn't Have an Adoption Problem

It lacks in confidence.

Consider the use of traditional finance by normal people.

The question of whether your bank has a decentralized database doesn't pop into your mind when you wake up in the morning.

You don't read about the technical systems that underlie all payments.

You don't ask if you need to confirm 6 times before you can complete your credit card transaction.

You just take it for granted that it will work.

That is the normal crypto that must be achieved.

Not because blockchain technology can't be used without it.

However, technology cannot get to be a mainstream phenomenon until people end up growing to be afraid of the technology.

Crypto presents users with too many choices at this time.

Which wallet?

Which chain?

Which exchange?

Which bridge?

Which token?

Which contract?

Which platform?

An incorrect choice could cost a lot.

It's a part of the game if you're a seasoned player.

It's all too draining for everyone else.

The Future Might Be About Proof

It's one of the biggest trends in crypto I see is the development of verifiable trust.

Now picture being able to see the following in a crypto application:

The length of time the protocol has been in use.Duration of protocol (how long it has been used)
Whether the code has been audited or not.
The way its money is invested.The way its money is allocated.
Whether its reserves are verified or not.
The amount of risk you actually have
Has the platform been involved in any suspicious activity?

Not promises.

Not marketing.

Not influencers pushing a message that it's “the next 100x.”

Actual information.

Transparency has been a constant part of the blockchain industry's conversation.

I think the next step is, however, making that transparency understandable.

Data that is publicly available is not enough.

It is important for people to understand the meaning of the data.

The Biggest Crypto Winners May Be the Ones That Make Risk Visible

I think we don't discuss enough this.

Features are a common ground for competition among crypto companies.

More yield.

More speed.

More tokens.

More chains.

More opportunities.

But, someday, someone will win by doing something very plain and simple:

A visualisation of what might go wrong with the user.

What if there was an app that wouldn't just tell you:

"Earn 8% APY."

Rather, it tells you:

Historically, this strategy has returned 8% but the biggest risks are smart-contract failures, liquidity issues, and the volatility of tokens.

It's a whole new ball game.

It doesn't make crypto less fun!

It makes for a more honest approach.

A new, highly successful competitive edge for crypto might be its honesty.

The New Crypto User Won't Be Looking for the Next 100x

They'll be looking for something much simpler.

Is it safe to entrust my funds with this?

Here's the question to ask.

I believe the industry is increasingly going in the direction of a user not needing to cede his trust to a company.

They'll be able to confirm.

Verify reserves.

Verify transactions.

Verify ownership.

Check identification as required.

Check the procedure of a protocol.

One of the strongest concepts of blockchain is that of decentralized and secure data storage.

However, it has not always been easy for "ordinary folks" to understand the industry.

The technology may be transparent.

The experience is not always.

This Is Where Crypto Could Become Boring

And I think that's a good thing.

The future of crypto may be less thrilling than now.

Fewer dramatic hacks.

Fewer mysterious platforms.

Smaller number of anonymous teams going extinct.

Less loss of money due to clicking on the wrong link.

More boring interfaces.

More warnings.

More verification.

More transparency.

Let's implement more regulations where they are helpful for users.

Additional systems working on the background.

But that's not the same as a new bull run.

It could be much more significant, however.

The largest indicator that crypto has come of age will not be when everyone speaks about it.

It will be when people cease their talk of crypto.

They will just utilise monetary applications that are executed on blockchain technology.

And That's When the Real Competition Begins

Once trust becomes easier to establish, the industry won't be competing only on hype.

It will compete on reliability.

Which platform protects users better?

Which application explains risk more clearly?

Which wallet gives people more control?

Which company is transparent when something goes wrong?

Which protocol can prove its claims?

That competition could produce something crypto desperately needs:

A better user experience built around confidence instead of speculation.

My Take

I don't think crypto needs another million people chasing the next big coin.

I think it needs millions of people who can confidently use blockchain-based services without feeling like they're gambling with their savings.

The next era of crypto won't be defined by how many people hear about blockchain.

It will be defined by how many people can trust the systems built on it.

And perhaps the biggest irony is this:

Blockchain was created to reduce the need for trust.

But for crypto to truly become mainstream, the industry may first have to become much better at earning it.