ZERO's Ethos - Betting on Utility Accrual

While a huge portion of people believe in the future that blockchain technology holds, there are others who are on a far extreme, proponing disbelief (popularly called FUD), and rightfully so. FUDders have every right to believe in what they do, especially considering the current state of the industry.

Web3 has lost its true vision, the long game, to stand on utility rather than being a quick cash grab scheme. This can be exemplified through the likes of FTX, rug pulls, abandoned projects (after raising funds), the NFT craze, farming, etc. These have solidified a strong confirmation bias in the minds of many, who directly or indirectly are causing a steady decline in web3's true growth potential.

We've been identified as creating unsustainable financial architectures, one that relies on trends and speculations, over usefulness. Most parts of several cycles have relied on pyramid/ponzi schemes, quickly crumbling into bear markets. But I think it could all change if we start looking in the right places.

I like to look at utility accrual as the process of generating increasing value and impact over time by integrating a new technology into existing systems or processes, starting with a simple, easily understood use case.

In the context of Web3, utility accrual means prioritizing the development of blockchain-based applications that solve real problems for individuals and businesses. Now let's understand how this concerns all of us.

For the longest time, the web3 industry has strived under a not so newly founded ethos. One that aims to compete with and replace old systems entirely, from banking to the way money inherently works. But with the current state of the world, the "Grand" vision isn't possible (not to say it can't become a reality). With every past innovation, there's a trend of improving existing infrastructure till all the current ills of the system has been replaced with the newly established technology.

I believe that for web3 to gain true utility, current organisations should build solutions on existing infrastrucure with blockchain technologies. One that provides more equitable and open systems and policies.

Web3 needs to focus on developing applications that solve real-world problems and provide tangible value to users. This could be anything from secure identity management (like ZERO Protocol) to supply chain tracking to open decentralized finance solutions. These applications should be user-friendly, clear, concise and integrate with existing systems to enhance their functionality. As these applications gain traction and prove their value, they can unlock further innovation and create a more sustainable web3 ecosystem.

At ZERO Labs, we have a few guiding principles that helps foster our drive for innovation. We prioritize building applications that solve real-world problems and provide tangible value to users by striving to create user-friendly solutions that are accessible to a wide audience, regardless of their technical expertise. Putting our focus on building sustainable solutions that deliver lasting value, rather than chasing short-term gains.

We are set out to solve the disturbing issues surrounding identity, proving humanness and credentials. Embracing open standards and protocols to ensure our solutions can seamlessly integrate with other platforms and applications.

We are dedicated to building a thriving web3 ecosystem where blockchain technology delivers tangible value to real-world problems, starting with simple, user-centric solutions that gradually accrue utility and drive innovation. We believe in the power of collaboration to create innovative solutions that benefit the entire digital community at large.

If you read it this far, thanks for your time. While I tried my best, I barely touched on important aspects of truly unlocking utility for web3. This is a four minutes read and covering a lot isn't optimal here. Hopefully I can get to give talks and participate in open ended conversations on podcasts and interviews in the near future.

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