►
From YouTube: Living on Ethereum by Ale Machado | Devcon Bogotá
Description
Visit the https://archive.devcon.org/ to gain access to the entire library of Devcon talks with the ease of filtering, playlists, personalized suggestions, decentralized access on Swarm, IPFS and more.
https://archive.devcon.org/archive/watch/6/living-on-ethereum/
To maximize the real-world utility of the Ethereum network, ether and ERC20 stablecoins must be increasingly used as money. This means being able to pay for goods and services without going through exchanges or banks. This talk will give a short history of the best efforts so far at onboarding merchants, dive into the anthropological reasons why this is a hard problem, and share our learnings on some recent successes on growing the number of crypto consumer purchases.
Speaker(s): Ale Machado
Skill level: Beginner
Track: Opportunity & Global Impact
Keywords: adoption,merchants,bankless
Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum
Learn more about devcon: https://www.devcon.org/
Learn more about ethereum: https://ethereum.org/
Devcon is the Ethereum conference for developers, researchers, thinkers, and makers.
Devcon 6 was held in Bogotá, Colombia on Oct 11 - 14, 2022.
Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/
A
A
A
We
like
hack
in
the
basement
like
proud
to
be
here
in
this
conference,
and
you
know
among
friends
again
like
it's.
It's.
It
feels
very
nice
to
be
here,
surrounded
by
people.
We
love
people
that
are
vibing
with
us,
there's
another
set
of
people
that
we
discuss
much
less,
which
is
people
that
are
living
on
ethereum,
right
people
who
actually
use
ethereum
as
a
tool
for
their
everyday
life
and,
of
course,
there's
an
overlap
between
the
two
right,
like
some
people
here,
probably
get
paid
in
crypto
or
in
ethereum
or
ethereum
stable
coins.
A
Some
people
might
spend
some
of
that
every
month
and
yeah.
That's
that's
one
of
the
things
that
I
wanted
to
like
bring
your
attention
to
that.
The
fact
that
there's
two
groups
there's
an
intersection
middle
but
in
general
I
think
we
or
myself,
given
that
I've
like
dedicated
my
my
time
to
explore
this
space
because
I
care
about
financial
inclusion
and
I
care
about
the
like
good
potential
for
this
technology.
A
Even
myself,
I
haven't
I
feel,
like
I,
haven't
dedicated
enough
time
to
talk
about
the
other
group,
so
I'm
going
to
talk
a
little
bit
about
what
I've
learned,
but
first,
that's
like
recognizing
that
like
which,
which
group
would
I
be
a
part
of
like
do.
I
live
in
ethereum
or
not.
This
was
in
2018,
two
good
friends
and
and
I
hacked
on
Ethan
Buenos.
Aires
I
was
my
first
ethereum
event
ever
and
again
like
the
vibe
was
great.
A
This
is
where
I
got
to
meet
the
community
and
we
hacked
on
a
project
that
was
like
non-financial,
nothing
related
to
to
using
ethereum
as
money
or
like
stable
coins.
Weren't
even
a
thing
back
then,
and
it
was,
it
was
great
Community.
It
was.
It
was
a
good
experience
and
then
coming
from
Venezuela
like
experienced
High
inflation.
So
this
is
like
gives
me
another
reason
to
Vibe
with
the
community.
A
You
know
like
the
values
of
having
better
money,
giving
people
access
to
better
money
and
all
that,
but
the
fact
is:
I
went
to
school
in
the
United
States
and
I.
Have
a
bank
account
in
the
U.S
and
I'm
part
of
that,
like
group
of
financially
privileged
people,
that
many
many
of
us
also
are
right.
I
care
about.
You
know:
FDIC
insurance,
I
care
about
like
having
stable
Savings
in
dollars
and
I
know
that
we
are
Building
Services.
A
A
I.
Think
yeah,
like
I've,
started
to
to
talk
more
to
to
like
customers
to
be
refilled
in
particular
here
and
I.
Can't
say
that
I've
learned
that
much
yet
from
them,
but
I
have
it
like
sparked.
