WHAT ARE THE PROBLEMS IN THE CRYPTO SPACE?
I was under the impression that the issues in the Web3 space were obvious, well-known, and frequently discussed. However, I’m not so sure I even know what problems users want to see solved are anymore. I feel lost trying to speculate on what people on the sidelines are waiting to see for before they feel comfortable enough to enter the space. I used to think the common challenges were scalability, lack of privacy, volatility, security, bridging Web2.0, lack of education, and the endless number of tokens beyond Bitcoin and Ethereum. While these issues still seem significant to me, the broader crypto community doesn’t seem as concerned. Instead of consolidating tokens, we now have an explosion of blockchains, utility tokens, governance tokens, NFTs, meme coins, and more. This must look immature and confusing to the majority especially for a space that aims to become the backbone of the financial sector. The industry today feels like a digital gold rush, where the focus has shifted toward selling "picks and shovels" to developers via subscriptions, SaaS, marketing, token creation, and no code solutions. The influential partnerships and dominant groups leading the industry are beginning to resemble the same monopolized system I was eager to escape. Instead of solving problems, crypto seems to be multiplying them. Nations have no ability to control their own currency in this system, nor can they determine whether other countries are manipulating it. This introduces security risks and lack of accountability concerns. I’ve personally spent countless hours learning Solidity, front-end development, and full-stack Web3 development, hoping to contribute to a shift in monetary policy control. But right now, that shift isn’t even close to happening. True decentralization is nonexistent, and the current format lacks transparency and a level playing field. If something goes wrong on Coinbase or you fall victim to a phishing hack, who do you turn to? There’s no one to call. To think that people have a fair shot in this new system is unrealistic when most haven’t even entered yet while BlackRock has essentially been running its own version of A.I. and a super computer for over a quarter century with Aladdin. It’s a safe bet that they’ve played a major role in shaping the blockchain and AI space, and they are likely light years ahead of everyone else. I’ve built proof of concept products as solutions to what I thought were real problems. I may have ignorantly believed they were innovative ideas or that I could make a difference. But apparently, all anyone cares about is meme coins and speculation. How many wallets, networks, tokens, and systems do we really need to fix the corruption in traditional finance? It feels like we’re trading ten well understood problems, ones that could be solved if governments truly represented their people. Traded that for a thousand fragmented systems, each with a thousand harder to define issues.I have been an optimistic and strong advocate for cryptocurrency since 2017, but I can no longer honestly tell people that it has the potential to build a robust financial system for and by the people, given its current trajectory. The space has increasingly become a place where many fall victim to the allure of a casino at their fingertips, particularly with leverage trading, which has led to significant single day liquidation events, one of the largest recorded was over $2.24 billion on February 3, 2025. Additionally, the theme of publicly accessible data is not evident when trying to find comprehensive information on the total liquidations that have occurred throughout the history of this space. My quest has been to understand the technology and utilize a few key solutions, including Bitcoin, Ethereum, and a Layer 2 solutions and staying defi focused. I think that is ahead of many but still lags behind the trends in the broader space. Many projects have opted to build their own blockchains, while Ethereum transitioned to proof of stake, consolidating power among stakers. Meanwhile, Bitcoin mining has become so expensive that it effectively prices out the average person from participating. Many problems that once seemed significant have been dismissed as non issues, and the community of degens and tech enthusiasts appears to have been replaced by speculators and traveling salesman type cronies, serving the large behind the scenes controllers, just as it has always been. It's becoming increasingly difficult to find communities or chat rooms that actively oppose mainstream institutions. KYC is everywhere, and when people talk about decentralization, it often refers to publicly traded companies. It's becoming more and more obvious that global elites, including the Rothschilds and the World Economic Forum, have been pushing for digital currency systems as part of their agenda.The plan has always been transparent , the nation has to dissolve as much as possible with the financial collapse and transition