The Crypto Industry Needs to Fix Itself Before It Can Progress

Crypto is stuck between the proverbial rock and a hard place, and there’s a lot of blame to go around.

The crypto/blockchain industry didn’t intend to create spectacular failures as part of its evolution, but it happened. Although no one expected the industry to grow flawlessly , the scope of hiccups and frequent meandering have been excessively distracting and damaging, despite the fact that, fundamentally, the blockchain’s promise was un-dented.As I look around to take some perspective, I see three reasons why the industry is in the doldrums.

We have already seen the blueprints and patterns of failures. Can we identify them earlier and squish them before they can be systemically damaging? Can we call out bad actors early and often?Read more: Michael J Casey -Can we stop the creation and pumping of useless tokens that have no future but to scam uninformed consumers?

Can we work on real industry interoperability standards such that a user doesn’t need to choose which blockchain layer to send their transaction on? Can the media do more investigative journalism to dig up the more interesting projects instead of being an echo chamber that regurgitates and rewrites the same news day in and day out?

Helping to minimize the impact of bad actors in Web3 is imperative to getting to mass adoption. It has has to be seen as safe and efficient before the general public will join the space.

Thanks a millon

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