My
curiosity
and
and
I
think
I
have
more
questions
than
answering
this
talk,
but
I
hope
that
you
can
also
get
questions
from
from
my
expirations.
So
far,
so
I've
got
two
archetypes
here
that
I
want
to
discuss
right.
So
the
first
one
is
George.
He
lives
in
the
USA.
A
He
worked
in
oil
and
gas
and
what
he
wants
is
to
make
money
fast,
and
there
may
be
some
people
here
that
also
conceive
ethereum
as
a
good
investment
tool
and
as
a
as
a
way
to
invest
smartly
in
protocols
that
will
change
the
world
and
you
know,
but
that
you'll
get
rewarded
for
it.
Nothing
wrong
with
that
George
in
particular.
Remember
he
doesn't
care
much
about
ethereum.
A
But
he
saw
this
as
a
way
to
make
money
fast,
and
you
know
it's
evolved
into
this
as
like
a
side
job
right.
Then
in
2021
he
discovered
uni
Swap
and
suddenly
he
became
an
ethereum
user,
but
not
necessarily
an
ethereum
Community
member
right,
because
I
remember
this
guy
doesn't
really
care
much
about
ethereum.
He
cares
about
making
money
fast
and
now
in
2022,
of
course,
he's
using
binance,
because
you
know
all
of
these
options
to
earn
money.
You
know
the
Vault.
A
A
Let's
go
to
another
case.
Sylvia
is
a
copywriter
from
Argentina
and
he
wants.
She
wants
access
to
a
US
dollar
account
because
she
doesn't
trust
her
National
currency.
Much
you've
heard
this
narrative
many
many
times.
I'm
sure
you've
probably
met
people
from
Argentina
from
Cuba
from
Venezuela
from
other
places
where
the
situation
is
extremely
bad
and
I
I
think
we
would
all
agree
that
the
Community
Values
are
that
there's
nothing
wrong
with
wanting
to
have
more
financial
stability
in
your
life.
A
A
You
may
have
your
opinions
about
it,
and
you
know
we
as
technologists
may
have
some
concerns
or
some
fears
about
it
and
certainly
the
same
with
Tron,
but
guess
what
it's
a
tool.
She
doesn't
really
care
much
about
the
technology.
She
doesn't
care
about
the
community.
She
cares
about
not
spending
15
on
every
transaction
that
she
makes.
So,
of
course
she
switched
there
and
then
2021.
Maybe
the
few
went
up
a
little
bit,
but
you
know
she's
still
happy
with
Tron
and
then
again
in
2022.
A
A
She
can
just
go
on
a
peer-to-peer
Marketplace
about
finance
and
she
can
find
an
offer
really
fast
and
it's
also
like
it's
very
cheap.
The
the
fees
for
this
services
are
cheap
and
to
receive
or
send
UCT
within
binance
users.
It's
free.
So
again,
convenience
wins
in
this
case.
So
after
that
in
2022,
what
might
happen?
Maybe
she
will
convert
from
tether
to
busd.
It's
because
you
know
maybe
binance
will
provide
further
incentives
to
USB
USC.
A
A
We
would
like
her
to
be
on,
like
part
of
better
align
and
more
credibly
neutral
systems
and
the
systems
that
have
her
well-being
more
in
the
core
values,
because
what
can
happen
if
the
Tron
Network
goes
down
and
Sylvia
loses
her
money
or
you
know,
there's
there's
many
risks
with
other,
like
with
using
other
tools
that
have
not
been
built
with.
You
know
the
same
care,
perhaps
that
that
ethereum
or
the
some
of
the
tools
of
ethereum
at
least
have
been
built.
A
So
we
would
like
to
kind
of
push
these
tools
to
her,
but
we
haven't
done
a
great
job
at
marketing
them.
We
haven't
done
a
great
job
at
making
them
accessible
in
the
markets
where
they
are
needed
most
right,
so
she'll
probably
gravitate
towards
Finance
right.
So
I
think
this
is
just
again
like
it
strikes.
