Qiao Wang, a senior blockchain analyst who has been dealing with cryptocurrencies since 2012, explained a few possible reasons why decentralized technologies are also inadequate in mass adoption.
Technology First, Then Users
Generally, Wang says the blockchain and crypto industry is still in its infancy. Therefore, decentralized products can be defined as ‘low level’ code base.
Theory as to why crypto hasn’t gone mainstream (outside bitcoin and stablecoins):
Because the tech is so fascinating yet so low level, it attracts people who are obsessed with the tech instead of those who are obsessed with users.
Need to raise levels of abstraction for devs.
— Qiao Wang (@QWQiao) June 16, 2020
However, the expectations of Blockchain technology seem so bright that it attracts ‘tech-obsessed’ people. In contrast, “user-obsessed” entrepreneurs and engineers avoid this type of development segment.
This problem can be solved if the levels of abstraction are raised for developers. In addition, Mr. Wang stated that this paradigm should not be attributed to Bitcoin (BTC) and stablecoins, and said that mass adoption is compliant with the law.
Finally, Mr. Wang acknowledged that low-level code generation has little to do with creating consumer products for end users. These processes require different skills and very few people in the industry have both.
Legendary entrepreneur Dan Hedl participated in Mr. Wang’s suggestions and highlighted the lack of non-CS ‘understanding’ in the Blockchain segment as follows:
There is a complete lack of product / design / marketing thinking in the field.
what’s to market? most projects have nothing to sell
— Udi Wertheimer (@udiWertheimer) June 16, 2020
However, the cryptocurrency phenomenon Udi Wertheimer stated that this is not just about marketing. According to Wertheimer, the main problem is that product crews cannot offer interesting products and therefore have nothing to market.