Shiran Herzberg

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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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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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2021 was a breakout year for social media's impact on investment decisions.

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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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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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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.