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I recently started working for a web3 company - and I am a crypto skeptic, I joined because it was founded by two former coworkers who I enjoyed working with. W
by codezero 3y ago
I recently started working for a web3 company - and I am a crypto skeptic, I joined because it was founded by two former coworkers who I enjoyed working with. We're a data SaaS in the space and even though it's a bear market, we're doing pretty well. There are a lot of real businesses building on top of various chains that aren't just scams/shady (though there are plenty of those too). Just the sheer amount of business activity I see on a daily basis that looks like the web2 SaaS work I did for the prior 8 years when it wasn't a bear market makes me pretty optimistic that eventually these businesses (and many others) will find sustainable ways to operate using blockchains, it's just going to take some time, it's still really early in the space.
At least on the Ethereum side of things, I see success being less about a particular crypto currency and more about how smart contracts and the underlying EVM layers evolve to operate decentralized applications at scale. It's still not something I think is guaranteed. I didn't think Linux was a guaranteed success when I worked at Red Hat in the 90s either, but it became more certain when we started selling services and put less focus on box sales.
- mrtksn 3y agoAny examples of those non shady businesses with real products that real people are using for stuff beyond betting on some crypto assets?
- codezero 3y agoThe answer is that it’s sparse. It’s still very early. Scammers and grifters were dominant on the Internet for decades, massive businesses were built on spam and popup ads, something every user universally hated. I could give a few examples but I think it’s still at an early enough stage that they won’t appeal to the general public any more than internet chat did to the general public in the mid 90s. It’s still too early. It’s fine to ignore emerging tech that you find annoying or useless. I just tend to be attracted to it because it’s quite fun to be along for the ride to see it become more mainstream and useful. Not everything succeeds. :) prime example from my previous time in web2 SaaS: box subscription companies were a popular growth and acquisition model but ended up not being sustainably aligned with what people actually wanted: consistent and reliable products they love.
- mrtksn 3y agoI don't think HN is the general public, I'm just curious if there is a real use case beyond cryptocurrency to bet on. There are some interesting stuff, for example I really want BAT and Brave Browser happen, it's just doesn't appear so far(although the browser has plenty of real users because it's actually a good browser). Try me, maybe I will understand?
- tornato7 3y agoThe biggest real use is right now is (IMO) USDC for payments. It's a much better experience than banking rails, from the cheap & instant settlements to the traceable accounting and programmable security controls.
- hanniabu 3y agoHere's a list of some: https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cbb03df https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cb...
- mrtksn 3y agoWhy do you go around and post the same link? I did not ask for list of crypto projects anyway, I asked for actual products that actual people use beyond betting on the underlaying asset crypto asset.
- codezero 3y agoIt’s funny though because one of the first examples is a cool product called proof of presence protocol. To make an analogy to video games it’s like badges for doing a raid but more like a badge for going to a conference that’s saved in your digital wallet. These kinds of products are also used to “feature gate” other real life events or products or services. Kind of like a member card but it can be used pretty dynamically and it’s product agnostic.
- hanniabu 3y agoYou clearly didn't look at the list. Most of the items aren't speculative.