Oleksandr Lutskevych

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A combination of trends already underway and deliberate industry action could lead to crypto’s watershed moment in terms of public adoption. For many, the crypto industry feels as though it's hovering on the brink. It attracts high-profile attention and headlines; yet widespread public interest and adoption haven't yet followed.  There may be a variety of factors giving the public pause, ranging from stories of misconduct by bad actors to simply a lack of understanding of the industry's technology, philosophy and potential. But is it possible some significant trend or development could tip the scales in crypto's favor? Below, 13 members of Cointelegraph Innovation Circle speculate about some of the factors and events they believe could lead to a groundswell of interest in the crypto industry among the general public.

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Cross-chain operability may only be achieved when there’s not only a way, but a will to move forward. Even crypto industry outsiders are gaining clarity on the benefits of blockchain technology, which is a significant step forward for the ecosystem. However, a challenge remains: The industry still struggles with interoperability between blockchain networks.  Unless different chains can safely and efficiently communicate and exchange data, the full power of blockchain — including true decentralization, new use cases, lower costs and, ultimately, further innovation — can’t be achieved. Here, 10 members of Cointelegraph Innovation Circle discuss some of the challenges still standing in the way of achieving cross-chain interoperability and how they can be overcome.

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Blockchain companies aren’t just selling themselves; they’re also selling the industry’s technology and principles as a whole.  Word about blockchain technology’s benefits has penetrated the global marketplace, so now’s the time for blockchain businesses to begin deliberately refining and sharing their marketing messages. Like other service businesses, blockchain companies have to find effective ways to explain why their service in particular is the right choice for a potential client’s unique needs. However, unlike service companies in other industries, in many cases, blockchain leaders will be marketing a service that B2B clients may be intrigued by but don’t understand well. Marketing a business always takes a lot of hustle, and blockchain technologies will likely need to blend traditional marketing methods focused on their own unique benefits with new strategies to make B2B clients outside the industry excited about what blockchain can do. Below, 16 members of Cointelegraph Innovation Circle share tips to help blockchain companies improve their marketing strategies to attract and land potential clients.

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Blockchain protocols can’t (and shouldn’t) ignore AI’s potential, but it’s important to implement it with caution and care. Across industries, it seems all anyone is talking about is artificial intelligence. Even companies that aren’t tech-forward are scrambling to discover how AI works and what it could do for them. Given the impact AI is predicted to make, it’s hardly surprising that blockchain protocols — part of an industry that is decidedly tech-forward — are exploring what role(s) AI could play for them. From data analysis to improving scalability to fostering interoperability, AI could prove to be a powerful tool in the arsenal of blockchain protocols. Still, it’s essential to carefully review not only all the potential benefits, but also the possible complications. Below, 12 members of Cointelegraph Innovation Circle discuss some of the things blockchain protocols should consider as they begin exploring AI.

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Blockchain-based data providers are faced with a golden opportunity — if they’re able to scale their infrastructure to handle the demand. Each year, the amount of data generated across the globe is growing exponentially. From the explosion in the use of digital tools in the workplace to the ever-growing use of Internet of Things devices, social media, online gaming, e-commerce and other digital platforms, each day sees the creation of a massive amount of data that needs to be stored securely and efficiently.  Blockchain technology provides a decentralized, immutable, secure solution, making it an ideal option for multiple industries. But first, blockchain-based data providers need to prove they can scale to meet the exploding demand. By leveraging smart partnerships and building new solutions that are compatible with what’s already in the market (and familiar), the blockchain industry can lead the way in addressing an issue in genuine need of a solution. Below, 10 members of Cointelegraph Innovation Circle share tips to help blockchain-based data providers scale to meet the ever-growing demands of the broader data storage space.

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Crypto companies operating in the EU must begin work now to comply with MiCA and assess how it might affect their global operations. In May 2023, the European Union signed its landmark Markets in Crypto-Assets legislation into law. Crypto businesses operating in the EU now have a fixed timeline to comply with MiCA’s wide-ranging guidance and regulations, which address everything from defining a crypto asset to establishing reserve requirements for stablecoins. While MiCA is impacting crypto at a challenging time, many insiders welcome this groundbreaking legislation and expect it to lead to a stronger, more vibrant industry. Below, nine members of Cointelegraph Innovation Circle share their insights to help crypto companies ensure they’re compliant with MiCA once it’s in full effect.

