The ETH Denver 2025 conference brought together some of the brightest minds in Web3, and one of the standout panels featured Pat Yiu, Carter Razink, and Lin Dai from the Spree team. The session, titled "Can Decentralized Commerce Make Web3 Great Again?" explored how decentralized commerce can onboard the next billion users into crypto. Here’s a recap of the key discussions and insights from the panel.
The Panelists: Building the Future of Web3 Commerce
- Pat Yiu (Co-founder of Mega Incubator): Focused on payment infrastructure, consumer applications, and government relations on the Ethereum network.
- Carter Razink (Spree Co-founder): A veteran in the crypto space, Carter has been building loyalty infrastructure and innovative payment solutions for years.
- Lin Dai (CEO of Superlogic): Lin’s team has built blockchain infrastructure for major enterprises like American Express and Warner Music Group.
Together, they shared their vision for decentralized commerce and how Spree is leading the charge.
Stablecoins: The Unsung Hero of Crypto Payments
One of the central themes of the discussion was the role of stablecoins in driving real-world crypto adoption.
- Why Stablecoins Matter:
Carter Razink emphasized that stablecoins are the "room-temperature superconductor for commerce." Unlike volatile cryptocurrencies, stablecoins provide a reliable medium of exchange for merchants and consumers.
- Key Insight: Merchants are unlikely to accept speculative assets like Dogecoin or Bonk due to their volatility. Stablecoins, pegged to the dollar, offer a familiar and stable alternative.
- Seamless Conversion:
Lin Dai highlighted Spree’s innovative approach: any cryptocurrency can be instantly swapped into stablecoins at the point of sale. This allows consumers to spend their crypto while merchants receive payments in USD, eliminating volatility risks.
Onboarding the Next Billion Users
The panelists agreed that ease of use and real-world utility are critical for mass adoption.
- Travel as a Use Case:
Lin Dai shared how Bookit, Spree’s decentralized commerce platform, is leveraging the travel industry to onboard users.
- Why Travel? Travel is a universal need, and Bookit allows users to book flights, hotels, and experiences using any cryptocurrency while earning 10-30% rewards.
- Example: Bookit aggregates over 2 million merchants in travel, entertainment, and retail, making it a one-stop shop for crypto-powered commerce.
- Loyalty Programs as Crypto for "Normies":
Pat Yiu pointed out that loyalty points are essentially crypto for everyday users. By integrating crypto rewards into existing loyalty programs, Spree is bridging the gap between traditional finance and Web3.
Commerce DeFi: The Future of Payments
Carter Razink introduced the concept of Commerce DeFi, which combines decentralized finance (DeFi) with real-world commerce.
- What is Commerce DeFi?
Commerce DeFi leverages blockchain technology to create new financial products for merchants and consumers. Examples include:
- On-Chain Factoring: Using liquidity pools to reduce settlement times for merchants.
- Cross-Border Payments: Enabling seamless, low-cost transactions across borders.
- The North Star:
Carter envisions a future where merchants can earn yield on their stablecoin reserves and consumers can use their rewards points more flexibly.
Regulation and Consumer Safety
The panelists acknowledged that regulation and consumer safety are essential for mainstream adoption.
- Regulatory Clarity:
Lin Dai noted that the November 2023 regulatory shift in the U.S. opened doors for partnerships with major enterprises. For example, Bookit’s collaboration with a leading travel company wouldn’t have been possible without clearer regulations. - Building Trust:
Pat Yiu emphasized the importance of consumer safety, especially in emerging markets. Stablecoins, backed by familiar currencies like the USD, provide a safer entry point for new users.
The Role of Memecoins and Speculative Tokens
While memecoins have driven awareness and attention in the crypto space, the panelists agreed that real-world utility is key to sustainable growth.
- Memecoins Have Their Place:
Lin Dai acknowledged that memecoins are fun and have a dedicated community, but they shouldn’t be the focus for onboarding mainstream users. - Stablecoins for Real-World Use:
Carter Razink highlighted that stablecoins offer a non-extractive way to grow the crypto ecosystem by bringing new dollars into the space rather than relying on speculative trading.
What’s Next for Decentralized Commerce?
The panelists shared their vision for the future and actionable steps for the community:
- Check Out Bookit:
Lin Dai encouraged everyone to explore Bookit.com, Spree’s decentralized commerce platform. Users can book travel, earn rewards, and spend any cryptocurrency—all while enjoying a seamless experience. - Focus on User Experience:
Pat Yiu urged builders to abstract away the complexities of blockchain technology. The end user doesn’t care about the tech—they care about simplicity and ease of use. - Collaborate and Innovate:
Carter Razink invited developers and projects to partner with Spree to build the future of commerce.
Watch the Full Panel
Want to dive deeper into the discussion? You can watch the full panel session here:
👉 Watch the Full Panel on YouTube
Final Thoughts
The panel concluded on an optimistic note: Decentralized commerce has the potential to make Web3 great again by bridging the gap between crypto and real-world use cases. With platforms like Bookit and innovative concepts like Commerce DeFi, the future of crypto-powered commerce looks brighter than ever.
Ready to experience the future of decentralized commerce? Visit our partner, Bookit.com and start earning rewards today!
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