Is the crypto universe really collapsing?

It’s over, it’s over, it’ll be over, it’ll probably be over“Would Beckett have been right? Is the crypto-universe really falling apart after just one big decade of existence?

Opponents love him. After the crash of Terra Luna, Celsius or even the bankruptcy of the FTX platform (October 2022), many are waiting for the total collapse of the ecosystem. However, we will have to wait a little longer before burying these technologies…

All innovations fail in some way before they are widely adopted

Web3 didn’t wait until 2022 to suffer the first setbacks. Many failures have already happened with, to begin with, the terrible bankruptcy of Mt Gox (Japanese bitcoin exchange platform) in 2014, which went bankrupt after a massive hack.

“In general, wouldn’t all innovations go through a tunnel of failures before emerging stronger? »

In general, wouldn’t all innovations go through a tunnel of failures before emerging stronger? Isn’t this a necessary process that allows a technology to build sustainable uses (reviewing the user path, adjusting rights, understanding boundaries) as exemplified by celebrities Gartner curve ?

Benedict Tilloy offers another perspective in his completed chronicles: instead of talking about failure, wouldn’t it be wiser to talk about a trial? Before we find the use, the rules, the most important rights, shouldn’t we to try

So how do you regain confidence in an environment that seems to have been hit hard by an unprecedented crisis?

This crisis is the symbol of an ecosystem that has grown too fast, with too much money, too fast. Remember the Internet bubble of the 2000s that followed the same fate. Another way to look at it would be to think that it is ultimately encouraging that so many people are passionate about these technologies.

Aren’t these repeated bankruptcies auto-corrections to a market where all the players got ripped off too soon?

There would be cause for concern if Web3 were limited to speculation. So, of course, the financial and monetary aspect represents a large part of the Web3 environment and entering this bear market ticks everyone’s mind, but it is not limited to it.

Would popularization and therefore more mass adoption of these technologies be a way to limit these crashes? Understanding is the basis of sustainable uses.

If FTX users had been aware of the potential risk of the platform going bankrupt, would they have invested so much money in the platform? Of course not. They did not know or simply did not try to find out.

“We can make the choice: let this technological jungle develop or take matters into our own hands. »

We can make the choice: let this techno jungle develop or take matters into our own hands. Institutions and companies: take the time to understand and train your teams, your trainees, your managers. How to build a sustainable ecosystem if the basics are not taken?

Mathieu AgusseDirector of the Innovation Studio School in San Francisco admits that “it is above all a matter of a cultural revolution, not a technological one. The field is no longer reserved for pioneers and ultra-specialists, use cases abound in many industries. That said, the technology has yet to fully meet its uses, so the adoption curve remains sinusoidal.”

“It is above all a cultural revolution, not a technological one”

Training allows you not only: to create an opinion, to avoid mistakes (personal or professional) and above all to find time to build together this ecosystem that is still lost. Many players in training are developing to allow this democratization. Some are technical and others more general Wagliwhich works for the democratization of knowledge and the multisectoral implementation of the market.

The role of the media is also valuable at this turning point, as especially the media specialized in this topic (The Great Whale, Wagmi trends to name a few), of our ecosystem as Maddyness as much as generalists of course.

Training is mental gymnastics: let’s not remain passive in the face of these innovations. We have no choice if we want to remain players in this revolution.

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