The management of the cryptocurrency company Quadrata believes that the complexity of using the functionality of crypto platforms hinders the development of the cryptocurrency industry.
Quadrata CEO Fabrice Cheng thinksthat for the global adoption of cryptocurrencies, project developers must focus on the simplicity and convenience of products for users. Cheng explained that signing up is the first step for any potential user, so providing an intuitive login is an opportunity for any project team to make a lasting first impression.
Adherence to Know Your Customer (KYC), rather than labor-intensive protocols, is one way new projects can attract users, Cheng said. The co-founder of Quadrata believes that another step in the popularization of projects is the creation of a reliable network of partners.
According to Cheng, these could be interoperable blockchains or DeFi. Cheng believes that there are many projects in the cryptocurrency market with limited interoperability, so users, alas, have to “juggle with many different accounts and applications.”
A platform with an extensive and compatible network of partners could provide users with countless ways to use one platform, Quadrata’s CEO dreams.
Cheng believes that the growth of the crypto industry requires a constant influx of new users. According to the head of Quadrata, the provision of educational content is the first step towards creating the foundation that will allow for a revolution in the economy.
The crypto industry is not for everyone, so finding additional ways to encourage new users to join the digital asset space is essential. According to Cheng, the offer of unsecured loans helps bridge the wealth gap between the haves and have-nots.
The end goal is for blockchain technology to be built into applications to the point where users don’t even need to know they are on the blockchain. Cheng is confident that when applications become as intuitive and understandable as the traditional financial instruments that users download by the millions, we will see an unprecedented increase in the number of digital asset users.
Crypto projects are trying to provide access to knowledge about digital currencies to attract newcomers to the industry. Crypto exchange FTX US announced in May that it was going to teach financial literacy to the poor in Chicago.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