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To better meet the changing needs and demands of users, CeFi companies should take a close look at what makes DeFi companies appealing. While there are inherent strengths to be found in both centralized finance and decentralized finance companies, there are certain areas in which DeFi shines, including user empowerment, transparency and reach. While customers may be drawn to CeFi’s perceived security and strength advantages, in an increasingly digital, global economy, if CeFi companies can’t keep up with the user expectations being set by DeFi technologies and protocols, their advantages may come to count for less among younger users and markets (or even disappear altogether). To avoid a slow slide into irrelevance — and to better serve their current users — DeFi companies should take a look at the aspects of CeFi consumers find most appealing. Below, 13 members of Cointelegraph Innovation Circle share a few of the leading DeFi practices CeFi companies would be wise to emulate.

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The United States doesn’t have to start from scratch when it comes to developing effective laws and guidelines for crypto. While the U.S. has long been known as a center of innovation and new technology, the nation’s regulatory bodies don’t seem to know quite what to make of the crypto industry. The U.S. is lagging behind countries in Europe and Asia in establishing crypto regulations, and it’s not because the industry is broadly resistant. Indeed, crypto insiders would welcome — are asking for — clear and consistent guidelines. Still, one of the benefits of being late to the party is being able to learn from what’s working in the regions that have forged ahead. Below, 11 members of Cointelegraph Innovation Circle discuss a few of the most important things U.S. regulators can learn from actions taken in other countries as they begin to establish laws and guidelines for crypto.

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Crypto exchanges must take the initiative in addressing regulators’ and investors’ concerns about liquidity. Globally, the young crypto industry struggles with image issues. The latest blow came in May 2023, when the U.K.’s Treasury Committee recommended that crypto trading and investment be regulated as gambling rather than as a financial service.  Setting aside the fairness or accuracy of the opinions of regulatory agencies and crypto-skeptical investors, it’s clear that the industry must take every possible step to earn the trust of outsiders. This includes the need for crypto exchanges to address liquidity concerns — not only to enhance exchanges’ trustworthiness and credibility, but also to provide a stable and seamless trading experience for users. Below, eight members of Cointelegraph Innovation Circle suggest strategies to help crypto exchanges calm investors’ concerns about liquidity.

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Non-experts are much more likely to grasp the value of a scaling solution if it’s related to something they already understand.   Blockchain technology can be difficult for the average layperson to understand, and when “layers” are added to the concept — as with blockchain scaling — it can be even more confusing. Companies working on blockchain scaling solutions are led and staffed by experts who fully understand the underlying technology and why scaling is essential to the long-term success of blockchain, but relaying that knowledge to those outside the industry can take thoughtfulness, patience and creativity. Learning what to emphasize and how best to relay that important information is essential for companies seeking to promote their scaling solutions. Here, eight members of Cointelegraph Innovation Circle share smart strategies for effectively explaining a blockchain scaling solution.

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Proper vetting of potential Web3 partners includes looking both at traditional business fundamentals and industry-specific USPs. When considering Web3 partnerships, the background and perspective of the evaluator may lead to blind spots. Traditional companies and investors may know the business fundamentals and financial metrics to examine but be unclear on industry-specific “must-haves” such as necessary tech capabilities and a committed fan base. Industry insiders, on the other hand, may be impressed by a potential partner’s community presence and the features they promote but overlook the health of the financial and advisory foundations.    To ensure a profitable partnership that brings value to both parties and to end-users, it’s essential to examine both the big picture and the telling details. Below, 17 members of Cointelegraph Innovation Circle share tips for companies and individuals engaged in evaluating a potential Web3 partnership.

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Staking protocols are subject to evolving and varying regulations, so be prepared to monitor and meet new legal requirements.  As even late-night talk show hosts begin to weigh in on events in the crypto industry, it’s clear the public is increasingly paying attention to both the potential and challenges of investing in crypto. Of even more immediate concern to crypto companies, though, are the questions around the type and number of legislative guardrails lawmakers will inevitably impose. As regulators start to eye staking protocols, companies must ensure they engage in the ongoing work of ensuring that their staking is compliant. Below, 11 members of Cointelegraph Innovation Circle discuss effective ways for companies to ensure compliant staking as the industry continues to evolve.

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While blockchain can be impactful, it’s not a one-size-fits-all solution; it’s important to consider your unique situation and needs. Supply chain reliability and efficiency are always a concern for product-based businesses, but their importance was spotlighted recently as multiple industries struggled both with obtaining needed materials and keeping their products continually available on store shelves. Companies looking for streamlined, easy-to-manage and safe solutions may be considering blockchain as an option. While blockchain technology can be an impactful tool for many applications — including, in some cases, logistics and distribution — it’s not necessarily the best tool for certain industries. Below, 11 members of Cointelegraph Innovation Circle share their tips for companies exploring leveraging blockchain to manage their logistics and/or distribution processes.

