By Gadi Glikberg, CEO & Co-Founder of CodeStream
The original promise of crypto was simple yet revolutionary: financial sovereignty, decentralization, and a trustless system where power was redistributed from centralized authorities to individuals.
It was a movement built by cypherpunks, developers, and freedom advocates who saw an opportunity to rewrite the rules of finance and ownership. But, as we fast forward more than a decade since Bitcoin’s inception, it’s clear that much of the industry has strayed far from those ideals.
Instead of a decentralized utopia, we’ve seen the rise of centralized exchanges that wield more influence than traditional banks, institutional investors who prioritize short-term profits over long-term vision, and endless speculative bubbles that dilute crypto’s fundamental purpose. Meanwhile, regulatory pressures and compliance measures have pushed many projects to conform rather than challenge the status quo.
It’s time to reconnect with the grassroots ethos of crypto.
Returning to First Principles
The essence of crypto lies in self-sovereignty. Bitcoin was created as a response to the failures of traditional financial systems during the Great Recession, offering an alternative that doesn’t rely on intermediaries. The Ethereum ecosystem promised a decentralized world computer, where anyone could build trustless applications without asking for permission. These ideas were powerful because they put control back into the hands of individuals.
Instead, we now see more projects optimizing for regulatory acceptance and institutional adoption at the expense of decentralization. Instead of embracing centralization as a necessary evil, we should focus on innovating new solutions that improve usability and scalability.
Building for the Users, Not Just Investors
One of the biggest missteps in recent years has been prioritizing speculative financial products over actual utility. DeFi, NFTs, memecoins, and Web3 have immense potential, but much of the development has been centered around hype cycles rather than sustainable value creation. This has led to an environment where short-term gains are prioritized over long-term infrastructure.
To reclaim crypto’s grassroots spirit, we need to refocus on building products that solve real-world problems. We should be asking: How do we create systems that empower individuals? How do we build open financial tools that are accessible to those who need them most? How do we ensure that dApps are usable, scalable, and resistant to capture?
Strengthening the Developer Community
Crypto was built by developers who believed in open-source collaboration and transparency. Some of the most successful projects, from Bitcoin to Ethereum, were born from passionate communities rather than corporate boardrooms. However, as the industry has matured, many projects have shifted towards closed development cycles and corporate structures that stifle open innovation.
To rekindle crypto’s founding spirit, we must reinvest in developer communities. This means supporting open-source initiatives, funding independent research, and creating educational resources that make blockchain development more accessible. It also means ensuring that governance models are truly decentralized, so that builders and users, not just VCs and early investors, have a voice in shaping the future.
Redefining Success in Crypto
The ultimate success of crypto won’t be measured by market caps or institutional adoption – it will be measured by the number of people who can truly benefit from it. Are we building systems that are resilient, censorship-resistant, and equitable? Are we fostering a community where innovation thrives without gatekeepers?
Make no mistake, this isn’t just about nostalgia—it’s about preserving the core values that made this movement so powerful in the first place. We have an opportunity to realign with the original mission of financial freedom and decentralization, ensuring that crypto remains a tool for good rather than another instrument of control.
At CodeStream, we believe in empowering developers to build the future. The more we can support open collaboration and decentralized innovation, the closer we get to fulfilling the true promise of crypto. It’s time to refocus, reimagine, and reclaim what made this space so special in the first place.
Let’s get back to building.
