Issue 79

Misconceptions Holding Web3 Back

Featuring Akhila Raju, Ex-Product Lead - Tweed

"Most people think Web3 is just about trading crypto. But here's why that’s the least interesting part..."

In this edition of Coffee with Calyptus, we sit down with Akhila Raju, an engineer-turned-entrepreneur with deep expertise in Web3. From her early work on Ethereum 2.0 at ConsenSys to product leadership roles at Dune Analytics and Coinbase, Akhila shares her journey and vision for the future of decentralized systems.

You've had a wide range of roles—from engineering to product management to being a founder. How did each of these roles lead you to focus on Web3?

My journey into blockchain began in 2015 during a Computer Science Security class at UC Berkeley, where I studied blockchain infrastructure and security. This class sparked my interest in Web3 and led me to my first role in Web3 in 2018 as a Research Engineer on ConsenSys’s PegaSys team. At ConsenSys, I was the Founding Engineer for Teku, the Java Ethereum 2.0 client, where I helped design and implement decentralized infrastructure to address Ethereum blockchain scalability challenges.

While I loved the research focus at PegaSys, I wanted to work closer on user-facing solutions, which led me to join Coinbase. At Coinbase, I worked on Coinbase Custody and Prime, where I developed institutional-grade platforms and built the Coinbase Prime APIs. This experience solidified my understanding of the challenges and opportunities in institutional blockchain adoption.

Despite my passion for engineering, I realized I wanted to influence broader product decisions, which led me to transition into product management and explore entrepreneurship. Having worked on Ethereum 2.0 and institutional platforms, I became curious about creating Web3 solutions that resonate with everyday users. This curiosity guided me to Dune Analytics, where I focused on empowering and educating Web3 hobbyists through blockchain data, and to Tweed, where I worked on transforming user experiences and bridging Web2 platforms into Web3.

Web3 can be a bit polarizing, with lots of excitement and skepticism. What do you think most people get wrong about Web3, and where do you see its real potential?

Most people think Web3 is just about trading crypto, which I find to be the least interesting aspect of it. The real potential of Web3 lies in its ability to rethink and redesign traditional systems using blockchain as the foundation. It offers a framework for openness and transparency that can revolutionize industries like real estate, finance, government, supply chain, and healthcare. By removing intermediaries, improving accountability, and enabling decentralized trust, Web3 can create fairer, more efficient systems that empower individuals and communities.

In real estate, blockchain can reduce fraud and encourage fairer pricing through transparency. In government, blockchain-based voting can increase public trust and reduce corruption. In supply chains, you can ensure traceability and ethical sourcing, and in healthcare, individuals can own their medical records and improve privacy and portability. The real potential of Web3 lies in how it enables us to redesign these systems to be more inclusive, efficient, and equitable for everyone.

 
You’ve led big product launches like Dune Teams and Paid Plans. What were some of the toughest challenges, and how did you approach them?

Dune’s user base ranges from individual hobbyists to large organizations, and introducing collaborative features like Teams and Paid Plans meant addressing very different needs. One of the biggest challenges was ensuring we didn’t alienate existing users while creating value for organizations willing to pay for premium features. We tackled this by conducting extensive user research with both our free users and prospective paying customers. This allowed us to prioritize features that would deliver immediate value to both groups, such as seamless team collaboration tools for organizations and robust data-sharing capabilities that appealed to hobbyists.

Dune has a strong ethos of open access to on-chain data, so introducing paid tiers without disrupting the community’s trust was tricky. The challenge was to create payment plans that added clear value for power users while keeping core functionality free for the broader community. We designed the tiers based on real usage patterns, focusing on offering scalability, advanced features, and support for teams in the paid plans, while maintaining the essence of free access for the community. Transparent communication about what the plans included—and why—was key to gaining user buy-in.

You’ve worked in tech hubs like Silicon Valley, Tel Aviv, and Paris. What’s unique about these places, and how do you think those differences affect the growth of Web3 around the world?

Silicon Valley remains unparalleled in its access to capital and tech talent, solidifying itself as the global tech hub. It’s a natural home for Web3 infra and defi applications, since the ecosystem fosters rapid experimentation and scaling. NYC complements this, as a global financial hub, bridging traditional finance and decentralized finance through its deep connections to institutional players.

Tel Aviv has a strong pool of engineering talent and cybersecurity expertise. These strengths naturally feed into the Web3 ecosystem, with local startups driving advancements in blockchain security, scalability, and cryptography. The startup culture in Tel Aviv is cutting-edge, especially in areas including zero-knowledge proofs and decentralized finance.

Paris, while the smallest hub of the three, brings its own distinct contributions to the Web3 space. During my time in Paris, I was part of the startup incubator Entrepreneur First, where I noticed that investors and startups mostly focused on deep tech. Paris is a growing hub for creative industries like NFTs, digital fashion, and art, blending its cultural richness with Web3 innovation. Its emphasis on regulation and ethical use of blockchain also shapes how Web3 can responsibly coexist with traditional systems and brands.

Each of these hubs contributes uniquely to the growth of Web3: Silicon Valley drives scalability and funding, Tel Aviv leads in security and infrastructure, and Paris brings creativity and regulatory foresight. Together, they reflect how diverse regional strengths are shaping the future of Web3 on a global scale.

Do you feel that the current tech hubs are well-suited to incubating and nurturing Web3 companies, given these different dynamics? What adjustments or new support structures do you think might be needed to foster growth in Web3 specifically?

I believe the current tech hubs are well-suited to incubating and nurturing Web3 companies. Each hub has its own unique culture and strengths, driving innovation in different ways and fostering diversity. Given that much of Web3 operates remotely, access to talent is less of a constraint than in traditional industries. One area for improvement, however, is education—highlighting the broader potential of Web3 beyond just trading could inspire more engineering talent to enter the space and push growth.

Solidity Challenge 🕵️‍♂️

Can you identify the compilation issue in the provided code snippet without running it through a compiler?

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Solidity Challenge Answer ✅

Answer: The delete operation cannot be performed on storage pointers like record in Solidity. Instead, you would need to delete the data from the mapping directly using the delete userBookRecord[msg.sender]; statement.

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