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Bad social media habits can do damage not only to your project and company’s reputation, but also to the burgeoning crypto industry as a whole.  Businesses across industries invest a lot of time and resources into building and cultivating their social media presences because of the big potential ROI. Social media marketing is a tool crypto and blockchain companies are quick to leverage — social media platforms offer a variety of audiences, prebuilt communities and global reach.  Still, it’s all too easy to make missteps in social media outreach, and an ill-considered post can go viral (in a very bad way) in an instant and cause lasting damage to a brand. Below, 10 members of Cointelegraph Innovation Circle discuss some social media practices that crypto and blockchain companies should avoid and why they’re so problematic.

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The crypto and blockchain industry grew up with Twitter, and the platform remains a vital networking tool.  Social media and the crypto and blockchain industries seem to be a perfect fit. What better way for companies in the industry to communicate in real time and build communities than through the platforms designed for doing just that? While many marketing firms and industries are highlighting “fresh” sites like TikTok, much of the crypto audience remains devoted to Twitter, and the platform offers its own slate of tools and trends that fit industry needs. Still, using Twitter to build, grow and interact with your community takes more than posting or sharing an occasional tweet. Below, 13 members of Cointelegraph Innovation Circle share their tips for leveraging Twitter to build crypto and blockchain communities.

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The crypto and blockchain industries may need to shed some insular tendencies to successfully attract prospective users. While crypto and blockchain have their share of enthusiastic pioneers, these industries can’t survive and thrive without attracting new users. Many cite the space’s tech-forward complexity as a barrier, but does it have to be? And are industry leaders adding to the problem by not working to reach prospective users where they are? The close-knit nature of the blockchain and crypto industries can be both a strength and an impediment, and it may be time for insiders to step outside echo chambers to better understand what prospective new users want to know and how to give them that information. Below, 16 members of Cointelegraph Innovation Circle discuss ways the blockchain and crypto industries can improve outreach to potential new users.

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What's one thing the stablecoin space can do to improve stability in times of volatility?

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The crypto industry would be wise to learn from and adopt the proven principles and processes TradFi relies on to protect consumers. Crypto pioneers and decentralized finance companies often talk about their commitment to opening up financial opportunities to underserved populations, but that’s only half the battle in achieving success for this fledgling industry. Global consumers must be confident that the funds they invest with crypto companies are safe, secure and accessible for withdrawal when desired. While traditional finance companies may not offer all the new and unique opportunities and potential of DeFi, what they do enjoy is a long history and established methods for protecting consumers’ investments — and maintaining their trust. Below, 10 members of Cointelegraph Innovation Circle discuss some helpful things the crypto industry can learn from the TradFi industry, including practices DeFi companies should consider adopting and adapting for their own customer base.

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Full transparency around transactions, projects and technologies is the only way crypto can grow as an industry.   In the midst of a bear market, the last story the crypto industry wanted to see hit the headlines was the debacle at FTX. It’s a story centered on the biggest negative perception many in the public still have of the crypto industry: that transactions regularly happen out of public view for the benefit of a handful of bad actors and at the expense of customers. Whether it’s fair or not, this negative reputation of crypto is something honest crypto leaders and companies will have to overcome, and the best way to do that is by ensuring current customers know what’s going on with the assets they’ve invested and that potential investors clearly understand the potential the industry offers. Below, 15 members of Cointelegraph Innovation Circle discuss ways crypto companies can provide improved transparency for their customers.

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Changing negative perceptions of the crypto industry entails a combination of education and consistent, smart SOPs. While it has staunch defenders and high-profile enthusiasts, there’s no question the crypto industry has been the subject of intense scrutiny. Many leading voices, from media figures and financial pundits to elected officials, fairly regularly publish opinions on crypto ranging from skeptical to downright hostile. And a recent spate of less-than-positive events in the crypto space isn’t helping to enhance the industry’s broader reputation. While industry leaders can’t change the past or control the actions of unscrupulous actors, they can do more to strengthen crypto’s foundation and spread the word about the space’s positive potential. Below, 16 members of Cointelegraph Innovation Circle share practical ways industry leaders can help improve crypto’s reputation among the general public.

