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More than 14 years after Bitcoin first appeared on the world stage, adoption of blockchain and digital assets as a whole has lagged despite the Cambrian explosion of industry innovation. The reasons for this are varied and arguably include market volatility and the ongoing stigma hurting the industry. A big factor, however, is the clunky user experience and the apparent lack of simplified onboarding methods.
Users don’t want to adopt obscure and dangerous new technologies, even if they recognize the potential benefits. Faster, lower-cost transactions and verifiable digital ownership are great, but choosing which blockchain and wallet to use, learning how to manage your private keys, managing your gas bills, and making transactions is something most people do. This is one of the major hurdles preventing the space from being widely adopted.
Sending and receiving cryptocurrencies and other digital assets should be as easy as sending a text message. To onboard everyday users, Web3 applications must be reliable and easy to use. A credible axiom when developing new products is, “It’s hard to change user behavior… really hard.” Using familiar behaviors that unlock new benefits is the path to scaling and adoption.
Users want simplicity
Users usually don’t need (and often don’t want to) know what’s going on under the hood. You don’t need to know what’s going on under the hood. Instead, it simply needs to work from their point of view. This is important because once users can interact seamlessly, companies can step in and start offering unique experiences that take advantage of what Web3 has to offer.
A perfect example of this comes from the recent “Collectible Avatars” launched by Reddit. This has seen unprecedented adoption, mostly from his Web3 newcomers. Importantly, the Reddit activation avoided any mention of NFTs. The assets were easy to understand and use, offered real utility to their holders, and could be purchased with traditional fiat currencies rather than cryptocurrencies.
Having a well-known and trusted company join the movement is critical to spreading adoption. These technologies need to be implemented by major industry players to increase customer confidence. This is no new revelation either. For example, PayPal gained prominence not only because of its usefulness, but also because it was implemented by established auction site eBay. When consumers saw the PayPal brand associated with what they already trusted, they began to understand the benefits it could offer.
But it takes more than savvy smoke-and-mirror marketing and big partnerships to make sure a brand wants to build in this space. User onboarding requires a whole new paradigm, at least in the crypto world. But it is actually very well known to the public.
Old solution for new problem
Despite numerous advances over the past few years, onboarding remains one of the most recurring problems for the decentralized industry, frequently standing between the Web3 platform and its millions of potential users. . This is why optimizing and enhancing user onboarding should be one of Web3 builder’s primary priorities in order to unlock the space’s true potential and reach mass adoption. . One of the most important solutions to this problem is the use of everyday technology such as mobile phones. Mobile phones are the world’s most extensive and unique global directory system, easily linking people around the world in an easy, cheap and secure way.
Many Web3 platforms incorporate third-party logins such as Google, Facebook, and Twitter to simplify user onboarding, but this approach limits access to users with specific accounts. Not to mention limited and exposed to the potential data collection techniques of big technology.
Personal phone numbers, by contrast, are more ubiquitous, comprehensive, and easily accessible than social media platforms. Even people who are indifferent to social media are likely to have a phone number, making it easy to get started with digital assets.
Using this approach opens the door to functional cross-industry campaigns that bridge the gap between the physical and digital worlds. In the first place, this is crucial to the Web3 vision. Imagine a gamer who has a Web3 wallet connected to his mobile number. They click on a link containing an “NFT Starter Pack” to a phone number-based wallet. Clicking on the link will not only get you a wallet and his NFT, but it will also start the game, fully authenticate you, and instantly join you. This wallet can then be used as a credential to play blockchain-powered games. One day, players open a loot chest, but in addition to exciting new gear, they can also order free fries from restaurants like Wendy’s. Since the wallet is connected to your phone, you can simply go to Wendy’s and scan her QR code generated by the wallet on your device to receive your free fries. The coupon they use is his one-time NFT sent to them, and their phone acts as a verification device to ensure they control that wallet.
What this means is making NFTs more than just a trading medium. Instead, these digital assets can serve almost anything you need: certificates, access passes, credentials, and more. The immutable nature of blockchain makes these assets perfectly positioned as new and more engaging ways for people to interact with brands and services.
Untapped Potential of Blockchain
This means unlocking a whole new kind of “token-gated” customer experience. Companies can offer attractive new promotions and additional perks, and inspire consumer loyalty by offering tangible rewards to those who hold assets.In addition to increasing loyalty. The advantage for brands, therefore, is greater control and visibility over these campaigns and the ability to accurately collect data on user reactions. This has traditionally been difficult for companies to process events like this, but blockchain makes it easier to build more focused and detailed products. For consumers, they can unlock value-added experiences that enhance the way they interact with their favorite platforms and products.
Bringing easy access points to Web3 also helps bridge the physical world and the metaverse. Even offline, his phone can scan or generate his QR code so that the user’s wallet can interact with promotional materials and services. When online, the platform can connect directly to that wallet to send and receive transactions. This means that a user’s wallet will provide access to nearly everything the company has to offer, streamlining the experience and maximizing interoperability.
The ultimate key to all of this is simplicity and utility, built on the way users interact with brands. Wallets are as easy to use as the most popular Web2 applications, work universally with services, and are truly authentic. should provide the benefits of When this happens, it opens up a world of possibilities for business-consumer interactions. This is what drives real global adoption. Until this happens, the Web3 space will continue to be a novel and compelling technology, but not the world-changing new paradigm it aims to be.
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