Web3 offers the potential of a huge and lucrative new horizon for entrepreneurs and businesses of all sizes—but along with this comes the risk of the unknown and unregulated business practices. Can businesses and entrepreneurs afford to wait until regulation catches up?
Top businesses have already begun establishing their presence on the blockchain, so the answer appears to be “no.” In fact, it’s likely that businesses and entrepreneurs who are already blazing the trail to Web3 will also show us the way toward a more trustworthy and, yes, regulated blockchain. Getting consumers to take the leap to Web3 will depend on convincing consumers that they can trust it.
On the one hand, proponents of the decentralized web claim that its decentralization is what makes it more secure. On the other hand, news of bad actors siphoning millions of dollars from blockchain wallets tells us otherwise.
So, how do we get from the chaos of an unregulated new frontier to the relative order of a regulated and trusted Web3?
Continue reading: https://www.forbes.com/sites/forbesbusinesscouncil/2022/08/30/filling-the-web3-regulatory-void-is-up-to-businesses/?sh=1319cc616949
Top businesses have already begun establishing their presence on the blockchain, so the answer appears to be “no.” In fact, it’s likely that businesses and entrepreneurs who are already blazing the trail to Web3 will also show us the way toward a more trustworthy and, yes, regulated blockchain. Getting consumers to take the leap to Web3 will depend on convincing consumers that they can trust it.
On the one hand, proponents of the decentralized web claim that its decentralization is what makes it more secure. On the other hand, news of bad actors siphoning millions of dollars from blockchain wallets tells us otherwise.
So, how do we get from the chaos of an unregulated new frontier to the relative order of a regulated and trusted Web3?
Continue reading: https://www.forbes.com/sites/forbesbusinesscouncil/2022/08/30/filling-the-web3-regulatory-void-is-up-to-businesses/?sh=1319cc616949
