Some of it has a ‘look how clever I am’ feel… ‘I need to look impressive, so I’m going to start talking about layers, liquidity pools, and the benefits of ERC-1155.’ That kind of thing.
Who would have thought five years ago you’d be explaining how to stake FEG, or how to swap to Wrapped Ether to buy NFTs on OpenSea. Those things makes sense to some people, but not to most.
Crypto doesn’t need to be complex. It shouldn’t be. But if it doesn’t de-clutter, it will be the preserve of the few. A sector built by blockchain developers for blockchain developers... is only really for developers.
At the moment, traditional finance is weary of crypto and anyone who has generated wealth in crypto, for the simple reason that it feels difficult to thoroughly assess the risks.
How do you explain that to a bank, an accountant, or a solicitor? For many, wealth generated in crypto cannot be verified and transitioned out through traditional finance. It’s a bottleneck caused, at least in part, by complexity – the fear of not fully understanding what you’re really dealing with. And the fear that you’ll do something wrong.
One of the ways to get there is to understand that every crypto wallet, address, or portfolio tells a story. It has a start, a middle, and (hopefully) an end.
After all, everyone loves a story.