Economist Urges Crypto Community To Ask Questions And Seek Knowledge

According to Cointelegraph, economist Paolo Tasca emphasized the importance of asking questions and gaining knowledge to navigate the evolving Web3 market. Speaking at the Peer-to-Peer Financial Systems (P2PFISY) Workshop 2024 in Dubai, Tasca, who founded the University College London Centre for Blockchain Technologies, the DLT Science Foundation, and Exponential Science, highlighted the need for a platform where regulators, academics, and consumers can discuss critical industry questions. Tasca pointed out that many community members fall into what he calls the “complexity scam,” where they avoid asking questions due to the perceived complexity of the answers. He stressed the necessity of workshops like P2PFISY, which provide a non-commercial setting for discussing technology. Tasca criticized some crypto projects for omitting crucial information to focus on marketing, suggesting that such platforms could help participants use research papers and educational materials to ask and answer pertinent questions. The economist also noted that while the Web3 narratives have evolved, the industry still faces significant challenges in addressing issues related to crypto assets, consumer protections, disclosures, and regulations. He mentioned the ongoing questions about the “spillover effects” between traditional finance and decentralized finance. Tasca observed a “consolidation of ideas” over the past decade, with discussions evolving from basic crypto economies to complex interconnections between traditional systems and Web3. He highlighted the collaboration between Web2 financial models and Web3, noting that some Web3 companies have become banks and vice versa. Tasca concluded that the discussions are now centered on the interconnection between old technologies and the emerging “new world.”