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The World Economic Forum (WEF) recently article We outline our vision for the future of crypto.
It referred to JP Morgan and other “major financial institutions” in the context of 180’ing from the initial skepticism of digital assets. It also advocates handing over groundbreaking technology to responsible actors.
A more permanent approach to any breakthrough technology would offset its harmful effects by placing it (like all tools) in the hands of responsible parties and encouraging its responsible use. is to do.”
This article devoted a fair percentage of its word count to a high-level summary of what went wrong with cryptocurrencies in the last year.
By any measure, 2022 has been the worst year for cryptocurrencies. Overall, over $2 trillion in market value, mostly speculative, has evaporated.
He said the events of 2022 were damaging because the crypto belief in hijacking and robbing broken monetary systems took a heavy toll.
Moreover, policymakers who had warned of impending disaster had been proven correct across multiple instances of large-scale failures.
As an analogy to the dotcom bankruptcy in the early 2000s and the subsequent handover of the internet to more durable companies, the authors advocate a similar approach in cryptocurrencies, with the recent drama Block. He said he wanted to move the chain infrastructure into more stable hands. .
While it doesn’t say directly that “big banks and mature financial services firms” are the more solid hand, the article points to the fact that these institutions are actively experimenting with cryptography and not what they say. , says he’s watching what they do.
According to the WEF, cryptocurrencies require oversight by responsible actors who encourage their use in a responsible manner.
Commenting on the article @cardano_whale Elements of the 2022 crypto disaster implied that it was caused by WEF insiders while sarcastically acknowledging oversight by JP Morgan.
“Hand control over this area to JP Morgan and all will be well. Lmao, get rekt“
Responding to @cardano_whale, Twitter users expressed general skepticism about the WEF. 1 user He points out that getting into cryptocurrencies is essentially escaping from JP Morgan.
@Coachjv_CEO of crypto education platform 3T Warrior Academy, referred to the quote, Focus on what big banks and mature financial services companies do, not what they say. To go big with them.
