Let's be real. We’re all familiar with these “Top 10” lists, promising insights on the hottest new Web3 projects. But only 22% of these initiatives include metrics to assess innovative impacts on transforming the land of emerging markets. In particular, I’m referring to Southeast Asia, a part of the world I’ve come to appreciate and consider home. Are these projects truly uplifting divested community voices and priorities? Or are they just another example of digital colonialism, taking value away without giving anything back?

Accessibility First, Hype Later

To us, the promise of Web3 is in decentralization, democratization of finance, and empowerment of creators. Too many projects primarily serve those that already have access to FIOS and high end smart phones. They flip the burden on users further by requiring them to decipher complicated crypto language.

Consider Qubetics ($TICS) for example, featured in their cross-border payments application and connecting the dots through simplified blockchain integration. Sounds great, right? To the small business owner in rural Cambodia, deploying blockchain can be pretty daunting. Throw in limited internet access and a lack of experience with online learning, and it’s an uphill battle. Is the QubeQode IDE translated to Khmer, or better yet Thai? I can almost guarantee it isn't.

We need to ask ourselves: Are these "hottest picks" solving real problems for real people in emerging markets, or are they just creating new problems disguised as innovation?

Beyond the Code, Cultural Context Matters

It’s about much more than creating an impressive new platform. You have to understand the cultural context. What’s successful in Silicon Valley may be totally off-base or worse, counterproductive in the context of Southeast Asia.

VeChain (VET), for instance, has received accolades for its supply chain efficiency and green energy efforts. That’s fantastic. Are these initiatives making an impact on very real environmental issues that Southeast Asian countries are dealing with right now, such as deforestation or plastic waste? Or are they simply bringing in Western solutions that are, at least in part, ill-suited?

We need to go past the tech and start thinking about who’s getting that data. Are projects engaging with local communities, listening to their needs, and adapting their solutions accordingly? Or are they just forcing their ideas down people’s throats?

Forgotten Voices, Amplified by Blockchain?

Blockchain technology can and should be used to echo and elevate the voices of marginalized communities. But are we actually seeing that happen?

Particularly the stories from the artists, developers and entrepreneurs that Southeast Asia has in abundance. It’s inspiring to see how they are using blockchain to create positive change! I want to listen to their stories, their pain, their journey, their victories, their triumphs. Projects such as Filecoin (FIL) provide an exciting new opportunity to safeguard indigenous knowledge and cultural heritage via a decentralized storage infrastructure. They’ll only be impactful if these communities can affordably access the technology.

  • Are these platforms available in local languages?
  • Are they easy to use on mobile devices with limited bandwidth?
  • Are there high transaction fees that make them unaffordable?

These are the questions that we should be asking — not the tired and inconsistent price predictions and market capitalization of the day.

Financial Inclusion or Digital Divide?

Plenty of Web3 projects tout financial inclusion, especially in areas with large underbanked populations. Sonic (SONIC) is another example of a project focused on decentralizing access to DeFi services. Accessibility is not only about tech. It's about trust, education, and cultural relevance.

Consider this: a farmer in Myanmar who has never used a bank account is suddenly expected to navigate the complexities of DeFi. Is that really empowering, or is it just paving the way for their exploitation?

It is vitally important that we make Web3 projects upholding these promises understandable to all. Let’s not repeat a story where the rich get richer and the poor languish.

A Call to Action: Support Real Impact

So the next time you come across a “Top 10” list of Web3 projects, don’t take it at face value. Ask yourself:

  • Who is really benefiting from this project?
  • Is it accessible and inclusive for users in emerging markets?
  • Is it addressing local needs and priorities?

Champion work that’s really democratizing or disrupting, or revolutionary, or really truly empowering these emerging markets. Champion inclusivity and accessibility in blockchain technology. Let’s use this powerful technology to create a more just and equitable together. Together, we can build an opportunity that works for everyone, instead of just enriching a fortunate few.

Because, quite honestly, if Web3 is not empowering our most vulnerable, what are we even doing here? That’s the potential, but it’s going to take all of us to make it happen. Don’t let the hoopla overshadow the real-world effects.