The past several months of market disruption have left a sour taste in investors’ mouths when it comes to once-hot fintech companies and services. While cryptocurrency, digital tokens, and blockchain-enabled technologies dominated the conversation this time last year, looming regulation and rampant inflation have pushed fintech investors into a semi-hibernation.
However, not everyone is giving up on the promise of Web3 in all its decentralized glory. In fact, according to TechStars Chief Executive Officer Maëlle Gavet, fintech innovations backed by blockchain are the way of the future, now more than ever.
As Gavet explained in an interview at this year’s Collision conference, this summer’s downturn in crypto “does not change the intrinsic value of blockchain technology and the decentralized approach of Web3.” Moreover, while the speculative nature of crypto makes any long-term prediction a difficult prospect, we are still too early in the lifespan of Web3 to count fintechs out.
“If you think of ‘Web1’ and the up and down to ‘Web2,’ there's always a bump in the road when innovation comes around,” said Gavet. “I remain very bullish on blockchain and Web3.”