According to @1HowardWu, the crypto industry has achieved widespread adoption in trading, stablecoins, and foundational DeFi even without private smart contracts, as cited in a tweet dated May 28, 2025 (source: twitter.com/1HowardWu). This highlights a significant gap in on-chain privacy, suggesting that the introduction of private smart contracts could dramatically enhance user experience and security, paving the way for Web2-level usability on blockchain platforms. For traders, this development represents a potential inflection point, as improved privacy features may attract institutional capital and expand use cases, supporting higher trading volumes and broader market participation.