After experiencing a year of significant turbulence in 2022, the crypto market is getting ready for new challenges in 2023. According to experts interviewed by BeinCrypto recently, educating users about crypto assets is one of the main focuses of the industry.
In addition, the adoption of decentralized platforms is expected to increase in the coming months across the crypto market. With major companies going bankrupt in 2022, the focus this year is on data decentralization.
According to an interview with Boson Protocol’s CEO, Justin Banon, the use of decentralized platforms will allow more control for the user over the balance under custody. With the growing lack of trust in centralized exchanges, this should be a new trend for the crypto market by 2023.
“Decentralization can solve these problems and provide self-custody of assets and permissionless, untrusted transactions. I predict that we will start to see non-custodial, decentralized solutions resurging as individuals begin to see the value of untrust and decentralization.”
Education on crypto assets
In 2022, major crypto assets accumulated a sharp devaluation, with a bear market sentiment prevailing over the crypto market. In addition to the sharp drop in digital assets, large companies have faced liquidity problems over the past year, triggering numerous requests for judicial reorganizations.
For the CEO of Injective Labs, Eric Chen, the crypto market should bet on empowering users in 2023. This way, investors will have access to educational content that can guide them on how the crypto market works.
He explains that it is the responsibility of the crypto project to provide educational content on how the platform works. Therefore, Chen believes that training can alleviate the risks faced by crypto market users.
“When a user gets to the point of interacting with a new protocol, it’s up to each project to simplify the integration of its user.”
On the other hand, LedgerByte CEO said in an interview with BeingCypto that investors need access to content about the crypto market, in general. He says this training needs to bring information about blockchain technology and Web 3.0, for example.
“Currently, the general public thinks web 3.0 is only about crypto assets, which is not. For example, we now have smart contracts; we can process almost any information in the blockchain.”