The following is a guest article from Jackie Bona, co-founder and CEO of Valora.
Five challenges hindering mass adoption
In today’s digital world, mobile technology is more than just a convenience: it’s a lifeline that connects billions of people to the Internet. Of more than 8.58 billion mobile phones worldwide – they outnumber the world’s population – smartphones have evolved into essential tools for communication, commerce and financial management. Despite Web3’s potential to transform industries, financial systems and digital interactions, it is still waiting for its ‘Apple moment’: the pivotal event that makes a disruptive technology intuitive and accessible to the masses.
So what’s holding it back? For Web3 to make the leap from an emerging technology to widespread adoption, it must overcome five major obstacles.
A lack of mobile-native solutions
Despite smartphones being the primary device for billions of users, Web3 applications remain largely limited to desktop environments. Recent reports show that 92.1% of global internet users connect via mobile phones, but that’s just the case 8 of the top 100 Web3 dApps on DappRadar offer mobile-native experiences. Why the gap?
This gap is especially problematic in emerging markets, where mobile phones are often the only means of accessing the internet. In countries such as Vietnam, India, the Philippines and South Africa, for example, more than 70% of adults own their mobile devices as the only way to connect to the internet.
One of the top ecosystems working to close the mobile divide is the Celo community. As leading blockchain-enabled projects built with a mobile-first approach – including projects like Valora, Mento Labs and Opera’s Mini Pay – the Celo community is responding to the opportunity to deliver practical web3-powered solutions to a mobile-first world. The strategy is already paying off, as Celo reached nearly 700,000 daily active addresses using stablecoins in September, demonstrating the appetite for mobile-native solutions.
The positive response to Opera MiniPay, which has exceeded expectations, also underlines how well the mobile-first design fits the needs of the current market. 3 million wallets across the African continent. By prioritizing convenience and affordability, Opera MiniPay has made digital financing accessible in regions with limited traditional banking infrastructure, growing their user base. This demonstrates the power of mobile-centric solutions in expanding access to digital assets – especially in areas where financial inclusion is a key challenge – and underlines the market opportunity for Web3 companies to provide mobile-centric solutions.
Complex user interfaces
For the average person, interacting with Web3 applications can be an intimidating experience, especially when you consider the complexities of managing security and digital assets. Please note that more than two-thirds of Web2 users use the same password for all their accounts, highlighting how difficult it can be for regular users to navigate Web3’s unique requirements.
Blockchain, decentralized finance (DeFi) and digital wallets often come with steep learning curves, including security measures such as seed phrases or complex keys, making it challenging for people to confidently use the technology.
Although Web3 continues to innovate, its user base has remained limited 220 million active addresses recorded in September this year – a number that pales in comparison to the billions who regularly interact with Web2 platforms.
This has not gone unnoticed by the Web3 community. Nearly 1 in 4 Web3 users cite complicated user interfaces and complex onboarding as barriers to mass adoption. By focusing on simplifying user experiences, Web3 platforms can create inviting entry points for individuals new to blockchain and decentralized finance.
Little familiarity with Web3
Despite its transformative potential, Web3 remains relatively unknown to the general public. Surveys only indicate that 8% of the people are even aware of Web3’s existence, making this low level of awareness one of the biggest hurdles to achieving mainstream adoption.
The lack of awareness is especially problematic in regions where Web3 could have the greatest impact: emerging markets where traditional banking services are underdeveloped or inaccessible.
The World Bank estimates so 1.4 billion people in these regions who do not have access to financial services. Web3 has the potential to empower these underserved communities by providing decentralized solutions to long-standing problems such as access to credit, high transaction costs and currency instability. However, without effective education and outreach, many people remain unaware of how these decentralized technologies can benefit their lives.
Bridging this gap requires a focused effort to introduce users to Web3’s real-world applications. For example the Valora Learning Programa partnership between Valora, Tether and Celo, leverages Valora’s mobile-first design to deliver hands-on learning experiences to users in emerging markets.
This initiative has already activated over 75,000 users in Nigeria and is expanding to Vietnam, South Africa and Brazil to empower even more people through the adoption of stablecoins and seamless, borderless crypto transactions. Through accessible modules, users can learn while they earn, experiencing firsthand the benefits of financial freedom with USDT and the fully mobile Valora wallet.
Programs like Valora Learn & Earn enable users to understand stablecoin use cases such as secure transfers, savings, and cross-border payments, allowing individuals to take control of their finances with practical applications that fit into everyday life.
By making educational content accessible on mobile devices, apps like Valora turn curiosity into meaningful engagement, driving real-world adoption of Web3 in emerging markets.
The digital divide
In many emerging markets, where access to traditional banking and financial services is limited, mobile technology has become the gateway to the global digital economy. However, a significant digital divide remains, and UN experts fear this 2.7 billion people worldwide are at risk of not having internet access due to the costs of upgrading broadband infrastructure and outdated technology.
In countries like Brazil, Turkey and Vietnam, where crypto adoption is taking place above average growththe demand for digital assets is clear. Although there are millions of people in such emerging markets who own their mobile devices, many respondents mention this costs as a reason why they may not be able to have their own country.
An example of how this can be addressed is Jambo’s collaboration with the Aptos Foundation. By making affordable, Internet-enabled smartphones with Web3 capabilities available to users in more than 40 countries across Africa, Southeast Asia and Latin America, Jambo is helping to close the digital divide and bring more users from emerging markets online.
As Jambo has shown, to truly unlock its potential, the industry must meet these customers where they are, and create onboarding platforms that can help close or circumvent the digital divide.
Moving beyond speculation: stablecoins as evidence of Web3’s real-world use
Web3’s reputation has long been tied to speculation and investment, but lately increase in the use of stablecoins points to a shift towards practical, real-world applications. Stablecoins – digital assets pegged to traditional currencies such as the US dollar – have achieved significant product market fit by providing a stable and accessible way to make daily transactions, savings and cross-border payments, without the volatility that often defines the crypto market. This stability makes stablecoins attractive to users looking for digital tools they can rely on for everyday financial needs.
In emerging markets, where banks have access remains limited, stablecoins provide individuals with a means to store and transfer value globally, essentially serving as a “bank in their pocket.” Programs that allow users to earn and use stablecoins help introduce people to digital assets that they can use meaningfully in their daily lives.
Through stablecoins, Web3 shows how digital assets can deliver value beyond speculation, promoting financial empowerment and stability.
This increase in stablecoin usage shows that people want more from Web3 than just high-risk returns; they are looking for reliable digital tools to support their financial lives. By emphasizing stablecoins and other practical applications, Web3 can shift from its speculative image to a system that promotes inclusion, ultimately broadening its appeal and encouraging greater adoption.
The Way Forward: Embracing Mobile for the Future of Web3
While Web3 is on the cusp of revolutionizing global industries, financial systems and digital interactions, the path to mainstream adoption is still hampered by several critical challenges. At the heart of overcoming these obstacles lies a powerful and obvious solution: embracing mobile technology. With the majority of global Internet users now able to access the Internet in the palm of their hands, the transition from desktop-centric platforms to mobile-first solutions is not only necessary, but inevitable.
The stakes are high. If Web3 fails to fully embrace mobile technology, it risks being limited to a niche audience, limiting its global impact. However, by tackling these five key challenges and fully embracing the mobile revolution, Web3 can finally have its Apple moment.