A
question
that
I've
had
for
many
years
and
I
think
I
still
haven't
resolved
it
yet
so
who
is
ethereum
for
and
who
like?
Whom
should
we
prioritize
and
and
how?
A
How
should
we
measure
our
success
is
tvl,
for
example,
a
good
way
to
measure
ethereum
success
or
is
adoption
in
peer-to-peer
markets
a
better
way
to
do
that,
so
maybe
I
want
to
open
it
up.
I
know
like
this.
This
talk
is
short
on
purpose,
because
I
actually
want
to
hear
more
from
you
and
your
experience
and
and
maybe
complement
the
two
examples
that
we
just
showed
here.
A
If
anyone
here
gets
paid
in
crypto
and
is
comfortable
like
sharing
an
experience
and
I
can
I'm
happy
to
go
first,
I've
been
paid
in
uscc
sometimes,
and
my
experience
has
been
that,
because
I
studied
in
the
US
I
can
cash
out
usdc
one
to
one
for
US
Dollars
in
a
bank
account,
which
is
what
I
ultimately
want
because
I
I
like
that
stability
right,
even
though
you
know
there's
huge
inflation,
whatever
it's
it's.
It's
still
a
means
for
me
to
preserve
my
my
savings.
A
So
maybe
that's
something
that
is
again
very
privileged
because
I
have
access
to
to
things
like
coinbase
and
so
on,
but
maybe
someone
like
Sylvia
that
actually
prefers
usdt,
because
it's
more
liquid
in
her
local
market
has
a
different
experience.
So
if
anyone
here
has
an
experience
of
being
paid
in
crypto
I'd
like
to
hear
from
you
what
what
do
you
use
like?
What
or
or
what
product
have
you
been
surprised
by
The
Experience?
Be
it
good
or
bad
and
yeah?
What
what
can
you
share
from
that?
A
B
A
B
So
it
does
work
very
smoothly,
but
indeed
because
it's
a
non-custodial
wallet,
you
have
to
actually
send
anything.
Well,
you
you
do
a
an
ethereum
transaction
when
you
top
up
the
card,
and
so
there
are
gas
costs
which,
for
myself,
is
fine,
but
for
a
you
know,
100
million
user
base.
You
know
people
use
a
base
that
might
not
quite
work,
and
so
your
point
in
your
presentation,
I
totally
understand
how
you
know
we
here
in
this
crowd
are
very
idealistic,
but
you
know
normal
people
or
Ordinary
People.
A
And
have
you
used
other
chains
other
than
ethereum
or
have
you
considered
using
other
other
stuff
or
or
maybe
even
you
know,
you're
using
a
custodial
Service?
So
it's
another
Ledger
that
they
have
as
well
so
you're
you're
using
more
than
just
ethereum,
and
that's
that's
fine,
but
I
I
think
it's
it's
worth
also
highlighting
that
ethereum
doesn't
stand
on
its
own,
or
at
least
it
doesn't.
We
would
like
it
to
be
like
a
full
Suite
service,
but
it's
not
yet.
B
Right,
yeah,
it's
going
to
take
a
lot
more
work
from
people
in
this
room
to
realize
that
we
should
be
building
for
the
general
public
and
not
for
ourselves
really
in
the
long
run.
Otherwise
you
know
companies
like
Tron
and
binance
they're
gonna
eat
our
lunch
right
and
we're
going
to
be
sitting
here
whilst
the
whole,
like
the
whole
world,
moves
Us
by
yeah.
B
A
A
D
B
D
And
also
another
in
tokens.
So
let's
say
like
this
in
the
the
part
that
I
received
from
usdc
I
just
save
in
my
custodial
wallet
and
the
other
like
in
my
non-custodial
wallet,
because
at
the
end
of
the
day,
the
one
that
is
in
the
custodial
wallet,
I
use
for
like
day
by
day
cash
and
pay
my
stuff
here.
Would
you
mind
sharing
what
what
service
that
is?
