The following is a guest article by Jackie Bona, co-founder and CEO of Valora.
Five challenges hindering mass adoption
In today's digital world, mobile technology is more than just a convenience, it's a lifeline that connects billions of people to the internet. and Over 8.58 billion mobile phones worldwide Smartphones, which have outgrown the world's population, have evolved into essential tools for communication, commerce, and financial management. Web3 has the potential to transform industries, financial systems, and digital interactions, but we are still waiting for the “Apple moment” – the pivotal event that will make disruptive technology intuitive and accessible to the masses. .
So what's stopping it? Five major obstacles must be overcome for Web3 to make the leap from emerging technology to widespread adoption.
Lack of mobile-native solutions
Even though smartphones are the primary device owned by billions of users, Web3 applications are still limited to desktop environments. recent reports It shows that 92.1% of the world's internet users connect via mobile phone. 8 of the top 100 Web3 dApps DappRadar provides a mobile-native experience. Why is there a gap?
This gap is particularly problematic in emerging markets, where mobile phones are often the only means of accessing the Internet. For example, in countries such as Vietnam, India, the Philippines, and South Africa, 70% of adults Own a mobile device as your only means of connecting to the internet.
One of the top ecosystems working to bridge the mobile gap is the Celo community. As the leading blockchain supporting projects built with a mobile-first approach, including projects like Valora, Mento Labs, and Opera's Mini Pay The Celo community is responding to the opportunity to provide practical Web3-powered solutions for a mobile-first world. This strategy is already paying off, with Celo reaching around 700,000 daily active addresses using stablecoins in September, demonstrating its appetite for mobile-native solutions.
The positive response to Opera MiniPay also highlights how its mobile-first design fits current market needs. 3 million wallet Beyond the African continent. By prioritizing ease of use and affordability, Opera MiniPay has expanded its user base by making digital finance accessible even in areas with limited traditional banking infrastructure. This demonstrates the power of mobile-centric solutions to expand access to digital assets, especially in areas where financial inclusion is a key issue, and highlights the market opportunity for Web3 companies to offer mobile-centric solutions. I am.
complex user interface
For the average person, working with Web3 applications can be a scary experience, especially considering the complexity of security and managing digital assets. Please keep in mind the above Two-thirds of Web2 users Using the same password for all accounts highlights how difficult it is for mainstream users to cope with the unique requirements of Web3.
Blockchain, decentralized finance (DeFi), and digital wallets often come with steep learning curves, including security measures like seed phrases and complex keys, making it difficult for people to approach the technology with confidence. I am.
Although Web3 continues to innovate, its user base is limited. 220 million active addresses Although the numbers were recorded in September of this year, they pale in comparison to the billions of people who regularly use the Web2 platform.
This has also been noticed in the Web3 community. Almost 1 in 4 Web3 users They cite complex user interfaces and complicated onboarding as barriers to mass adoption. By focusing on simplifying the user experience, the Web3 platform can create an attractive entry point for individuals new to blockchain and decentralized finance.
Web3 awareness is low
Despite its transformative potential, Web3 is still relatively unknown to the general public. According to the survey, 8% of people They are even aware that Web3 exists, and this low level of awareness is one of the biggest obstacles to achieving mainstream adoption.
This lack of awareness is particularly problematic in the regions where Web3 could have the greatest impact: emerging markets where traditional banking services are not well developed or accessible.
The World Bank is 1.4 billion People in these areas lack access to financial services. Web3 has the potential to empower underserved communities by providing decentralized solutions to long-standing problems such as access to credit, high transaction fees, and currency instability. . However, without effective education and support, many people remain unaware of how these decentralized technologies can benefit their lives.
Closing this gap requires intensive efforts to educate users about the real-world applications of Web3. for example, Valora learning programThe partnership between Valora, Tether, and Celo leverages Valora's mobile-first design to deliver hands-on learning experiences to users in emerging markets.
The initiative has already activated over 75,000 users in Nigeria and is also expanding to Vietnam, South Africa and Brazil to empower even more people through stablecoin adoption and seamless borderless cryptocurrency transactions. We are expanding. Through accessible modules, users can learn while they earn and experience first-hand the benefits of financial freedom with USDT and the fully mobile Valora wallet.
Programs like Valora Learn & Earn allow users to understand stablecoin use cases such as secure money transfers, savings, and cross-border payments, helping individuals understand practical applications that fit into their daily lives. You will be able to manage your finances.
By making educational content accessible on mobile devices, apps like Valora are turning curiosity into meaningful engagement and driving real adoption of Web3 in emerging markets.
digital gap
In many emerging markets where access to traditional banking and financial services is limited, mobile technology has become the gateway to the global digital economy. However, significant digital gaps remain and UN experts are concerned that: 2.7 billion people worldwide The cost of upgrading broadband infrastructure and outdated technology puts them at risk of not being able to access the internet.
Countries like Brazil, Türkiye, and Vietnam are increasingly adopting cryptocurrencies above average growththe appetite for digital assets is clear. However, while millions of individuals in these emerging markets own mobile devices, many respondents said: Fee As a reason for not having something of my own.
An example of how to deal with this is: Partnership between Jumbo and Aptos Foundation. Jambo bridges the digital gap by making affordable smartphones with Internet access and Web3 capabilities available to users in more than 40 countries in Africa, Southeast Asia, and Latin America, reaching more emerging market users. We are helping bring people online.
As Jambo has demonstrated, to truly unlock that potential, the industry must meet these customers where they are and create onboarding ramps that help them bridge or bypass the digital gap.
Beyond speculation: Stablecoins as evidence of real-world use for Web3
Web3's reputation has long been tied to speculation and investment, but more recently Stablecoin usage skyrockets It marks the transition to practical, real-world applications. Stablecoins (digital assets pegged to traditional currencies such as the US dollar) provide stable access to everyday transactions, savings, and cross-border payments without the volatility that characterizes cryptocurrency markets. By providing an easy-to-use method, we have significantly adapted the product market. This stability makes stablecoins attractive to users looking for a digital tool they can rely on for their daily financial needs.
Banks available in emerging markets remain limited, Stablecoins provide a way for individuals to store and transfer value around the world, essentially acting as a “bank in your pocket.” Programs that allow users to earn and spend stablecoins help introduce people to digital assets that they can use meaningfully in their daily lives.
Through stablecoins, Web3 is demonstrating how digital assets can provide value beyond speculation and promote financial empowerment and stability.
The increasing adoption of stablecoins shows that people are looking for more than just high-risk returns from Web3. They are looking for reliable digital tools to support their financial lives. By emphasizing stablecoins and other practical applications, Web3 moves from a speculative image to a system that promotes inclusivity, which could ultimately broaden its appeal and encourage greater adoption. can.
Future Directions: Embracing Mobile for the Future of Web3
Web3 is poised to revolutionize global industries, financial systems, and digital interactions, but the path to mainstream adoption is still hampered by several significant challenges. At the heart of overcoming these obstacles is a powerful and obvious solution: the adoption of mobile technology. With the majority of internet users around the world accessing the internet in the palm of their hands, the transition from desktop-centric platforms to mobile-first solutions is not only necessary, but inevitable.
The stakes are high. If Web3 fails to fully embrace mobile technology, it risks remaining limited to a niche audience and limiting its global impact. But by addressing these five key challenges and fully embracing the mobile revolution, Web3 may finally have its Apple moment.
