Could ReFi Solve Crypto’s Public Image Problem?
The crypto industry is facing a bit of a credibility crisis, but this is not really a new development. The criticism piles on heavy every few years when the market cools off, but even during bull markets any praise that the industry receives seems reluctant and half hearted.
This is because the technology is not very well-understood outside of the industry, and media only tends to focus on the speculative aspect of the space.
The mainstream view of crypto is that it is just a casino where rich people can get richer, and people think that there are no important use-cases for the technology.
This is why the Regenerative Finance (ReFi) sector is going to be so important as the crypto markets mature. Using this technology to help solve serious problems and make the average person’s life better can prove that this is about more than investing.
For a large number of people, having enough disposable income to invest in something seems so far out of reach, and it’s not going to be something that interests them.
When people see that blockchains are being used to help plant trees and provide for public goods, it will be much easier for them to see the value.
Not everyone in the crypto industry is familiar with ReFi yet either, because it is still a new and growing movement, but when we interact with other builders that are assisting with parts of our infrastructure, they are all very excited to see what we are working on at Solid World.
They are also excited to learn that there is a growing group of projects that are focused specifically on social and environmental causes.
If ReFi were the face of the crypto industry, the public perception would be radically different, so perhaps that is what we need.
Sure finance and web3 is important, but saving the world is the best value proposition of them all, and it could also be the solution to crypto’s public relations problem.
This week Rez, Head of Product at Solid World appeared on “This week in ReFi” to discuss the most recent news in the space. Check out the video and share your thoughts in the comments!
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