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While rising interest rates can entail increased risk for the crypto industry, they may also bring new opportunities. As a new and distinctive industry, it can be easy to forget that crypto is subject to impact from overall economic conditions and market forces, just like any other sector. Crypto business leaders must pay attention to rising interest rates and pivot as necessary to both manage new risks and take advantage of possible new rewards.  From the potential downsides — like difficulties in accessing funding — to the possible silver linings — like new interest in crypto from investors looking to outpace inflation — rising interest rates will certainly bring changes to the industry. Below, 15 members of Cointelegraph Innovation Circle discuss important issues crypto leaders should focus on as interest rates rise, and why.

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No industry’s immune to the effects of a bear market, and Web3 creators must adapt to weather the evolving economic conditions. After several years of a bull market, entrepreneurs across industries — including many Web3 creators — are facing sustained bearish market conditions for the first time. While it’s important not to panic, Web3 creators can’t ignore or hide from prevailing economic conditions if they hope to survive until an upturn. There are smart strategies that can see those in the Web3 community through current conditions — often refocusing on the fundamentals is a place to start. Here, 16 members of Cointelegraph Innovation Circle share important things Web3 creators should focus on during a bear market, and why.

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Crypto is a new frontier, and before taking steps, regulators need to learn its nuances, not just rely on historic precedents. What may be coming in terms of industry regulation is a common concern and area of speculation among crypto insiders. As regulators steadily prepare for crypto’s growth, they may be struggling with confusion around its new and varied assets, or they may be wondering if there are aspects of the underlying technology that must also be addressed. As the people who best understand the industry, its technology and its unique assets, crypto leaders need to ensure their input is heard by global regulatory agencies. Here, 13 members of Cointelegraph Innovation Circle share important things regulators should keep in mind when reviewing crypto as an asset class.

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The ETH Merge is set to usher in multiple positive changes for crypto, and insiders need to be prepared. In September 2022, the much-anticipated (and repeatedly delayed) Ethereum Merge was realized. The shift from a proof-of-work to a proof-of-stake mechanism is slated to come with multiple benefits, from significantly reduced energy consumption to far higher total transactions per second to lower transaction fees (aka “gas” prices). The Merge may well address the most prominent concerns that have been keeping companies and users out of crypto. For companies and users already established in the industry, knowing what’s to come can place them ahead of the game and ready them for the accompanying rise in business. Below, 10 members of Cointelegraph Innovation Circle discuss the ways they believe the ETH Merge will change the crypto industry for good.

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The crypto industry might gain traction and win consumer confidence more quickly by learning some do’s (and don’ts)  from traditional markets. There’s an old saying that many of us live by, whether consciously or not: better the devil you know than the devil you don’t. While the stock market and traditional investment tools carry many of the same risks as cryptocurrency and decentralized finance, they’re familiar to investors, there are thousands of industry experts and financial firms, and there are uncounted digital media and print resources to help guide both newcomers and seasoned traders. While leaning into the unique benefits and potential of crypto, it may be wise for cryptocurrency exchanges and platforms to look to traditional markets to gain insights on managing risk and boosting investor confidence. Below, 11 members of Cointelegraph Innovation Circle share lessons crypto exchanges can learn from traditional markets and finance.

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In July 2022, the Law Commission of England and Wales published a set of proposals aimed at protecting purchasers of digital assets like nonfungible tokens and cryptocurrencies. Citing the rapid growth in ownership and trading of NFTs and cryptocurrencies, the commission worked with legal experts, technologists and crypto users to develop a set of recommendations that includes the creation of a new, unique category of personal property for digital assets and clarifications to existing laws around ownership, control and transfer of digital assets. The goal, the commission says, is to “deliver wider recognition and legal protections for digital assets, allowing a more diverse range of people, groups and companies to interact online and benefit from them.”  Most crypto leaders agree that the industry needs more regulatory oversight to grow, and many view this move by the U.K. as a step in the right direction. However, it’s wise for participants in the crypto community to educate themselves not only on the new proposals but also on being responsible crypto owners, because it may be some time before digital assets enjoy full de facto legal protection. Here, eight members of Cointelegraph Innovation Circle share important things the crypto community needs to keep in mind, even as the U.K. starts to turn attention toward better protecting consumers’ crypto assets.

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Blockchain technology is about much more than cryptocurrency; its current and potential uses could permanently transform multiple industries. In the wider public community, blockchain technology may be best known as the engine powering cryptocurrencies. But while there may be growing understanding about what the technology does do, many outside the crypto industry may not grasp what it could do. Blockchain technology doesn’t need to be locked into cryptocurrency. Instant, open and secure digital transactions could be leveraged by governments, businesses and consumers to simplify and secure a variety of processes and functions. Here, 10 members of Cointelegraph Innovation Circle discuss ways blockchain technology is (and could be) revolutionizing a variety of transactions and interactions.

