In the ever-evolving landscape of Web3, the challenge of usability remains one of the foremost barriers to mainstream adoption. The latest episode of Hashing It Out sheds light on this pressing issue through a discussion with Moe El-Shibib and Selim Sezgin, co-founders of Ponder One. Hosted by Elisha Owusu Akyaw, the conversation delves into the complexities facing users as they navigate the decentralized nature of blockchain technology.
The UX Roadblock
While the growth of Web3 continues unabated, many potential users find themselves hindered by a myriad of usability challenges. From onboarding processes to managing assets across multiple blockchain platforms, the learning curve proves steep for newcomers. Sezgin emphasized in the interview that ‘technical innovation has outpaced user experience,’ leading to struggles with interactions that should be straightforward. He stated, ‘While technical innovation has been a driving force, usability and accessibility remain pain points… Our whole goal is to simplify Web3 and make it as usable as possible.’
To address these issues, the episode explores AI-driven solutions that promise to simplify blockchain transactions significantly. By automating processes such as swaps and decision-making, AI can help reduce reliance on technical knowledge, thereby streamlining user engagement with blockchain technology.
Additionally, the discussion highlights the importance of cross-chain functionality, enabling seamless interactions across various blockchains without the cumbersome need to manually switch networks.
Decentralization vs Usability in Governance
Decentralized governance also plays a pivotal role in determining the effectiveness of Web3 applications. According to the Ponder One team, community-driven decision-making should empower users to vote on critical integrations and protocol developments. However, achieving a harmonious balance between decentralization and efficiency is essential for effective governance structures.
As the industry progresses, future innovations are anticipated to focus on real-world assets (RWAs), AI applications, and enhanced accessibility to DeFi. Ultimately, the broader adoption of Web3 will significantly depend on simplifying blockchain technology to cater to the needs of everyday users.
This episode of Hashing It Out offers valuable insights into the current challenges faced by Web3 and outlines avenues for future developments. The conversation accentuates the pressing need for a more simplified and accessible blockchain ecosystem, one that can foster broader participation and user satisfaction.
To listen to the full episode of Hashing It Out, visit Cointelegraph’s podcast page, Spotify, or Apple Podcasts. Don’t miss out on Cointelegraph’s full lineup of other insightful shows.
