The current state of crypto in India is comparable to the internet’s “America Online” (AOL) era in the late 1990s, as stated by Polygon co-founder Sandeep Nailwal. Nailwal emphasized the need for development in various areas to enhance user experience, such as seamless fiat on- and off-ramps, custody solutions with key recovery, and hardware wallets integrated into mobile devices. He likened the current state of crypto to the dial-up era of the internet, where connectivity was challenging, and technical expertise was required. Nailwal projected that it may take another 10 to 15 years for crypto to reach its full potential. Despite the advancements, the focus of crypto remains primarily on financial use cases like market speculation. However, Nailwal anticipates that as financial use cases mature and gain adoption, crypto will expand to encompass alternative use cases like decentralized social media and gaming. The slow adoption of cryptocurrencies is evident, with only 4% of individuals globally owning Bitcoin, according to a report from River. This statistic indicates that mass adoption of crypto is still a distant prospect, placing the industry in its early adopter phase. As the industry evolves, the potential for widespread adoption and diverse applications becomes more apparent.