into crypto being critically important. Followed by getting rid of as much of the government employees as possible because big government will keep itself alive. Slashing agencies equals less loyalist who depend on the paychecks. Look at the executive orders passed within the first few weeks of Trump in office. Essentially widened federal capabilities when it comes to the homeland. The federal government can send in the military if a protest was orchestrated. This means local sheriffs and officers wont have to ignore the constitution regarding their community. The military will have no connections to the areas they are sent. It makes the direction everything is headed clearly not what I was looking for. Slash government agencies when treason trials for both sides is warranted. Crypto adoption when the gold standards and elimination of the fed is necessary with the public driving the direction of defi. Watching no one demand for the Epstein files to be released and associates held accountable is frustrating but that would remove half the government including this administration. So in my small act of protest I try and create first amendment protected, speech in written code, to build what the institution doesn't want built. Privacy and tracking denial systems on Ethereum. Find ways to transfer assets discretely and bring the digital assets off chain and into the physical. To enable more real decentralization and manipulation proof systems to challenge whale manipulation and strong holds like centralized protocols. I will explain in short some of these ideas in hopes they will be expanded on. CoinCapsule was a great creation for me as it opened up possibilities in my mind. you can find a gui at https://c-caps.surge.sh/ arbitrum and source code at https://repo.sourcify.dev/contracts/full_match/42161/0x1Bb04906C13B7B302B4d516F3E71AEC061E0dA41/sources/contracts/. This gives access to a wallet through ownership and possession of a specific token. Allowing me to load a capsule/wallet and send you a single token but actually giving you all contents in the wallet with none moving. Now I have built atop that ability and created some other protocols using that concept.
Info found at https://builder.gitcoin.co/?utm_source=gitcoinco&utm_medium=nav&utm_campaign=v2#/chains/42161/registry/0x/projects/0xcc0a9e2a6fdfb857fb5d29724a85b5f16494b68024821b4d31c8cfea586ec699, for Swarm Protocol which stands out by combining decentralized execution and oracle services into a modular system, using autonomous Capsules to perform off chain computations while ensuring on chain validation via Merkle roots. It also incorporates AI powered fraud detection for oracle data, dynamic governance that adapts based on performance, and a flexible architecture that supports expansion into industries like AI, supply chain, and gaming. Its hybrid on chain and off chain execution reduces costs, enhances security, and allows multi chain settlement, making it a scalable and innovative solution for decentralized applications. Another at https://builder.gitcoin.co/?utm_source=gitcoinco&utm_medium=nav&utm_campaign=v2#/chains/42161/registry/0x/projects/0x9843b38f02f56e82477eba81908189ac7afb41d28a71d8194ee2e537cfb37a9b, ICONOCLAST stands out by running computations off-chain, using secure encryption (FHE) to keep data private, and then settling results on Ethereum and Bitcoin with Merkle Trees. This reduces blockchain costs while ensuring privacy and integrity. It supports use cases like decentralized finance, cross-chain connections, and private smart contracts, offering a more efficient and secure way to handle data compared to traditional on-chain methods. Next is The Leverage Token Protocol automates leverage management without a middleman. Instead of manually borrowing and adjusting leverage, the system uses Aave to handle everything automatically while keeping the user in full control of their assets. Then I have PhysicalTokenTransfer protocol that allows me to take any ERC20 Token or Ethereum and use it in the physical world. Giving me the ability to hand someone essentially an ethereum off chain. Privatizing layers of transactions. I have working code and frontend, api when needed and full instructions on building these. If anyone wants more information or code to build off of email me at [email protected] and ill make more things available. All these were built to be decentralized and open sourced once a bit more built out. I was looking for some developers to join up with and find solutions to some barriers but no one seems to be interested. I have built streamlined FOIA request and petitions for political activism and other projects I either just put on hold once built the MVP or no one seemed to share in my direction. I hope Something changes the current path and if there is anything I can help with just reach out before its past the point of no return and we have to burn this system down too. Thanks for taking the time to read!
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