Crypto isn’t Web 3.0, it’s Capitalism 2.0 — Crypto exec
Cryptocurrencies and blockchain technology can modernize the entire capitalist system and are not just a niche internet development.
Calling crypto “Web 3.0”, the third layer of the internet that enables permissionless asset ownership on the Web, “undermines” crypto’s true significance, which is a complete overhaul of the capitalist system, according to Mert Mumtaz, CEO of remote procedure call (RPC) node provider Helius.
Mumtaz said that crypto supercharges all the necessary ingredients for capitalism to function properly, including the free flow of information in a decentralized way, immutable property rights, incentive alignment, transparency, and “frictionless” capital flows. Mumtaz added:
In September, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), two US financial regulatory agencies, released a joint statement teasing the possibility of 24/7 capital markets in the country.
