Article
Cointelegraph: Industry has a ‘long way to go’ in addressing Web3 questions
18 Oct
2024

The article emphasizes the need for the crypto community to actively engage in discussions and ask critical questions to better understand Web3 technologies. Economist Paolo Tasca, speaking at the 2024 Peer-to-Peer Financial Systems (P2PFISY) Workshop in Dubai, highlighted the importance of addressing complex issues in Web3. Key points include:

  1. Asking Questions: Dr Tasca encourages the community to challenge the “complexity scam,” where people avoid questions due to perceived complexity. He stresses the importance of using research and academic discussions to demystify new technologies.
  2. Platform for Dialogue: Dr Tasca advocates for a forum where regulators, academics, and consumers can discuss Web3 technologies openly, rather than relying on commercialized information from projects that may hide crucial details.
  3. Addressing Web3 Concerns: While the Web3 narrative has evolved, the industry still faces challenges, especially around crypto assets, consumer protection, disclosure, and regulation. There's a need for further discussion on the relationship between traditional finance (Web2) and decentralized finance (Web3).
  4. Interconnection of Systems: Dr Tasca notes how Web3 and traditional financial models are increasingly intertwined, with some Web3 companies becoming banks and vice versa. This evolving relationship continues to raise new questions and concerns for the industry.

The industry, according to Dr Tasca, has a long way to go in resolving these critical issues.

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