Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-cd9895bd7-q99xh Total loading time: 0 Render date: 2024-12-27T00:11:54.146Z Has data issue: false hasContentIssue false

Part IV - Challenges and Future Horizons of Web3

Published online by Cambridge University Press:  21 November 2024

Ken Huang ,
Youwei Yang ,
Fan Zhang ,
Xi Chen  and
Feng Zhu
Ken Huang
Affiliation:
DistributedApps.ai
Youwei Yang
Affiliation:
Bit Mining Limited
Fan Zhang
Affiliation:
Yale University, Connecticut
Xi Chen
Affiliation:
New York University
Feng Zhu
Affiliation:
Harvard Business School
Get access
Type
Chapter
Information
Web3
Blockchain, the New Economy, and the Self-Sovereign Internet
 , pp. 289 - 351
Publisher: Cambridge University Press
Print publication year: 2024

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

References

Adamco, Alina. 2022. “The First Crypto Asset Regulation Is Set to Come into Effect in Dubai.” Metropolitan Premium Properties. https://metropolitan.realestate/media/news/dubaiapprovesthefirstofitskindlawtoregulatenftsandcrypto/.Google Scholar
Brett, Jason. 2023. “Senators Reintroduce Landmark Crypto Bill Amid Heavy Competition and Regulatory Turf Battles.” Forbes. www.forbes.com/sites/jasonbrett/2023/07/13/senatorsreintroducelandmarkcryptobillamidheavycompetitionandregulatoryturfbattles/.Google Scholar
Browne, Ryan. “EU Lawmakers Approve World’s First Comprehensive Framework for Crypto Regulation.” CNBC, April 20, 2023. https://www.cnbc.com/2023/04/20/eu-lawmakers-approve-worlds-first-comprehensive-crypto-regulation.html.Google Scholar
California. 2022. “5.4.22 Blockchain EO N 9 22 Signed.” Gavin Newsom. www.gov.ca.gov/wpcontent/uploads/2022/05/5.4.22BlockchainEON922signed.pdf.Google Scholar
CNBC. 2022. “Another crypto lender Vauld pauses withdrawals as market crash takes its toll.” CNBC. https://www.cnbc.com/2022/07/04/crypto-lender-vauld-halts-withdrawals-as-market-crash-takes-its-toll-.html).Google Scholar
De, Nikhilesh. 2023. “U.S. House Committee Publishes Draft Stablecoin Bill.” CoinDesk. www.coindesk.com/policy/2023/04/15/ushousecommitteepublishesdraftstablecoinbill/.Google Scholar
DiCamillo, Nate. 2021. “State Lawmaker Explains Wyoming’s Newly Passed DAO LLC Law.” CoinDesk. www.coindesk.com/policy/2021/04/22/statelawmakerexplainswyomingsnewlypasseddaollclaw/.Google Scholar
Dovbnya, Alex. 2022. “Europe Reveals Brutal Plans on Crypto, with DeFi DAOs & Holders About to Face Regulation.” U.Today. https://u.today/europerevealsbrutalplansoncryptowithdefidaosholdersabouttofaceregulation.Google Scholar
Fannizadeh, Fatemeh, and Danise, Amy. 2023. “Lawmakers in New Hampshire and Utah Recognize DAOs as Legal Persons.” Forbes. https://www.forbes.com/sites/digital-assets/2023/03/07/-new-hampshire-utah-recognize-daos-as-legal-persons.Google Scholar
Gschossmann, Isabella. 2023. “Mining the Environment – Is Climate Risk Priced into Crypto Assets?” European Central Bank. www.ecb.europa.eu/pub/financialstability/macroprudentialbulletin/html/ecb.mpbu202207_3~d9614ea8e6.en.html.Google Scholar
Hamid, Jai. 2023. “Japan’s New Stablecoin Regulation Will Take Effect in June – Cryptopolitan.” Cryptopolitan. www.cryptopolitan.com/japansstablecoinregulationseffectinjune/.Google Scholar
Handagama, Sandali. 2022. “UK Regulators to Introduce Rules for Stablecoins in New Markets Bill.” CoinDesk. www.coindesk.com/policy/2022/07/20/ukregulatorstointroducerulesforstablecoinsinnewmarketsbill/.Google Scholar
