The World Economic Forum unveils its future vision for crypto

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The World Economic Forum (WEF) recently published an article outlining its future vision for crypto.

He mentioned JPMorgan and other “big financial institutions” in the context of 180’ing their initial digital asset skepticism. While also pleading for “disruptive technologies” to be entrusted to “responsible actors”.

“The most sustainable approach with all breakthrough technologies is to eliminate their harmful effects by placing the technologies (like all tools) in the hands of responsible actors and encouraging their responsible use.”

Crypto needs to be ruled by ‘safer hands’

The article devoted a significant proportion of the word count to a high-level summary of what went wrong in crypto last year.

“By all accounts, 2022 has been a terrible year for crypto. In total, over $2 trillion of largely speculative market value has evaporated.

He said the events of 2022 had been detrimental as the belief in crypto to assume and usurp the broken monetary system had taken a considerable hit.

Moreover, policy makers, warning of impending doom, had been right in multiple instances of large-scale failures.

Drawing parallels to the dot-com bust of the early 2000s and the subsequent “handover” of the internet to “more sustainable businesses,” the author championed a similar approach with crypto, saying recent dramas call until the blockchain infrastructure moves into more stable hands. .

Without directly saying that “big banks and mature financial services firms” were those more stable hands, the article mentioned that these institutions were actively experimenting with crypto technology and monitoring what they did, not what they said.

According to the WEF, crypto needs to be overseen by “responsible actors,” who encourage its responsible use.

Community Feedback

Commenting on the article, @cardano_whale hinted that an element of the 2022 crypto disasters was caused by WEF insiders while sarcastically endorsing JPMorgan’s oversight.

“If we all hand over control of this space to JPMorgan, we will be fine. Lmao, do you rekt.

In response to @cardano_whale, Twitter users expressed general skepticism of the WEF, with one user pointing out that getting into crypto is all about escaping JPMorgan.

@Coachjv_, CEO of crypto education platform 3T Warrior Academy, mentioned the quote, “look at what big banks and mature financial services companies do, not what they say,” from the article is proof that despite authorities publicly denigrating digital assets, they intend to move forward with them in a big way.

Posted in: Bear market, Regulation

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