Web3 promises financial freedom but faces challenges in ensuring true inclusion for all users, particularly those with limited resources.
Summary
- Web3 provides open access but true financial inclusion depends on user ability to navigate the system without facing losses.
- Users have an "error budget" where fees can be trivial for large transfers but significant for smaller ones.
- Chainalysis reports that Sub-Saharan Africa saw $205.7 billion in on-chain value from July 2024 to June 2025, with Nigeria contributing $92.1 billion.
Web3 promotes itself as an inclusive financial system available to anyone with internet access, but mere access does not ensure safety or practicality for users.
Users still risk losses from mistakes like choosing the wrong network or sending assets to unsupported destinations. Such errors, while often dismissed as user faults, indicate deeper issues with the product.
Access vs. Inclusion
While permissionless access asks whether someone can enter the system, financial inclusion tackles whether users can understand their actions and avoid costly mistakes. This is increasingly important as cryptocurrencies extend beyond traders to individuals in regions with economic instability.
For example, Sub-Saharan Africa experienced a 51.7% increase in on-chain value, totaling $205.7 billion during the specified period, largely driven by factors like inflation and currency devaluation. Nigeria's contribution of $92.1 billion highlights the practical necessity of crypto in these markets.
In our upcoming 2025 Geography of Cryptocurrency Report, we will detail Sub-Saharan Africa's crypto growth, which is now the world's third-fastest-growing region.
Learn how Nigeria and South Africa are at the forefront of institutional adoption… pic.twitter.com/UVlCfZwpzc
— Chainalysis (@chainalysis) September 10, 2025
For many, cryptocurrencies are vital for saving, payments, and international transfers. While blockchain can reduce costs by removing intermediaries, it also complicates the user experience through various technical hurdles. This complexity shifts the burden from financial institutions to the individual.
The Concept of an Error Budget
Each user has an "error budget"—the amount they can afford to lose while learning to navigate the system. For instance, a $25 fee might be negligible for a $10,000 transaction but substantial for a $100 one. Blockchain protocols do not account for users' financial situations, yet they can analyze transaction data to identify potential issues.
However, many platforms treat all users as if they have the same financial resources and experience, which is not the case. This discrepancy disproportionately impacts those making smaller transfers, as fixed costs can take a larger share of their funds.
A financial system that requires costly lessons before it can be safely used may be open but lacks true inclusivity.
Self-Custody Shouldn't Mean Isolation
This discussion does not oppose self-custody, which is crucial for users to maintain control. The crypto industry often presents a false choice between centralized platforms and total user independence. Self-custody should not come with an overwhelming technical burden.
Users should have access to tools that can guide them through transactions, highlighting risks and offering safer alternatives without taking over control of their funds. ChangeNOW is evolving to create a comprehensive platform that simplifies these complex interactions.
Learning from User Errors
While users must take responsibility for their decisions, the industry must also recognize when recurring mistakes point to product flaws. Education is vital, but it cannot excuse predictable failures. Sending funds should not require extensive knowledge of blockchain technology.
If users consistently make the same mistakes, it indicates that the product is not user-friendly. Financial freedom should not come at the cost of steep learning curves or potential losses.
Web3 has created a global financial structure independent of traditional banking, but the next step is making it user-friendly without requiring deep expertise. True inclusivity will be achieved when individuals can safely use these systems without incurring costly errors as part of their learning process.
