Crypto has laid the foundation, but the products are still lacking. This sentiment was echoed at the recent Ethereum development conference in Denver, where attendees discussed the need to shift focus from the market downturn to building better Web3 products.
John Paller, founder of $ETH Denver, and Zachary Williamson, founder of the Aztec Foundation, both highlighted the challenges of blockchain technology in attracting mainstream users.
Paller emphasized that while significant progress has been made in developing the technology infrastructure, Web3 has struggled to offer compelling decentralized alternatives to everyday digital tools. Despite efforts, Web3 apps have not been able to replace their centralized counterparts.
Crypto built the infrastructure, but not the products people actually want to use
— Decrypt (@DecryptMedia) February 20, 2026
Paller pointed out that Web3 has failed to meet consumer expectations for cheaper, faster, and better technology. He noted that blockchains are not necessarily cheaper or faster, and the user experience is often lacking.
Williamson also highlighted the negative perception of crypto among the general public, attributing it to scams and lack of real-world adoption. He emphasized the need for crypto apps to offer superior user experiences compared to Web2 alternatives.
Both founders agreed that the technical barriers of crypto apps, such as the need to understand wallets and private keys, hinder mainstream adoption. They suggested that for blockchain to succeed, it should operate seamlessly within existing applications without users needing to be aware of it.
They drew parallels to the early days of the internet and emphasized the importance of prioritizing value-driven products in the current market downturn. Williamson stressed the need to reduce the noise in the industry and focus on delivering tangible benefits to users.