NFTs, the Metaverse, and Everything Web 3.0

Chapter 6. Regulation

If the best way to predict the future is to create it, then unfortunately, the easiest way to predict the future is to prevent it. In the case of Web 3.0 and specifically blockchain technology, it is imperative to not only be learning but also to be educating societal leaders, especially our elected representatives, about the technology and its potential.

It is vital that we allow innovators room to grow in the United States. Congress should adopt national policies that define and establish digital assets as a new asset class, including appropriate rules and exemptions. Without a national policy framework for digital assets, I’m concerned that the United States will not be a world leader in this critical new technology, that it will continue to fall behind, and that it will not fully reap the benefits of economic transformation that digital assets will bring.¹

—Jeremy Allaire, founder and CEO of Circle; Testimony to the Senate Committee on Banking, Housing, and Urban Affairs

Blockchain Best Practice #10: Educate, Educate, Educate

In Blockchain Success Stories, after writing 10 case studies, my coauthor and I came up with a list of best practices that were applicable to any blockchain project. The tenth and final best practice emphasized the importance of education.

There are four different groups on whom blockchain education should be focused. The first group is developers. Human capital is one of the biggest constraints for implementing blockchain ...