Why we don't have innovative builders in crypto anymore....
Okay, so, all over Twitter, people are currently launching their token on chains like ROBINHOOD and SOLANA, paying KOLS to market the token by talking about it on their profile, giving the contract address and asking people to ape in.
Someone started it a while back, a few people copied it, now someone in the African space decided to try it out, and then a lot of people followed suit.
Looking at it all, I felt really sad because this is the new normal. Chain are being built and customized for people to launch their own token, there's no gatekeeping in what could be built.
A legit builder woke up one day and thought to himself "well let me launch a chain where people can create that other token, earn fees and then allow the owners to rug whoever buys these tokens.
First we had PUMPFUN do it, then FOMO decide to do it, it was already being done on SOLANA, and so with the space of two to three years, the most innovative thing to have ever been built.
It's ironic because if these are the most innovative crypto features to have been built in the last 2 to 3 years, then crypto builders are gradually losing it.
I've been saying this for a long time, that crypto builders are no longer innovative
Just a bunch of scammers like JUSTIN SUN and SBF. you'll be shocked that a lot of these scammers are even worse than SBF, and they're currently building grifts to take money off people.
Whether it's because they think everything in crypto has been built, or they just can sit and come up with real life financial integrations that can work in crypto then I honestly don't know.
Smart contract needs innovation
I mentioned a few months back that smart contract is weak and currently the highest funnel of scam in the crypto space, yet no one is building something that instantly solves this. Safety in crypto is one of the biggest concerns that's currently still preventing onboarding in massive scale, but no one is looking at that.
A few days back, BITGET wallet was hacked for 350M dollars, and the mechanism through which this hack happened shows a loophole, a problem that is currently begging to be solved. Those who are providing security in cooperate and traditional finance are currently making a lot of money.
For example, look at a credit card, it goes through several machines and somehow it stays safe for the owner to continue using. Now I'm not comparing traditional finance to crypto.
Traditional finance needs crypto
Crypto finance is obviously way more vast, but the point is, finance is finance whether it's traditional or crypto, it's the same human mechanism that can build innovative solution, because crypto safety is begging for products to be built.
Also, traditional finance needs a true merger with crypto finance. For example imagine how an airplane connects different countries, and an innovation as the telephone does same jobs.
People who are building systems that are meant to connect people, finance and commercial sector are making a lot of money. We currently still haven't built crypto ATM machines, we have built products that where people can easily use crypto for commerce without even understanding the concepts of wallets.
Imagine crypto in their true form being sent into traditional banks, keeping the true form their, used as a wager of payment, effortless bridging from multiple chains without people even understanding the meaning of crypto and Blockchain, apparently all these are still there to be explored.....
but of course, a lot of useless crypto builders are concerned about building pump and dump schemes all in the name of chains, and creating more SCAMS for people to get rugged and stolen from.
In reality, I think it's a very big problem though.
The lack of innovative build is stifling adoption, and for a very long time, I believe this is probably why the market may have not been experiencing the crazy bullish signals that were synonymous with 2017 and 2021.
For example, Vitalik who is the father of smart contract has failed to better the tech, and his invention is now being used as a gateway for people to be scammed and as an owner of that crypto innovation, he still hasn't deemed it worthy to build counter security measures that doesn't expose or leave people vulnerable to scammers whose jobs is to develop new ways to take advantage of the loopholes in smart contracts.
It's honestly very concerning out there.
The best tech, project and products are flying under the radar, but gambling tech, pump and dumps are being preached and saturated everywhere.
I don't know if it's probably because crypto onboarding is done for the wrong reasons or the right reasons for onboarding aren't happening. But it's honestly crazy that a lot of concentration is being focused on the pump and dump aspect of crypto, when so many things are waiting and begging to be explored.