ConsenSys slashes headcount 11% as chief economist reveals formula for adoption

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ConsenSys slashes headcount 11% as chief economist reveals formula for adoption
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  • 📰 Cointelegraph
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MetaMask parent firm ConsenSys has confirmed it's reducing headcount, while its chief economist has revealed what will really drive crypto mass adoption.

Speaking to Cointelegraph a few days before the layoffs were officially announced — though they had already been widely reported — Lex Sokolin, the chief cryptoeconomics officer of ConsenSys said that the industry was still far from mass adoption globally.

According to Consensys, during the last bull run, over 30 million users each month were using MetaMask to access DeFi protocols, mint and trade NFTs and participate in DAOs. While promising, that’s a drop in the ocean globally. Asked when crypto will see mainstream adoption, Sokolin said it was all about having enough compelling use cases for crypto, as well as a thriving ecosystem to support it.He also rejected the idea that it will come as a result of better user experience and clearer regulations.

“The catalyst of things is, one: Is there going to be enough stuff to buy on Web3 that I want to own?”

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