Calling to the “Web 3.0” crypto, the third layer of the Internet that gives the unauthorized web owner, “undermines” the true importance of crypto, which is a complete overhaul of the capitalist system, according to Mert Mumtaz, CEO of the remote procedure call (RPC) node provider helius.
Mumtaz Says Crypto supercharges all the necessary ingredients for capitalism to work properly, including free flow of information in a decentralized way, irreversible rights, incentive, transparency, and “frictionless” capital flow. Mumtaz added:
“The Crypto endgame is that its introduction changes the most affecting human invention at all times: capitalism. We say Crypto is web 3.0, but it destroys – it’s really capitalism 2.0.”
In September, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), two US financial regulation agencies, released a joint statement Teasing the Possibility of 24/7 Capital Markets In the country.
If the agencies succeed in establishing constant-in capital markets, the move will mark a significant and seismic departure from the legacy financial system, which is slow to move and close the nights, weekends, and most holidays.
Related: Tokenization can unlock the growth of capital markets in Latin America
US regulators have signed 24/7 financial markets will come
The SEC and CFTC have drafted several points that can modernize the existing financial system, including constant markets, regulatory frameworks for eternal futures-contracts-contracts with futures without an expiry date-and regulations for event prediction markets.
“Some markets, including foreign exchanges, gold, and crypto assets, which are ongoing trade. Further expansion of trading hours can better align US markets with the emerging reality of a global, always-on-on-on-on statement Read.
These proposals will further relate the traditional financial system with digital possessions and Move the Legacy Financial System In Internet capital markets through digital metals, including the tokenization of real financial ownership in the blockchain world.
Tokenized assets can include stocks, fiat currencies in the form of stablecoins, private credit, bonds, art, collectib, and even real-estate.
In July, the Solana Foundation, the organization that oversees the development of the Solana Blockchain Network, revealed a a Roadmap to build markets in internet capital by 2027.
Roadmap came amidst many blockchain companies and traditional financial companies that declare tokenized products, including the mix of Robinhood’s broker platform, which introduced tokenized stock trading In July for European users.
