A strategy of non-acknowledgment might just be the future of crypto.
In some cases, it’s unclear whether companies have abandoned their crypto plans or would simply prefer not to highlight them. Even expo booths for companies that are widely known for their work in crypto seemed hesitant to use any of the keywords closely associated with it. A display for—sharing a small booth with some other developers in the space—proudly touted the “metaverse” game and occasionally mentioned being a “Web3” platform.
It’s a dynamic I started to internally refer to as crypto-obfuscation. It’s not that any of these companies would refuse to acknowledge crypto, per se. When asked, many were all too happy to discuss their vision of a blockchain-based future. But they seemed to operate as though calling attention to it unprovoked was, at best, a little uncouth. At worst? An active deterrent., where the tech is exciting but not ready for normies yet.
This year, I felt like my skepticism had become the norm, or at least mainstream enough to express openly. Out of nearly everyone I spoke to, the few with any opinions about crypto seemed eager to share their doubts. Most simply hadn’t thought about the technology. And besides, generative AI was much more interesting to discuss.
I doubt any of this means crypto is dead or dying. The tech has been around in some form or another for over a decade, and public interest in it comes in waves. However, its subdued presence at SXSW suggests its advocates had learned a powerful lesson from the previous year: The best way to evangelize crypto outside the tech bubble is to hope you can convince people to pay no attention to the blockchain behind the curtain.
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