Polkadot Decoded 2023 Proposes Focus On Value Creation

The mantra for this year's Polkadot Decoded 2023 conference is to focus on creating better products instead of worrying about token prices.

The Polkadot Decoded 2023 conference has just ended and this year there are more than 100 speakers and 100 blockchain projects. The beauty of crypto bear markets is that they align with logic and purpose. All hidden leverage is gone and most speculation is gone. SBF is out. Do Kwon left. The three capitals of the Arrows, Su Zhu, Kyle Davies, and a few other marketers and snake oil dealers were fired.

And justice for all. Crypto does not need hopium, messiahs, populists, and dream sellers. What we need are builders, new ideas, product and marketing solutions, and some real world applications. That's what I love about the blockchain community. Especially during bear markets.

The first house concept is the Polkadot Decoded vibe. Over the past two days, a close-knit brother and sister group of developers, investors, representatives and a few journalists like me gathered at the Øksnehallen conference hall in 'a street with a lot of holes in the center of Copenhagen, Denmark.

The place almost sings because it's a surprisingly quiet space cleverly thrown into the heart of a growing city, and the ethos continues through the conference program here. emphasizes:

- Create a better relationship between the services in the Polkadot environment;

- Make blockchain more developer-friendly; And

- Repair bridges connecting Polkadot to Ethereum, Cosmos and other blockchains.

Hardly anyone is talking about airdrops, token prices, memecoins, Bitcoin breaking all-time highs, or general discussion topics that make up most crypto discussions. It's more than a dollar sign.

Instead of price, the panelists discussed the challenges and occasional successes of helping TradFi and Web2 companies transition to Web3, the process of making VC funding visible, and the need to invest in all things crypto. jargon and rigamarole in the back of DApps and in front. -stop the UX to be transparent.

Many people have said that "blockchain", "crypto" and "Web3" should not be mentioned in websites, applications, service roadmaps, etc. According to Giulia Maresca, CEO of Public Pressure:

“ I think it's not about talking about technology, because people accept that they don't know how the phone works, or Google Maps, or any other technology. We need creating products that are easy for the user, and considering the benefits. that they are built on Web3 technology. It should be really easy for the user; it should not be complicated. We shouldn't be talking about wallets or bridges or crypto puzzles. People get scared as soon as you start talking about wallets. It should be as easy as using Instagram ”

Talking about Web3 and the need for crypto to have a better product-market in connection with the world's resources, I supported the open space for Polkadot Decoded, which focuses on entertainment and channels in music and cinema. It is an interesting discussion, given that the general consensus among producers and builders is that music and film will be the best when it comes to increasing taste, retention, and application of NFT in daily life.

During the panel, Maresca explained why he thinks there is a creative relationship between the creative industry and the Web3 concept:

“ Web3 is a Socratic and creative space, compatible with the work processes and ideas of artists and creators. ”

Maresca is convinced that NFT and the phygital experience will gain strong support in fashion design, the film industry and all aspects of the music industry. Giving a vivid example of how fashion brands like Diesel are entering the web3 space, Maresca explained:

“ Diesel wants to enter the Web3, so we helped them create a strong concept that uses music at the center of their strategy, so Diesel works as a search engine, identifying those who -creators and producers give them a voice for their art. 'We have already done a little bit with great success, but we are planning a big drop in early September that will phygital fall song. So I think a lot of the future right now is phygital; it's about providing experiences, facilities, what the community needs, i.e. living the VIP experience. They want things from the brand, not just clothes. They want to be part of the Diesel family. It's a long process and a lot of C-level education, but there are many opportunities for brands to work with the music community, fans and new fans. ”

Ed Hill, senior vice president of media operations at Beatport, emphasized that rather than just a buzzword, Web3 must be a visible and accessible concept within the media industry. information. Asked about the disconnect between consumer demand, creative intent, and the products and experiences the entertainment industry currently offers, Hill said:

“ It's a difficult question to answer, but we need to go deeper and build better communities. If you look at YouTube and Facebook, those platforms are the ones that build the audience, and everything What is important is the idea. , reaching, feeling and things like that. We need to go into the rural areas, but if we don't, that's why the young audience is leaving the traditional web2 media, I think over time, if and we build the best community from scratch, that space is in the middle. businesses, creators, and customers begin to close. ”

Community Members Are Victims, Not Just Customers

From my point of view and that of many who attended the conference, crypto is for the community, and the best projects often have a local approach where the community is the people who influence it and their wishes are taken into account in the management of the project . Historically, whenever the crypto industry deviates from this code of conduct and falls to the whims of profiteers and bullies, investors and the public are deprived their company in the project.

For businesses to migrate to Web3 successfully, developers, consumers, and community members must see that they are not the only actors in the process to focus on. and the creation of money, the choice of culture and the exchange of intellectual property. of the creators. in the business of selling trinkets. Crypto ads are also worth noting, but I digress. Similar thoughts, which culminated in an optimistic view of the future of Web3, expressed by Define Creative founder Finn Martin, who said:

"What excites me about Web3 is that it provides all the tools and solutions to solve the problems that traditional Web2 faces. By moving assets and channels you can make it visible to creators, you can give them income because now the kind of respect has been broken. As a music creator, you have a penny of every stream, all of which can be organized and managed through Web3.

Blockchains Need To Stop Trying To Be Jack-of-all-trades

In general, the large blockchain ecosystem has different effects where many goals and philosophies make investors and supporters feel lost in the sea. These services strive to clearly define their purpose. of market fit. They are still struggling with the age-old problem of encryption, which involves developing solutions to problems that are not common problems. What stands out to me most about Polkadot Decoded 2023 is the unified goal to make the channel easier to use for builders, investors and users.

Whether it is AMM, DEX project, loan market, blockchain game startup, IPFS security solution, or cross-chain bridge, each panel member referred to the importance of composability, interoperability and changing the concept of Web3 from ideas to reality by building infrastructure for. a successful project.