Interview

Web3 to become as simple as the Internet we know today

Tuesday 11 October 2022 10:01 CET | Editor: Alin Popa | Interview

Taras Dovgal, Co-Founder of Roketo, a real-time crypto streaming platform, shares advice on how crypto companies can monetise on Web 3.0 and grow a sustainable business

Web 3.0 sounds exciting for businesses, with many companies and new ideas attracting funding. If you were to compare web 2.0 possibilities with this new paradigm shift, where does the mainstream of profits spring from?

Blockchains, and the crypto sphere as a whole, are built around a shared public ledger, which means that the financial aspect is integral to web 3.0 projects. That's why DeFi, GameFi, and SocialFi are emerging, in which finance underpins the product inextricably. In this way, you can fund your product directly through the way it works, rather than just from one source. There is no doubt that DeFi is currently the most mainstream field. Another field that we feel really excited about is GameFi, and we hope to see more and more projects of this kind in the future.

Still, not all new crypto companies know how to monetise on the promises of web 3.0 or don’t deliver a sustainable business plan. What causes this lack of preparation?

The problem with blockchain, of course, is that, despite its fundamental simplicity, users have to put in too much effort to use it. Blockchain users should know that they need to pay a network fee, which should be paid in network-native tokens, not the tokens they prefer. The whole thing can appear quite nerdy and geeky at first glance.

Today's technologies have endured this phase before being simplified. Internet access is a good example. People used to have to buy cards and connect through dial-up with a per-minute charge. We are now in an era where anyone can pick up their smartphone or laptop and go online instantly. There is a minimal effort on the user's part. It will only take you a few minutes to activate your Internet subscription, and many invisible processes are working behind the scenes to grant you access.

Blockchain, of course, is heading there as well. Blockchain technologies are coming up with a lot of cool new features that will simplify the user experience and potentially attract a lot of new users.

How does Roketo enable crypto businesses to deliver on their promise? Could you please elaborate on your target market and the products you offer?

In short, Roketo's goal is to provide the easiest tools to simplify all user-related processes. Our focus is to work with crypto businesses or enterprises making the transition from web 2.0 to web 3.0. Roketo creates tools that give value and motivation to use the products. In this sense, Roketo is a B2B product that provides businesses with tools to facilitate their development and onboarding into a great web 3.0 world.

You are in the beginning; however, you have hundreds of tested use cases of Roketo payment products. What conclusions can you draw so far?

There is still much to be done in this field. Roketo is at the beginning of its journey as well. With streaming crypto payments as its core concept, the project has grown into a business that creates a variety of tools that allow companies to exist, develop, and grow. This leads to us interacting with these companies a lot. Our current focus is to identify the problems and demands. That's why Roketo has many prototyped cases, ranging from payroll streaming to token distribution, and covering various projects from GameFi to SocialFi.

How do you differentiate from your main competitors?

The NEAR ecosystem is a good starting point for us since it has a high throughput and low fees. There is a lot of expertise and vision here, and I am delighted to see how we are progressing. We plan to expand to other blockchains later, but for now, we're aiming to contribute as much as we can to NEAR. We do things that are interesting and meaningful to web 3.0 companies, that will help them grow, develop, and launch faster. It's extremely important at this point in a bear market, and it will be critical once the market turns bullish.  We have time to test more, launch more, and create a clear product set that every company can use in a few clicks to launch web 3.0 products.

What is next for Roketo?

We see the development of the entire crypto sphere as something creative. The next bull market will certainly see a rise in cross-chain and multichain projects. We view Roketo as a multichain platform, where businesses can easily select their preferred network. Generally, the chains have similar functions, but the custom functionality can vary. Certain chains might work well with GameFi, while others might be suited for SocialFi. In terms of creativity and diversity, multichain support should help crypto companies to achieve their goals.

About Taras Dovgal

A serial entrepreneur, Taras Dovgal is the co-founder of Kikimora Labs, NearPay, and Roketo, and a General Partner at TNX Ventures. His experience in systems development spans over 10 years. Taras previously co-founded and served as CTO for WALL.ONE, a digital privacy and data security company.

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Keywords: blockchain, Web 3.0, B2B payments, cryptocurrency, digital wallet
Categories: DeFi & Crypto & Web3
Companies: Roketo
Countries: World
This article is part of category

DeFi & Crypto & Web3

Roketo

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