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Building momentum in a crypto marketing role can only come through a deep understanding of the space. Becoming a successful marketing pro with a focus on a new industry is challenging. When that industry is built on new technology and revolutionary ideas about how that technology can transform the ways we do business, the challenge rises to a whole new level. The crypto industry faces something of a PR headwind, as many traditional media sources and consumers don’t understand the underlying technology or its full potential. Finding success as a crypto marketer means equipping yourself with the experience and knowledge to educate and inspire the next generation of crypto enthusiasts. Below, 10 members of Cointelegraph Innovation Circle share their tips to help aspiring crypto marketers “level up.”

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To garner more adoption, the DeFi industry must proactively address both actual and perceived barriers to entry.  Decentralized finance has the potential to bring revolutionary ease and security to financial transactions through the use of blockchain technology. And with its ability to introduce a unified, standardized system across the globe, DeFi can open up new financial opportunities to those who may not have had them before. As with much of the crypto industry, however, DeFi struggles with both prevailing ignorance of its structure and capabilities, as well as widespread skepticism about its trustworthiness and scope. Below, 15 members of Cointelegraph Innovation Circle share ways DeFi pioneers can help build the industry’s credibility and reach.

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The digital asset space has acquired a reputation for being overly complicated, and it doesn’t have to be that way.

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Blending strong customer service with a commitment to transparency can help new and growing crypto businesses earn market trust.  Gaining market trust is an early hurdle for any new company — gaining market trust as a new company in a new industry is an even bigger challenge. Those new to the crypto industry can be wary because they’re still learning its complexities and technologies, while those who have been in crypto for a while place a high value on transparency and community. According to crypto leaders, combining robust customer service with transparency about their work in an ever-evolving industry helps earn the trust of customers and colleagues. Here, 11 members of Cointelegraph Innovation Circle share specifics about what they’re doing to foster trust in their unique missions and work.

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Both newcomers and industry experts need to be aware of the presence of bad actors in crypto and be cautious in extending trust. The crypto industry is sometimes decried as being a haven for fraud, but since the dawn of business and industry, there have always been those who are willing to take advantage of others to get ahead. The difference in crypto may be the sophisticated methods available to and regularly leveraged by tech-savvy fraudsters. A strength of crypto over earlier industries is its enthusiastic digital community. This makes it possible for both newcomers to crypto and those with expertise in the industry to steer clear of fraud — but it requires a blend of healthy skepticism with careful research. Here, eight members of Cointelegraph Innovation Circle share strategies everyone who is or is becoming active in crypto should leverage to avoid fraud.

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Crypto leaders’ toughest challenge may be countering the widespread misinformation circulating about the industry. The crypto industry has proven skeptics wrong on many fronts, but myths still persist that may be keeping newcomers out. As a digital industry, crypto may intimidate those who aren’t already tech-savvy. Others may misunderstand how blockchain and crypto technologies function and struggle with trust, or worry that issues like regulation and environmental impact aren’t being seriously considered by industry insiders. There are several myths that are likely holding the industry back, and it’s up to crypto insiders and leaders to address them head-on. Here, 11 members of Cointelegraph Innovation Circle discuss the misinformation about the crypto industry that’s in widespread circulation and the truth that needs to be shared.

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Crypto comes with many unknowns, and it’s essential to find ways to help those new to the space.Launching a new business in any industry is a challenge, but in a new space like crypto, the unknowns can be particularly daunting. There has been a lot of digital ink spilled about the industry in recent months, but with much of it geared toward insiders, newcomers may be feeling lost.Top that with the scramble for talent that’s happening across industries, and jumping into crypto may seem impossible for someone who has enthusiasm, but lacks the tech expertise. Pinning down what’s keeping newcomers out, and working together on solutions, is a vital role for those already winning in the industry. Below, 11 members of Cointelegraph Innovation Circle share the barriers they’ve observed and potential solutions.

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What someone has done in crypto is important, but why they have done it may be even more so.Whether you’re searching for a new partner or employee or just looking to build your network, due diligence is particularly important in the crypto space. Newcomers may need more time to come to grips with the industry’s nuances and potential, and there are also unscrupulous actors interested only in a quick profit.The members of Cointelegraph Innovation Circle know both the positive indicators and the warning signs to look for. Below, 12 of them discuss the signs that show them someone is a crypto connection worth pursuing.