Founder of CryptoQuant Ki Young JuIn his statement on September 29, he emphasized that cryptocurrencies and Web3 are not scams under good regulation. According to Ju, Web3’s limitless collaboration and value creation potential can offer great opportunities with the right regulations. The founder of CryptoQuant is of the opinion that with smart adjustments, Web3 will become a reliable and stable space.
Potential of Web3
Ju, Web3He stated that ‘s enables cross-border collaboration through token-based incentives. According to him, Web3 operates less like a “company” and more like a “protocol”. This offers the potential to revolutionize the way humanity collaborates. While large global companies like Google employ hundreds of thousands of people, Web3 protocols could one day involve millions of people.
Admitting that there are cases of fraud in the Web3 ecosystem, Ju said: blockchain He stated that it should not overshadow the great potential offered by technology. According to him, frauds may exist in Web3, as in every financial sector, but this should not darken the future of the technology.
Regulations and Political Support
Ju, Web3 and cryptocurrencyHe argues that smart regulations must be implemented in order for businesses to be successful. He emphasized that there may be a slowdown in the short term, but in the long term this will ensure that the sector has great growth potential. According to him, with the right rules, crypto and Web3 can develop responsibly.
Ju also noted that politicians’ interest in crypto is critical for regulatory advancement. Especially in South Korea cryptocurrency regulationsHe pointed out what action should be taken and stated that it is important to accelerate this process, even if the views of politicians interested in crypto are extreme.
The CryptoQuant founder added that unless there is interest in cryptocurrencies, nothing will be done and regulations will not move forward. Citing the situation in South Korea as an example, he stated that he wanted to talk more about cryptocurrencies and bring this issue to the agenda.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
