Crypto, Blockchain to Attract Bigger Community

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Cryptocurrency and blockchain are the center of the discussion during the first track of CoinMarketCap’s “The Capital: Time to Ship Conference,” a virtual event hosted in the metaverse by CoinMarketCap (CMC), last May 26 to 27, 2022.

The Evolution of DEXes

The Decentralized Exchange (DEX) is a peer-to-peer marketplace where crypto traders can attract directly.

With Varun Vruddhul of Hashflow, Nikita Inshakov of Hyperflex Studio, Captain ApolloX, and Leonard of PearDAO as panelists, they concluded that DEX offers a big help in the Decentralized Finance (DeFi) system.

Inshakov added that the loyalty of users will help improve the onboarding process, emphasizing that user loyalty can be a valuable asset during a crypto crisis like the bearish momentum that the market is currently experiencing.

Keys of Crypto Adoption

According to the data of Triple A, six out of 10 crypto owners are aged under 34. The panel focused on how to promote crypto to the other generations.

“Will we ever get to a point where my 80-year-old grandma can use crypto with no technical knowledge?” Moderator Connor Sephton asked the panelists.

The panelists were Michael Gord of GDA and Everscale Foundation, Eric Chen of Injective Labs, and Dave Uhryniak of TRON DAO.

“Yes! Just like the internet, we just need a nicer user interface for the masses to be able to use it without understanding the mnemonic phrases,” Gord said.

Meanwhile, Chen emphasized that the interaction of the user to the application is a must to promote crypto adoption.

“It is the job of an application to offer such an experience that users enjoy using it without even realizing that it is running on the blockchain,” he added.

And Uhryniak stated that crypto adoption will rise when it can be used to buy in real-life stores, saying “Soon your granny will be able to use crypto when she goes to a grocery store to buy anything.”

NFTs in 2022: Explained

Non-Fungible Tokens (NFTs) are expanding their influence today, including concert tickets, other forms of ownership, and more.

This panel discussed the future of NFT space in2022, with Roniel Rumburg of Audius, Clement Lesaege of Proof of Humanity, and Nathan VDH of Snapshot as panelists.

Rumburg first compared the technological advancement to hypertext in the early days of the internet, because this technology enabled Google, Amazon, Facebook, and more.

Meanwhile, Nathan VDH emphasized that there were so many experiments that were going on with the NFTs.

“One day the music industry will run on-chain. One day, I hope the federal elections in many countries will run on-chain,” he added.

He also stressed that NFTs should be a part of the governance of communities.

“Holding tokens doesn’t represent the level of participation of users in a community. NFTs can help with this aspect of community governance,” said Nathan.

He concluded that in this way, NFT can help the community grow bigger.

Big personalities were present as panelists and speakers during the conference, including CX of Binance, Michael Saylor of MicroStrategy, Samson Mow of JAN3, Jaynti Kanani of Polygon, Sebastien Borget of The Sandbox, and many more.

BitPinas is one of the official Media partners of CoinMarketCap’s “The Capital: Time to Ship Conference.”

This article is published on BitPinas: Crypto, Blockchain to Attract Bigger Community

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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Nath Cajuday

BitPinas is the oldest blockchain and cryptocurrency news outlet that covers the Philippine blockchain and crypto scene. We are also writing general and international blockchain topics that are relevant to our audience.