Collaboration Between Academics, Regulators, And Web3 Builders Crucial For Growth

According to Cointelegraph, an executive at the Centre for Blockchain Technologies (CBT) in the United Kingdom emphasized the importance of collaboration between academics, regulators, and Web3 builders for the growth of the Web3 space. Speaking at the Peer-to-Peer Financial Systems (P2PFISY) Workshop 2024 in Dubai, Francesco Pierangeli, the deputy director of the UK CBT, highlighted the significance of engagement and collaboration in the crypto industry and the role of universities in generating crypto ideas. Pierangeli, who also serves as an assistant professor at the University of Birmingham, noted that technologies developed in academic settings have been crucial to the crypto space. He pointed out that many ideas in the crypto world, including Bitcoin, originated from universities. This is evident from the references in the Bitcoin white paper, which showcase the academic roots of the technology. Pierangeli stressed the need for regulators to break the silos they have traditionally operated in by engaging with other community members. He explained that previously, academics, regulators, and practitioners worked in isolation, with little interaction between them. He emphasized the importance of academics meeting with regulators to discuss and explain the industry's needs, which could lead to a better understanding of the sector. Bringing the latest academic research to regulators can provide them with insights into what has been achieved within universities. This engagement can help regulators and practitioners think about the future of the industry. Pierangeli believes that such collaboration is essential for the continued growth and development of the Web3 space. Regarding the future of the crypto space, Pierangeli expressed optimism and confidence. He stated that the crypto space has already established itself and is here to stay. He mentioned that he is very positive and optimistic due to the presence of many smart individuals building on blockchain technology. Pierangeli is particularly confident about the trend of institutional adoption of blockchain. While acknowledging the difficulty in predicting the exact future of crypto over the next five or six years, Pierangeli believes that the positive trends will continue. He sees no reason why these trends would not persist in the future.