As the crypto world grapples with the fallout from FTX, Web3 Working Group founders said Fortune that the industry should emphasize building utilities, what they describe as the “plumbing of the web,” to remake the Internet around decentralized protocols and services.

Amy and Devon James, the co-founding husband-wife combo, plan to use the funds to produce videos aimed at consumers and regulators to help explain crypto basics, as well as a series of informative resources for developers. They previously created the Open Index Protocol, an open source index and file library project.

Rather than focus on the type of investment-focused content normally associated with cryptocurrencies, the Jameses want to highlight the behind-the-scenes infrastructure that Web3 proponents hope will supplant the centralized giants. Amy pointed out everything from cloud processing to API queries.

“Instead of them being closed platforms controlled by a handful of companies like Amazon and Microsoft,” he said, “[Web3 companies] they are turning those services into open protocols controlled by their users.”

Amid carpet pullouts, bankruptcies, and hacks, the Web3 Task Force hopes to spotlight a decidedly less sexy and less volatile sector of the industry. Its patrons are lesser-known crypto companies that do the kind of infrastructure work the nonprofit aims to encourage.

Arweave, for example, is a blockchain-based data storage solution that recently announced a partnership with Meta and Instagram to archive digital collectibles (although, apparently in Web3 Working Group’s vision, it will one day supplant the established titans). Calling itself the “Google of Blockchain,” The Graph raised a $50 million round of funding in early 2022 to index and query blockchain data.

The basic videos produced by the Web3 Working Group will be aimed at general audiences looking to learn about basic cryptographic concepts such as public key cryptography and blockchain. As regulators around the world figure out how to approach legislation for the industry, Amy and Devon said they hope to reach out to legislators and their staff as well. Like 501(c)(3), they cannot engage in lobbying, but instead aim to fill knowledge gaps through educational content.

Amy said they have already given a presentation to the Financial Innovation Caucus, a bipartisan group chaired by Sen. Cynthia Lummis (R-Wyo.) and Sen. Kyrsten Sinema (D-Ariz.), and are planning more presentations for House caucuses and the Senate. .

With the industry and markets still reeling from the FTX collapse, Amy and Devon said Fortune that education among consumers and regulators can help prevent future crises.

“If the general public and regulators understood how public and private key cryptography works, there could be an expectation, either legal or just a market expectation, that all major exchanges would do exactly that,” Devon said. “And yet here we are, 15 years in this industry, and something like FTX is still possible.”

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