The current state of Crypto is equivalent to the “US Online” (AOL) era of the Internet in the late 1990s, when the user experience had crushed, technical, limited limited issues, and moving at the speed of dial -ups, according to multilateral founder Sandip Nelwal.
In an interview to the Quintel Graph, Nilwal identified several key areas of development development development to improve the user’s experience, including smooth fits on and off -ramp, detention solutions, including key recovery, and hardware wallets made in mobile devices.
“We’re in the internet dial-up era, where connecting the Internet was also a traumatic task, as you had to be a mini engineer to connect the Internet-we are still in the crypto.” Sandeeeeep Nelwal
The founder of Polygon added, “We are probably still in 1998, and it will take at least 10 to 15 years to see Crypto in all our glory.”
While currently considered revolutionary, there is a high barrier to limited functionality and admission in the AOL days of the Internet. Source: PC magazine
It took time between 30-40 years to acquire the Internet and began with limited use issues. In the late 1990s, the Internet’s AOL era was primarily focused on email and basic web browsing, but today, the Internet consists of the entire economy.
Nilwal said that the current state of crypto is the same, which includes financial use issues, especially the market speculation, which is currently the main focus of the crypto.
However, once financial use matters have been fully developed and after sufficient adoption, alternative use of the adoption of crypto will spread to social media, gaming and other niche.
Related: Security concerns slow down crypto payment worldwide. Survey
Living in Crypto today is coming to the party soon
Nilwal pointed out that even base use case for crypto currencies, which is financial, has not been fully prepared.
According to a February 2025 report by the Bitcoin (BTC) Financial Services Company River, only 4 % of the world owns BTC – which is the actual cryptocurrency with the market’s largest hat and has the most appealing in the mainstream.
Bitcoin’s path to adoption. Source: Stream
The report states that the BTC has achieved only 3 % of its total adoption route when companies, total identified market, and appropriate portfolio are considered.
This small number of BTC holders indicates that the adoption of crypto large -scale is still at a distance of years, and indicates that the entire industry is still in the early stage of development.
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