\u201cCrypto\u201d is a dirty word, according to Tara Fung.<\/p>\n\n\n\n
During a panel discussion at the Permissionless II conference in Austin, Texas, the CoCreate co-founder and CEO spoke about how the industry needs a \u201crebrand.\u201d<\/p>\n\n\n\n
Fung prefers the term \u201cWeb3\u201d over \u201ccrypto\u201d because it \u201cencompasses the technology as well as the ethos,\u201d opening up new use cases, interoperability, and ownership.<\/p>\n\n\n\n
The Web3 ethos is \u201cthat people should have more ownership,\u201d she explained, \u201cand that we should be building things in a way where there is a community component as opposed to a centralized entity that gets to decide everything unilaterally.\u201d<\/p>\n\n\n\n
But the stigma of crypto stretches well beyond blockchain vernacular. Fung said that telling someone why they should care about crypto \u2014 a common conversion tactic \u2014 is futile.<\/p>\n\n\n\n
\u201cIf you do,\u201d she said, \u201cyou\u2019ve kind of already lost. It should be intuitive. It should be experiential first. It should be that this is a better experience. This is a better program. This is a better, more personalized journey.\u201d<\/p>\n\n\n\n
\u201cOh and it\u2019s Web3. OK, cool. But I shouldn\u2019t have to know that in order to appreciate it.\u201d<\/p>\n\n\n\n
Nobody cares how the toilet works<\/p>\n\n\n\n
President of enterprise at Moonpay, Keith Grossman, compared the current mentality in crypto to conversations that took place during the early rise of personal computers, when people cared about \u201ctheir 486 and their Pentium and how much RAM they had.\u201d<\/p>\n\n\n\n
\u201cThat\u2019s kind of where we are today, in this space,\u201d he said. \u201cWe\u2019re talking about the specs.\u201d<\/p>\n\n\n\n
\u201cAnd then the iPod comes out and Steve Jobs holds up a device and says \u2018a thousand songs in your pocket.\u2019\u201d<\/p>\n\n\n\n
When it comes to tech specs today, most people exhibit an \u201cI don\u2019t know and I don\u2019t care\u201d attitude, Grossman said. \u201cI just want it to work. And I want it to do something awesome.\u201d<\/p>\n\n\n\n
\u201cNobody cares how the toilet works,\u201d Grossman quipped. \u201cThat\u2019s sort of how I feel about technology.\u201d<\/p>\n\n\n\n
\u201cThe point is,\u201d Grossman reiterated, \u201cit 100% needs a rebranding as it relates to how people understand why the technology\u2019s valuable.\u201d<\/p>\n\n\n\n
The reputational harm that the crypto industry has incurred via a litany of scams and nefarious behavior is not unique to the space, Grossman insisted. \u201cScams take place in any industry where money\u2019s involved.\u201d<\/p>\n\n\n\n
\u201cI literally can go through any industry where money can be made, and I could point out bad actors. Are there bad actors in this space? 100%.\u201d<\/p>\n\n\n\n
\u201cDoes the space need regulation?\u201d Grossman asked. \u201cYes, it needs responsible regulation.\u201d<\/p>\n\n\n\n
\u201cUltimately, for mass adoption on the consumer level though, it\u2019s like the toilet,\u201d he said. \u201cNobody cares how it works.\u201d<\/p>\n\n\n\n
\u201cThe tech just needs to be able to empower a better consumer experience.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
\u201cCrypto\u201d is a dirty word, according to Tara Fung. During a panel discussion at the Permissionless II conference in Austin, Texas, the CoCreate co-founder and CEO spoke about how the industry needs a \u201crebrand.\u201d Fung prefers the term \u201cWeb3\u201d over \u201ccrypto\u201d because it \u201cencompasses the technology as well as the ethos,\u201d opening up new use […]<\/p>\n","protected":false},"author":2,"featured_media":21780,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-21778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"rttpg_featured_image_url":{"full":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3.jpg",1600,900,false],"landscape":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3.jpg",1600,900,false],"portraits":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3.jpg",1600,900,false],"thumbnail":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3-150x150.jpg",150,150,true],"medium":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3-300x169.jpg",300,169,true],"large":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3-1024x576.jpg",1024,576,true],"1536x1536":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3-1536x864.jpg",1536,864,true],"2048x2048":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3.jpg",1600,900,false],"post-thumbnail":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3.jpg",747,420,false],"graptor-sq-xs":["https:\/\/web3unplugged.io\/blog\/wp-content\/uploads\/2023\/09\/Untitled-3-3.jpg",100,56,false]},"rttpg_author":{"display_name":"Admin CG","author_link":"https:\/\/web3unplugged.io\/blog\/author\/admin-cg\/"},"rttpg_comment":0,"rttpg_category":"news<\/a>","rttpg_excerpt":"\u201cCrypto\u201d is a dirty word, according to Tara Fung. During a panel discussion at the Permissionless II conference in Austin, Texas, the CoCreate co-founder and CEO spoke about how the industry needs a \u201crebrand.\u201d Fung prefers the term \u201cWeb3\u201d over \u201ccrypto\u201d because it \u201cencompasses the technology as well as the ethos,\u201d opening up new use…","_links":{"self":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts\/21778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/comments?post=21778"}],"version-history":[{"count":1,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts\/21778\/revisions"}],"predecessor-version":[{"id":21781,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/posts\/21778\/revisions\/21781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/media\/21780"}],"wp:attachment":[{"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/media?parent=21778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/categories?post=21778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/web3unplugged.io\/blog\/wp-json\/wp\/v2\/tags?post=21778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}