Ahmed sits down with Fredrik Haga, co-founder of Dune Analytics to discuss crypto and blockchain adoption rates and exploring why these adoption rates are still so low today!
Fredrik is focusing on making data on the blockchain more accessible to project founders, investors, and individuals by analysing and aggregating public blockchain data. The two talk about the right types of metrics needed to measure the right levels of adoptions and how to measure the success of a product and its market fit.
Extraordinary data they showcased in Berlin shows that there is 1 Ethereum address for every 110 people. Only 1 in every 110 people! But is this the right metric to measure for success?
Fredrik argues that they’re creating a platform not just to state what the right metrics are but to allow their users to have a say in what success looks like and what are the right metrics to measure.
Of course, retention rates are top in priority and Fredrik explains a certain case they’ve been seeing within the context of the MakerDAO project. He argues that although the macro data for MakerDAO are positive but when you dig into the data, there are many surprises in store. Surprise surprise, retention rates in crypto-related products such as MakerDAO are still super low!
Fredrik also goes into his enterprise experience, working for one of the largest Norwegian media companies which looked to implement blockchain in their operations. Going into the infrastructure of trust, particularly in a jurisdiction like Norway where people trust their government, the pair really explore if blockchain, privacy by design and all the things this industry stands for matters for these types of institutions and countries.
Before the pair sign off, Fredrik goes into his takeaways from Berlin Blockchain Week. He sees usability and real use cases are coming to front and center instead of fancy tech stuff taking the limelight.
All of the above and more will be on this week’s episode of Encrypted!
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