Short-medium term future of layer 1/2 blockchains like Ethereum - my own thoughts

Disclaimer: Already persuaded to the use of blockchain technology, not a web3 developer, don’t trade tokens. Supporter of the community especially serious projects like Ethereum.

Problem 1: we mainly only talk, pitch ideas and build for ourselves.

Problem 2: at best the general public associates blockchain uses to a volatile asset class, at worst organised crime, scams and terrorist financing.

My thoughts:

L1 and L2 developers should be focusing on creating a ‘blended’ space that utilises foundations like Ethereum as a smaller aspect of a mainnet/off chain process. This will greatly raise the rate of mass adoption; the public will be gradually passively exposed as a part of their daily interactions. Perhaps the best example is the use of smart contracts with the rising awareness of data breaches and privacy.

Gas fees, scalability and exchange platforms are important; but they are built for users already signed up converts to the web3 space and its broad ideals. We have to be building for users who have never been in chain in the hope of creating the sustained demand for the viability of all these projects.

Thirdly, we have to encourage use of cryptocurrencies beyond speculative means. This means allowing them/advertising them as a medium of exchange if you run a business/startup. For my startup eventually, though not blockchain related will allow users to choose between payments in fiat or crypto currencies. Rather than the binary options we often have that depressed demand.

Point being is we build today for the world we want tomorrow. The future is in mass adoption which can only come from the underlying technology/future projects being integrated into pre-existing systems.