Web3 technology and global money, are often highlighted for potential breakthroughs, but still mass adoption until now? In our journey let’s look at the obstacles and propose ways through them.
Simplifying the Onboarding Process:
Perhaps, one big hindrance is that people get interested in Web3 and are willing to start using it. Think of it like this: imagine a situation wherein you would like to play a leader game online and in the first place you need to learn the basics about the setting up of a special wallet and buying the digital tokens. It’s not exactly user-friendly.
Security Concerns:
Cybersecurity is the next problem to highlight. What is common among the majority of people is that they use the same password for all their accounts, which is dangerous. This potential in Web3 is especially related to the fact that here it is your money that is at risk. Also, tales of cryptocurrency fraud and hacking, an unpromising things to others.
Changing Perceptions:
The statements about the crypto industry that it is kind of lawlessness wouldn’t help either. It’s like telling one that he’s going to buy something when he thinks that he’s going to sell his socks at 3 a.m. We must have more positive narratives and better guidance on good online security ways.
Regulatory Confusion:
One of the confusions surrounding crypto lies in the fact that different countries have their own rules for this market. In some parts of the country, it is loathed, while in others it is prohibited totally. The apparent instability acts as the temper that prevents people from getting excited about Web3.
Tech Complexity:
Programing Web3 apps can be complex and bewildering for beginners. Picture yourself placed in a situation where you must constantly use special digital money to score points. It’s not exactly beginner-friendly.
So, what’s the solution? We need to simplify entry into a decentralized network (Web3), ensure the safety of transactions, tell the users how to stay safe online and explain the legislative framework of digital money. This is the point when we can finally start to maximize the benefits of this amazing technology.
How Will Biden’s SAB 121 Accounting Crypto Law Impact the Future of Digital Assets
USA Congress is on the brink of a big breakthrough, according to the last few days’ headlines in the cryptocurrency world. The legislators have undertaken an action that is contrary to what is advocated for by the Securities and Exchange Commission (SEC) Staff Accounting Bulletin (SAB) No. 121 (SAB 121). This means that the matter of crypto regulation has yet to be resolved and if the president will keep his veto threat remains to be uncertain.
The sweeping bipartisan ruling of Congress that reversed SAB 121 serves as a stark indication that crypto is maturing and gaining ground in the political dome. The fact that a majority of senators threw their support behind the CRA to the SEC rule clearly demonstrates the coalition of crypto bill advocates.
Surprisingly, President Biden has promised to veto any bill to nullify of SEC’s actions. As the supporters mount, one wonders whether he’ll hold to his words. The presidential candidate Donald Trump’s latest statement pronouncing his pro-crypto stance and the American Congress’ active effort to introduce a crypto bill have pressurized the Biden Administration to change their initial position.
The CRA’s bipartisan support served as a precedent of turning the tide towards a more open-minded perspective on the digital asset class among the Washington establishment. The possibility that Senate Majority Leader Chuck Schumer supports the bill can prompt the White House to reconsider its stance.
Besides the political sphere, there is not only considerable force from the crypto community but also from the banking sector. According to the American Bankers Association, the president should pass the resolution now and with that encourage innovation by protecting the consumers.
President Biden’s move to veto the CRA would not only cause internal clashes amongst the party-faithful Democrats but also run the risk of losing a growing section of the crypto supporters. Interestingly, there might be another solution to this paradox.
The SEC can choose to undo the SAB 121, therefore, ending the necessity for President Biden to veto the bill. The other commissioner of the SEC, Hester Pierce, has voiced fears that such rulemaking may constrict innovation and scare away potential new entrants.
Lifting SAB 121 wouldn’t just eradicate President Biden’s dilemma but also bring a smile to the faces of the crypto community. It would illustrate the readiness to adjust to the changing market repercussions and apply the reasonable regulatory framework.
At the end of the day, it’s up to the SEC whether to make changes. In light of the loud calls for reforms, the Securities and Exchange Commission will be closely followed to see how they are going to respond.
Will Arbitrum DAO’s Big Tech Tactic Pay Off? Mergers and Acquisitions for Blockchain Growth
Arbitrum DAO, a digital cooperative with over $3 billion in cryptocurrency assets, is considering a bold move inspired by Big Tech: mergers and acquisitions (M&A). Through the backing of an eight-week pilot program suggested by Bernard Schmid, a co-founder of Areta, the DAO seeks to discover and implement the best solutions in the field of decentralized finance (DeFi), to extend the scope of its possibilities.
The proposed project aims at a thorough investigation of the possible profitability of M&A transactions as a result of the strategy study. It also provides a forum where data-driven discussions among DAO members happen and sets the stage for future acquisitions to be considered.
If the pilot is a success, it will serve as the foundation for the DAO’s very own M&A funding unit with a substantial investment of $100 million to $250 million. This unit would have the two-year goal of identifying and investing in the most promising opportunities in the cryptocurrency space.
Arbitrum DAO governs Arbitrum, the most used layer 2 blockchain on Ethereum, and has the largest treasury in the industry of decentralized finance. The Secret SAO seeks to replicate the growth strategies of Big Tech giants through using an M&A approach.
Nevertheless, to date, there have been few M&A transactions in the crypto space compared to other industries. Decentralized autonomous organizations (DAOs), such as Arbitrum DAO, are often associated with specific problems during M&A, as decisions that require approval of the members are made not as it is in a traditional corporate structure.
Despite the potential benefits of M&A for Arbitrum DAO, a group of members are somewhat skeptical about it. Doubts arise about the scalability of M&A openings in the crypto sphere as well as the possible risks.
However, the DAO went ahead with the pilot program to test the viability of merger and acquisition as a strategic option for its growth. Possible acquisition targets include marketing firms, infrastructure suppliers, and other layer 2 blockchains, including many others.
Prior mergers in the crypto sector, for example, Polygon’s acquisitions of Mir and Hermez, have proven that proper acquisitions are an effective tool to enhance the efforts of a project to grow. However, M&As involving DAOs, for example, Fei and Rari, serve as reminders for other DAOs that such a transaction may be very tricky.
In the final analysis, the Arbitrary DAO’s consideration in M&A reflects the dynamic nature of the cryptocurrency sphere and advanced approaches utilized by the decentralized organizations for expansion and competitiveness reinforcement.
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