Crypto isn't Web 3.0, it's Capitalism 2.0 — Crypto exec

Calling crypto “Web 3.0”, the 3rd furniture of the net that enables permissionless plus ownership connected the Web, “undermines” crypto’s existent significance, which is simply a implicit overhaul of the capitalist system, according to Mert Mumtaz, CEO of distant process telephone (RPC) node supplier Helius. 

Mumtaz said that crypto supercharges each the indispensable ingredients for capitalism to relation properly, including the escaped travel of accusation successful a decentralized way, immutable spot rights, inducement alignment, transparency, and “frictionless” superior flows. Mumtaz added:

“Crypto's endgame volition beryllium that it fundamentally evolves the astir impactful quality invention of each time: capitalism. We said crypto was Web 3.0, but that undermines it — it is really capitalism 2.0.”

Source: Mert Mumtaz

In September, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), 2 US fiscal regulatory agencies, released a associated statement teasing the possibility of 24/7 superior markets successful the country.

If the agencies win successful establishing always-on superior markets, the determination would people a important and seismic departure from the bequest fiscal system, which is dilatory to determination and closes connected nights, weekends, and astir holidays.

Related: Tokenization could unlock superior markets maturation successful Latin America

US regulators awesome that 24/7 fiscal markets are coming

The SEC and CFTC outlined respective points that could modernize the existing fiscal system, including always-on markets, regulatory frameworks for perpetual futures contracts — futures contracts without an expiry day — and regulations for lawsuit prediction markets. 

“Certain markets, including overseas exchange, gold, and crypto assets, already commercialized continuously. Further expanding trading hours could amended align US markets with the evolving world of a global, always-on economy,” the associated SEC and CFTC statement read.

These proposals would further intertwine the accepted fiscal strategy with integer assets and migrate the bequest fiscal system to net superior markets done integer rails, including the tokenization of existent satellite fiscal assets connected the blockchain.

An overview of the real-world tokenized plus market, including stablecoins. Source: RWA.XYZ

Tokenized assets tin see stocks, fiat currencies successful the signifier of stablecoins, backstage credit, bonds, art, collectibles, and adjacent real-estate.

In July, the Solana Foundation, the enactment that oversees the improvement of the Solana blockchain network, revealed a roadmap to make net superior markets done 2027.

The roadmap came amid respective blockchain companies and accepted fiscal firms announcing tokenized products, including mixed brokerage level Robinhood, which introduced tokenized banal trading successful July for European users.

Magazine: Can Robinhood oregon Kraken’s tokenized stocks ever beryllium genuinely decentralized?