Crypto projects have spent years tracking users with token incentives, apps, and speculation. Now, some of the industry’s biggest pitches are starting to sound like selling enterprise software.
This was the message from Hashgraph CEO Eric Piscini in a recent interview with TheStreet Roundtable, where he argued that the crypto market is moving from user acquisition to business infrastructure.
”It’s completely fair to say that at an industry level.” Pisini said of the change.
He said Hashgraph has been targeting enterprise adoption since 2018, focusing on payments, organizational and supply chain use cases.
Instead of asking companies to embrace token culture, more and more companies are trying to sell blockchain as a practical tool for payments, compliance, and coordination.
Pitch blockchain to Google, IBM, and other big companies
Pisini said one of the main reasons major companies are willing to get involved is credibility.
When companies first started researching cryptocurrencies, many didn’t know where to start. He said Hashgraph’s approach was to give executives a place to talk to peers already working on blockchain, rather than diving directly into the more chaotic corners of the industry.
That helped build momentum. Once a well-known company like Google came on board, other companies felt more comfortable exploring the technology.
Pisini also said that while businesses believe there is real value in blockchain, they often don’t know how to take advantage of it. This has created an avenue for companies that promise not just technology but implementation support and a more enterprise-ready platform.
Hadera’s unique node structure
That claim is consistent with Hedera’s public structure.
The network states that it is controlled by known institutions through the Hedera Council, and official documents state that the mainnet’s consensus nodes are authorized and operated by members of the council.
For regulated companies, it may be easier to underwrite than a system run by anonymous validators.
Why permissioned systems remain attractive
Piscini made the most direct case for compliance when discussing why Hashgraph did not disclose its node operations to everyone.
“The first thing you mention is reliability,” he said. “The second one is compliance.”
His example was simple. In a permissionless blockchain, transaction fees can be paid to validators whose identity and location are not known. He argued that in regulated financial markets, it could create legal and sanctions risks.
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“That node could be operated by North Korea,” Pisini said. “Then all of a sudden you’re paying a fee to North Korea. This is a criminal act.”
This discussion focuses on growing cracks in crypto infrastructure. Public blockchains still dominate mindshare, but corporate buyers are often more concerned about whether governance, accountability, and compliance teams are comfortable with the system than ideological openness.
Hashgraph is expanding further into that market. In 2025, the company introduced HashSphere, a private permissioned network built using Hedera technology for regulated enterprises seeking more control and privacy.
If Pisini is correct, the next phase of cryptocurrency adoption will not resemble another token boom. It will be like blockchain slipping into the backend of business systems where reliability and compliance are more important than hype.
