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Social applications are the next big trend in crypto

Published 06/05/2021, 06:12 AM
Updated 06/06/2021, 08:20 AM
Social applications are the next big trend in crypto

Last week’s tumultuous 30% crypto market dip and subsequent quick recovery left many wondering what comes next. Crypto circles aside, the conversation around the importance of building solid, broadly usable applications is louder than ever. Crypto will cease to be perceived as a casino on the edges of the internet when participation outweighs speculation.

An interesting dynamic we are seeing is that the conversations around the future of Web 3.0 are still happening on centralized Web 2.0 platforms. The need for crypto-native principles and flows within the social application landscape is clear. Adding privacy and security to the communication and community interaction layer will ensure the switch from centralized power to empowering individuals and communities finally gets underway.

Simona Pop is the head of community at Status, a secure messaging app, crypto wallet and Web 3.0 browser. She previously co-founded the Bounties Network and is an active Ethereum ecosystem steward, working across community engagement initiatives, educational programs and real-world use of crypto. Her work is all about broadening access to decentralized applications and crypto dynamics for everyone, empowering individuals and communities through token economics.

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