16 Ways Blockchain and Crypto Leaders Can Better Educate Potential Users
While crypto and blockchain have their share of enthusiastic pioneers, these industries cannot survive and thrive without attracting new users. Many cite the room’s technological complexity as a barrier, but does it have to be? And are industry leaders contributing to the problem by not working to reach potential users where they are?
The close-knit nature of the blockchain and crypto industries can be both a strength and a hindrance, and it may be time for insiders to step outside echo chambers to better understand what potential new users want to know and how to provide them with that information. Below, 16 members of the Cointelegraph Innovation Circle discuss how the blockchain and crypto industry can improve its reach to potential new users.
Be true to transparency and decentralization
We must be true to the goals of the blockchain industry: transparency and decentralization. If managers promote these qualities in their discussions about the industry and its products, they put potential customers in a much better position to understand the industry. Since everything can be verified in the chain, it is much easier for customers to test what is said, rather than blindly believing. — Mohak Agarwal, ClayStack
Fight to promote the whole place
We must be true to Satoshi Nakamoto’s vision and educate ourselves on the importance of trustlessness and not depending on financial intermediaries. This space is full of nonsensical tribalism, which does nothing but repel new users. Real leaders should fight tooth and nail to promote the whole space – together we can make this the 12th sector of the S&P. – Ben Knaus, Rillafi
Push out simple, clear content
Simplicity and clarity are essential. Managers should push educational content that is simple. Forget complex technical explanations that mean a lot to you but nothing to the wider audience. If the future of Web3 is for ordinary people, we need to be able to explain what it is in a simple language that everyone can understand. – Shiran Herzberg, eToro
Use useful analogies
It’s tough, but one method we’ve found useful is to use analogies that people understand. For example, when talking about DeFi insurance, first talk about how traditional car insurance is done and then explain the similarities to how it works in the crypto world. – Rupert Barksfield, amulet
Build solutions people can use without being taught
Education is often misplaced – I find that so many people try to teach people how crypto works. Very few people understand how the internet works. What made the internet soar? Great software and applications that just work. Apple didn’t teach people how to use the iPhone. They made products that worked. Build solutions that people can use, not ones they need to be educated about. – John Wingate, BankSocial
Start with product training and safety guarantees
We need to focus on product education and safety, ideally in that order. With product education, users can begin to understand how blockchain can serve them and ease the pain of traditional finance. Next, potential users must feel confident with the technology itself. By focusing on these two factors, we can bring new users into the blockchain ecosystem, which is arguably the biggest obstacle. – Megan Nyvold, BingX
Leave the drama at the door
There is so much tribalism in crypto that leaders of projects often get wrapped up in pointless social drama that turns off potential users. Leaders need to leave the drama at the door and realize that we are all building this technology together. If blockchain and crypto is a party, let’s make it as inviting and welcoming as possible; no one likes to be at a party with everyone yelling at each other. – Mark Soares, Blokhaus Inc.
Drop the echo chamber language
The language we choose is critical from a technical and cultural point of view. The industry is consumed by its own niche language and anecdotes, and we should always consider that those we approach are not only likely to be unfamiliar with Web3-isms, but also have some skepticism. We are one step closer to mass adoption if we make it easy to understand using non-echo chamber language. – Sheraz Ahmed, STORM Partners
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Highlight real-world use cases
Focus on real-world use cases that create value and leverage technology to drive new business models. Ignore the hype and speculation – there’s nothing to it. Ultimately, Web3 and Web2 must work together. Web3 will not rip and replace Web2, nor can Web2 invent Web3. Drive use cases, drive innovation and create paradigm shifts in business models. – Nitin Kumar, zblocks
Prepare people for how blockchain will change the world
Keep the big picture in mind, and don’t focus on the small details of everyday life. Focus on how life will change in the post-blockchain revolution world. Since this technology will take time to mature, explain how people can prepare and manage their expectations, and present the disadvantages along with the advantages to keep people aware of any challenges to mass adoption. – Jagdeep Sidhu, Syscoin Foundation
Emphasize the “how” and “why” of new technologies
Due to its pace and scale, the crypto ecosystem generates an incredible amount of noise. Trying to analyze reliable information can be overwhelming, especially when much of the focus is on value-based judgments. Instead, education should emphasize the “how” and “why” of new technologies and situate them in a changing world. Greater context can only stand to enrich one’s crypto journey. – Oleksandr Lutskevych, CEX.IO
Simplify the language related to Web3
Managers must work together to simplify the language and explanations of complex concepts related to Web3. This industry moves at a ridiculous speed, and this pace will only increase with advancements in AI tools like ChatGPT. We also need to put more emphasis on sharing the positive use cases this technology brings to our lives. Combined with patience, these steps can reduce some of the confusion. – Matthew LaCrosse, MetaEngine
Reach your audience where they are
Platforms like TikTok can be intimidating to Web3 natives more used to Twitter and Telegram, but it’s crucial to provide educational content beyond our own echo chambers. This is a great way to increase blockchain adoption – especially among younger generations. – Wolfgang Rückerl, ENT Technologies AG
Participate in open conversations
Ask questions and be prepared for an open conversation. Potential users hesitate for various reasons; it’s a mistake to assume you know how to handle their concerns or motivate them to learn if you don’t understand their point of view. My teaching background comes in handy — it is natural to use the Socratic method in small settings. Focus the topic on a large scale and define your terms. – Stephanie So, Geeq
Gamify the learning process
Combine gamification, education and rewards as a learning process. Educate users through challenges in the form of quizzes – winners can receive non-transferable proof of knowledge NFTs. They can then be rewarded by their companies with discounts or special offers. World of Women and Ledger provide excellent examples of this. – Erki Koldits, OÜ Popspot
Focus on utility
We need to focus more on the usefulness and benefits for those who use the products, instead of focusing on the technology itself. Beyond that, focusing too much on the incentives (aka tokenomics) can lead to acquiring users who are only interested in the financial gain and nothing more. These types of projects are only successful in frothy markets, as we saw in 2020 and 2021. – Moshe Lieberman, Share
This article was published through the Cointelegraph Innovation Circle, a researched organization of top executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.
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