According to Mert Mumtaz, CEO of the remote procedure call (RPC) node service provider Helius, referring to cryptocurrency as "Web 3.0"—the third phase of the internet that enables permissionless ownership of assets on the network—actually "diminishes" the true meaning of cryptocurrency. The significance of cryptocurrency lies in its potential to fundamentally revolutionize the capitalist system.
Mumtaz stated that cryptocurrency fully reinforces the core elements necessary for the normal operation of capitalism, including the decentralized free flow of information, immutable property rights, coordination of incentive mechanisms, transparency, and "frictionless" capital movement. Mumtaz added:
In September, the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), two U.S. financial regulatory agencies, issued a joint statement suggesting the possibility of achieving a 24/7 capital market in the United States.
If the relevant agencies can establish a 24/7 capital market, it would mark a significant shift from the traditional financial system, which operates slowly and is closed during nights, weekends, and most holidays.
The SEC and CFTC proposed several recommendations that could modernize the existing financial system. These recommendations include establishing a 24/7 market, creating a regulatory framework for perpetual futures contracts (i.e., futures contracts without a delivery date), and implementing regulations for event prediction markets.
The joint statement from the SEC and CFTC noted: "Certain markets, including foreign exchange, gold, and crypto assets, have already achieved continuous trading. Further extending trading hours will help the U.S. market better adapt to the new realities of a globalized, 24/7 economy."
These proposals will further promote the deep integration of the traditional financial system with digital assets. Through digital infrastructure (including tokenizing real-world financial assets on the blockchain), there is hope for transforming the traditional financial system into an internet-based capital market.
Tokenized assets can include stocks, fiat currency issued in stablecoin form, private credit, bonds, artworks, collectibles, and even real estate.
In July, the Solana Foundation, responsible for the development of the Solana (SOL) blockchain network, released a roadmap aimed at promoting the development of internet capital markets by 2027.
During the release of this roadmap, several blockchain companies and traditional financial institutions announced the launch of tokenized products. According to Robinhood, the platform launched tokenized stock trading services for European users in July.
Related: Kalshi to "defend prediction markets" in Massachusetts lawsuit
Original: “Crypto executives say cryptocurrency is not Web 3.0, but Capitalism 2.0”
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
