Unlocking Web3's Economic Potential Through Existing Payment Infrastructure

The Key to Web3's Economic Utility

The economic potential of Web3, the next evolution of the internet, hinges on leveraging existing payment onramps and offramps. This was emphasized by Max Rothman, Checkout.com's VP of Crypto and Digital Assets. He highlighted that Web2 and Web3 companies currently operate in siloed ecosystems, missing out on mutual benefits.

Bridging the Gap Between Web2 and Web3

Web2 companies have perfected seamless online payments and user experiences, while Web3 firms struggle to attract and retain users due to limited access to fiat-to-crypto conversions. Rothman stressed that Web3's growth depends on enabling a steady flow of users who can easily convert fiat currency into crypto.

The Importance of Fiat in Web3's Growth

For Web3 to thrive, it must tap into the existing financial infrastructure. By integrating traditional payment systems, Web3 companies can bridge the gap between fiat and crypto, creating a more accessible and user-friendly environment. This collaboration is essential for driving adoption and unlocking Web3's full economic potential.

Conclusion

The future of Web3 relies on embracing the strengths of both Web2 and Web3. By leveraging existing payment infrastructure, Web3 can overcome its current limitations and achieve widespread adoption.