The Meaning of Community in Crypto Discussed at Consensus 2023
Consensus 2023 participants explored how user-focused design, cultural understanding, and gradual decentralization can drive mainstream crypto adoption
Jun 9, 2023 at 1:29 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/QBFBYGVOK5HWHJOB7DVAG3VBMI.jpg)
Kamala Alcantara, host of the “Women Who Web3” podcast, discussed the meaning of community at Consensus 2023. (Shutterstock/CoinDesk)
Kamala Alcantara, host of the “Women Who Web3” podcast, discussed the meaning of community at Consensus 2023. (Shutterstock/CoinDesk)
Do users actually care what’s under the hood of an app?
Cryptocurrencies’ censorship resistance and global reach have been the main value proposition of this technology for people not interested in sheer speculation. However, just the existence of technology is not enough: for it to really spread, empower and benefit those who need it most, there has to be infrastructure, products and services that will turn a shiny concept into the actual reality of people’s lives.
This article is excerpted from CoinDesk’s inaugural Consensus @ Consensus Report, the product of intimate, curated group discussions that took place at Consensus 2023. Click here to download the full report.
“Grassroot adoption is all about making sure you target everyday people,” Tricia Wang, co-founder of the Crypto Research and Design Labs (CRADL), said during the interactive session “Grassroots Innovation: Realizing Crypto’s Empowerment Promise for Social Inclusion” at Consensus 2023.
See also: What Kind of Culture Are We Building in Web3? | Opinion
Further, sometimes crypto developers will have to be “obsessively pragmatic,” meaning they are “culturally attuned” to solutions that may work for one group of users but not another, rather than being dogmatic about crypto’s highfalutin ideals.
What are the “winning design principles” founders should focus on if they want to meaningfully impact users’ lives?
- Should builders prioritize scaling their products as broadly as possible or helping users understand how the product works to the maximum possible extent?
- Should crypto and blockchain integration be explicit or stay under the hood?
- Should decentralization be immediate or take place over time?
A range of considerations goes into these choices…
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/901d8d4c-31f9-47f3-a8de-f753715daf96.png)
Anna Baydakova was CoinDesk's investigative reporter with a special focus on Eastern Europe and Russia. Anna owns BTC and an NFT.
Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.