Khushi V Rangdhol
Apr 02, 2025 01:08
Crypto for Everyone: Crypto must focus on real-world utility and user experience to gain mainstream acceptance and rebuild trust.
Consensus Hong Kong 2025 delivered a powerful message: If cryptocurrency wants to go mainstream, it’s time to stop chasing after techy ideals and start focusing on delivering real-world utility.
While the blockchain space has often been driven by a love for decentralization and speculative trading, the future of crypto will depend on how well it meets the everyday needs of real people. As Jack Booth, co-founder of TON Society, put it: “We need to stop focusing on decentralization, technology, and financialization and start focusing on the real value that crypto brings to users, just like Web2 platforms have done.” In other words, to win over the average user, crypto must prioritize user-friendliness, reliability, and tangible benefits over buzzwords and theoretical debates.
Stablecoins: Crypto’s Practical Powerhouse
Stablecoins took center stage as one of crypto’s most compelling real-world use cases. According to Booth, “Stablecoins allow users to send money globally with low fees, and for citizens in developing countries, they offer a way to protect against inflation.” And it’s not just theory—TON’s integration with Telegram, where Tether (USDT) is used for in-app transactions, demonstrates that stablecoins can be as functional as any mainstream payment system.
“We’re doing volumes similar to major payment networks, like Kakao Pay in Korea,” Booth shared. This is what you might call crypto’s first true “killer app”—easy-to-use, practical, and already in action.
The conversation also highlighted the role of soulbound tokens—non-transferable NFTs—being explored for digital identity on TON. These tokens could enable users to verify their identity or reputation without relying on third-party verification, proving that crypto has much more to offer than just speculative trading.
Making Crypto Part of Daily Life
Another exciting discussion centered around crypto’s seamless integration into the platforms we already use. The partnership between TON and Telegram is a prime example of crypto fitting naturally into users’ daily routines. Features like Telegram Gifts allow users to send virtual gifts, which could later be converted into NFTs on the TON blockchain. It’s a great example of how crypto can enrich social interactions without forcing people to switch to new apps or services.
As one panelist pointed out, “The key is to make crypto a super app… something that people use seamlessly without worrying about the underlying technology.” TON Connect, which allows users to access blockchain-powered apps directly from Telegram, is a prime example of this vision. It’s proof that blockchain technology can be integrated into social apps in a way that feels natural and intuitive—no complicated tech knowledge required.
Rebuilding Trust with Practical Benefits
After the collapse of major players like FTX, trust in crypto has understandably been shaken. But at Consensus HK 2025, speakers agreed that the way forward is to focus on the practical benefits of crypto, such as low-cost cross-border transfers and the ability to self-custody assets.
“The big advantage of crypto is the removal of intermediaries,” one speaker noted. By allowing users to hold their own assets, crypto offers an alternative to the risks associated with traditional financial systems. This approach prioritizes real value over ideological debates, and it’s key to rebuilding public trust in the crypto space.
The message from Consensus Hong Kong 2025 was clear: The future of crypto lies in solving real-world problems and making blockchain technology accessible to everyone. As crypto continues to integrate into everyday platforms, the focus on utility and user experience will fuel the next wave of growth for the industry.
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