D
Yes,
here
in
Latin
America
is
like
a
wallet
which
is
named
Bo,
which
make
here
in
Colombia
the
the
the
off
ramp
of
peso
Colombiano,
so
I
use
that,
but
yes
like.
That
is
one
of
the
biggest
concerns
regarding
how
we
make
the
the
overrun
of
my
money,
because
there
is
not
so
easy
channels
for
withdraw
my
money
and,
let's,
let's
be
clear
in
Latin
America
how
everything
moves
by
cash.
D
A
So
if
you
had
one
request
for
people,
building
systems
like
these
or
if
you
were
yourself
like
I,
had
the
resources
and
and
and
wanted
to
build
something
like
that
like
what?
What
is
the
biggest
problem
that
you
face
yourself
that
like
when,
when
you're
trying
to
off
ramp
the
crypto
that
you've
been
paid,
you
know
you
use
that
crypto
to
cover
expenses.
Exactly
what
would
you
say.
D
I
think
one
of
the
biggest
concern
is
easy
access
to
this
alternative
that
are
already
linked
with
traditional
players,
because
at
the
end
the
of
ROM
should
be
or
they
have,
they
must
be
linked
to
traditional
Financial
system.
So
I
think
that
is
like
the
big
concerns
for
the
future
is
like
how,
at
the
end,
the
the
next
wallets
the
net
solutions
that
help
us.
This
are
already
linked
to
the
traditional
system
to
a
traditional
Financial
system,
because
these
are
the
ones
that
will
give
us
the
chance
for
for
a
spread.
A
Yeah
thanks
I
think
we've
dreamed
for
a
long
time
of
it's
like
adoption,
like
merchants
and
like
the
circular
economy
and
that
beat
refill
we're
trying
to
make
that
happen.
By
listing
private
businesses
on
our
site,
where
you
can
like
buy
Amazon
carts,
you
can
buy
Uber,
you
can,
you
know,
pay
up
even
your
credit
card
in
the
US.
Now
it's
a
new
service
that
we
have
and
and
then
you
can
pay
it
with
crypto.
A
E
You
well
I
wanted
just
to
cover
our
experiences
with
bitso,
because
I'm
from
Mexico
we
got
very
lucky.
We
got
a
universal
basic
income
through
proof
of
humanity,
so
to
cash
it
out
for
my
mother-in-law.
We
used
bitso,
so
we
had
to
transfer.
We
had
to
swap
the
Ubi
token
in
a
stable
coin.
Then
we
send
it
to
Bitter
and.
B
E
E
Yeah
I
think
that
the
fee
was
bearable
like
I,
don't
remember
it
being
anything
overwhelming.
The
biggest
fee
was
transferring
swapping
the
you
and
the
universal
basic
income
token
in
a
stable
coin,
because
it's
on
mainnet,
but
we
did
it
through
cow
Swap
and
they
have
some
gasless
swap
so
well.
There
are
perks,
you
know,
but.
D
C
A
C
C
There's
people
that
want
to
invest
and
there's
people
the
one
that
just
use
right
yeah
and
that's
one
of
the
things
that
I
love
you
you
talk
about
because
there's
a
huge
destination,
at
least
in
South
America,
and
how
can
we
do
what
you're
saying
I'm,
also
American,
so
I
can
have
the
prayer
of
be
able
to
just
do
Exchange
in
the
US,
but
in
South
America
is
so
difficult
in
I.
Don't
know
why,
in
this
at
least
in
this
I
was
hoping
to
find
the
answer
here.
A
Yeah
yeah
and
the
way
I
was
doing
it
before
was
just
like
trying
to
identify
people
who
really
need
it,
like
Venezuelans,
argentinians,
regular
people,
but
that
I
think
is
a
lot
harder
than
finding
people
who
are
already
using
it,
but
not
for
the
reasons
you
think
or
and
they're
not
vibing
with
us
again
like
they're,
not
part
of
this,
but
they're
still
using
it.
So
like
try
to
get
the
jobs
to
be
done
from
from
that
perspective,
and.