Five Essentials for Empowering the Next Generation of Blockchain Leaders [an “Open Notes” article from H.E. Justin Sun]
CONSIDER THIS: The blockchain builders who endure this crypto winter and then spring to life in the coming recovery will position themselves as the “next generation” of industry leaders who forever influence the establishment of a new web3 world.
I recently had the opportunity to speak with Zack Seward, the Contributing Editor at Large for CoinDesk. We conversed about “Empowering the Next Generation of Blockchain Leaders.” He asked about a variety of things, but the overall focus was on the unique opportunities I believe are coming for the next generation of blockchain builders.
Here are five essentials for empowering the next generation of blockchain leaders for success in this coming year and beyond:
# 1 Endurance
DON’T GIVE UP!!! I believe we are at the bottom of this crypto market now. If we can hold fast, survive in the next six months, and endure this moment of fear, I am confident better days are ahead. Although it likely won’t be like the bull run of 2021, I feel next year will be a good year. If you’re thinking about giving up on crypto at this moment, hang in there.
# 2 Optimization
In moments of a downturn like this current one we are in, we need more than optimism. We need optimization. In tough times, the fearful run, but the advantageous strengthen. Now is the time to make wiser, stronger hires, bringing on the best of the best to build for the next phase of market growth. Optimize your teams and your terms, your vision and your strategy, your marketing and your implementation. Make the most of what your team can do together, valuing highly the contribution each member can make. You will not regret it.
# 3 Utility
Build applications that will be integral to the future of the global economy and the global community. Everyday on-chain solutions for everyday off-chain problems are needed. I am a big fan of blockchain solutions for decentralized identity. In the future, no matter where you are based, you will be able to get your digital ID from any country in the world with a blockchain-based global identity system. I also see a great need for viable web3 financial solutions. Basically, our traditional financial system will not be able to handle the needs of web3 internet applications. Any company as well as any country in the world that wants to be strong in the web3 future and in the next generation of web development will have to get into blockchain and cryptocurrency. Yet another example of needed utility is a more user-friendly, self-custody crypto wallet. Zack asked me where I keep my Bitcoin and crypto. I told him almost all of it is in self-custody. But for those new to crypto, self-custody of their assets can be cumbersome. We must make it easier.
# 4 Interoperability
The web3 world will be seamlessly interoperable. I am convinced of this. Let me clarify, though. I believe a number of Layer-1 blockchains will be interconnected but NOT necessarily interdependent. That’s the beauty of blockchain technology and decentralized finance. Builders need to build on blockchains that offer secure bridges and cross-chain solutions, so that the decentralized applications they create can be used in commerce and in communities across multiple Layer1 chains.
# 5 Education
Bite-sized education for users is much needed. In order to empower the next generation of blockchain leaders, we must provide this education through multiple mediums. TRON recently launched TRONPedia. It is a go-to source for learning about crypto, stablecoins, blockchain tech, NFTs, web3, DeFi, and even GameFi. We have also been working with Ledger to help people learn how to use hot and cold wallets in unison, in order to better safeguard user assets.
| CONCLUSION |
I believe 2023 will be a year of recovery. All of us in crypto have experienced a painful season in 2022. We need to be patient as we recover from these bearish markets, but I believe we will. I am very bullish in terms of cryptocurrency in Asia, because we have seen user adoption and potential use cases grow there so much. Also in Africa and the Caribbean, I believe there will be very important growth opportunities for the crypto industry in 2023. Ultimately, though, now is the time to focus and build. If we commit the time and resources to empower the next generation of blockchain leaders, we will reap the rewards in the coming Spring that follows this Crypto Winter.
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