World Economic Forum (WEF) thinks that the “winter” in the crypto money industry of 2022 could be a turning point for the industry.
Dante Disparte, head of the WEF’s Digital Currency Governance Consortium, expressed his views in a blog post published Jan. Disparte noted that the market downturn could be equated to the “dot-com bubble” in which most companies were wiped out as hard assets came to the fore.
Indeed, the WEF cryptocurrency He also acknowledged the role of blockchain technology in the financial sector, while pointing out that the future of business units will be driven by regulators.
While drawing attention to the importance of the actions of the authorities who want to regulate the sector, WEF also stated that bad actors may continue to exploit the sector.
Countries that enable responsible competition will shape the future. Cryptography and blockchains will continue to be integral parts of the modern economic toolkit, despite the enormous damage these tools can cause when used by the wrong people.
Cryptocurrency and Finance Sector Now Very Close
WEF, cryptography and blockchainHe drew attention to the widespread use of the underlying technology. WEF thinks that these practices and trials should be followed closely and paid attention.
In this direction, the WEF cited organizations that are increasingly adopting the use of blockchain, such as banking giant JPMorgan.
However, the WEF also noted that the potential for malicious names to misuse technology and the inherent risks of any industry involving money will always be present.
In addition, the WEF stated that banning the industry may not be the right approach as crypto is witnessing loss of funds.
The more enduring approach to all breakthrough technologies is to clarify their harmful effects by putting them in the hands of responsible actors and promoting their responsible use.