A clumsy user experience (UX) is the reason the technology is hindering mass adoption of Web3.

Austin, Texas — More brands and creators are entering the Web3 space, but face bottlenecks until the ecosystem’s user experience improves, new members join, and mass adoption is driven. I’m here. CoinDesk’s Consensus 2023 conference in Austin, Texas.

“Every time you have to click through the[onboarding]process, you lose 50% of people,” says Julie Garneau, head of Web3 at brewing giant Anheuser-Busch. “The Opportunities and Roadblocks of Mass Adoption”. ” Panel discussion. “We need a technician to help fix a very important entrance ramp.”

Andy Sack, co-CEO of Forum3, a Web3 loyalty startup that advises retailers such as Starbucks Odyssey Project, said the concept of securing wallets in order to get an experience as “alien to the consumer.” I understand

Meanwhile, crypto natives and Web2 brands are striving to bridge the gap between Web2 and Web3 audiences and drive mass adoption. Chris Jacquemin, head of strategy at talent agency WME, which has signed more than 50 of his Web3 creators, said when discovering different communities through social media, “Vocal minorities within Web3 are literally, really trustworthy.” It is the basis for establishing

The brand says, “We need to figure out how to balance partnerships and relationships with someone who doesn’t exist in this space right now but needs to build it, because this is here forever.”

But Ariel Wengroff, vice president of communications at offline private key vault Ledger, said Web3 is the first time brands can build a direct and sustainable relationship with their interested audience and take direct responsibility for that relationship. I think it’s a case of

“Creators and brands should be completely afraid of today’s social communities because they can’t really control it,” says Wengroff. “You don’t actually know who they are. Any brand that says it has a community is lying.”

Looking ahead, Wengroff sees “enterprise security” and “governance” as essential for brands, including additional proof of record for products consumers regularly purchase.

Anheuser-Busch’s Garneau said, “I think that power comes when other brands learn from what other companies, including Starbucks, are doing.”

Panelists said another big impact on onboarding to Web3 is artificial intelligence, both positive and negative. “AI will facilitate her use of Web3,” Sack said. “AI creates the need for blockchain.”

“AI and its speed of movement, deep fakes, and the destruction of reality in the metaverse, or the ability to manipulate it, will require a system of trust,” he added. “And that would also require a cryptographic system to verify identity.”

But the panelists were unanimous in their concern about how AI would onboard users. “I don’t think the transition will be smooth,” Sack said. “It’s going to be choppy.”