Helms, Kevin. 2022. “US Senator Introduces Bill to Regulate Payment Stablecoins – Bitcoin News.” Bitcoin.com News. https://news.bitcoin.com/ussenatorintroducesbilltoregulatepaymentstablecoins/.Google Scholar
Jha, Prashant. 2022. “Web3 Will Be Key to the Future of China’s Internet, Says Security Regulator.” Cointelegraph. https://cointelegraph.com/news/web3willbekeytothefutureofchinasinternetsayssecurityregulator.Google Scholar
JING CULTURE & CRYPTO. 2023. “Hong Kong Forges Ahead with Its Web3 Push.” Jing Culture & Crypto. https://jingculturecrypto.com/hongkongforgesaheadwithitsweb3push/.Google Scholar
Jones, Huw. 2023. “EU States Approve World’s First Comprehensive Crypto Rules.” Reuters. www.reuters.com/technology/eustatesapproveworldsfirstcomprehensivecryptorules20230516/.Google Scholar
Kahl, Stephan. 2021. “Germany to Allow Institutional Funds to Hold up to 20% in Crypto.” Bloomberg.com. www.bloomberg.com/news/articles/20210730/germanytoallowinstitutionalfundstoholdupto20incrypto.Google Scholar
Lummis, Cynthia. 2022. “Introducing the Responsible Financial Innovation Act » Senator Cynthia Lummis.” Senator Cynthia Lummis. www.lummis.senate.gov/introducingtheresponsiblefinancialinnovationact/.Google Scholar
Nwaokocha, Amaka. 2023. “Beijing Releases White Paper for Web3 Innovation and Development.” Cointelegraph. https://cointelegraph.com/news/beijingreleaseswhitepaperforweb3innovationanddevelopment.Google Scholar
Polk, Davis. 2022. “FSOC Report on Digital Asset Financial Stability Risks and Regulation – Key Takeaways.” DavisPolk.com. www.davispolk.com/insights/clientupdate/fsocreportdigitalassetfinancialstabilityrisksandregulationkey.Google Scholar
Pymnts. 2022. “Senator Toomey Sounds Alarm for Stablecoin Regulation.” Pymnts.com. www.pymnts.com/cryptocurrency/2022/senatortoomeysoundsalarmforstablecoinregulation/.Google Scholar
Elena, R. 2024. “Crypto Regulations in Germany 2024 – Crypto Capital of Europe.” Coinpedia Fintech News. https://coinpedia.org/cryptocurrency-regulation/cryptocurrency-regulations-in-germany.Google Scholar
Schickler, Jack. 2022. “Switzerland Sticks to Tougher ID Checks for Crypto to Cash Transactions.” CoinDesk. www.coindesk.com/policy/2022/11/02/switzerlandstickstotougheridchecksforcryptotocashtransactions/.Google Scholar
Schickler, Jack. 2023a. “The European Parliament Has Voted for the EU’s Landmark MiCA Regulation and Anti Money Laundering Transfer of Funds Rules.” CoinDesk. www.coindesk.com/policy/2023/04/20/euparliamentapprovescryptolicensingfundstransferrules/.Google Scholar
Schickler, Jack. 2023b. “Stablecoin Issuers Urged to Anticipate MiCA Rules by EU Banking Agency.” CoinDesk. www.coindesk.com/policy/2023/07/12/stablecoinissuersurgedtoanticipatemicarulesbyeubankingagency/.Google Scholar
Shen, Xinmei. 2023. “Hong Kong to Allow Retail Investors to Buy Big Cap Crypto Tokens.” South China Morning Post. www.scmp.com/tech/policy/article/3210863/hongkongallowretailinvestorsbuybigcapcryptotokensboostglobaldigitalassethubambitions.Google Scholar
Singh, Amitoj. 2022. “New Singapore Crypto Law Requires Overseas Only Operators to Be Licensed: Report.” CoinDesk. www.coindesk.com/policy/2022/04/05/newsingaporecryptolawrequiresoverseasonlyoperatorstobelicensedreport/.Google Scholar
SLAVIN, AIDEN. 2022. “US Crypto Regulation Bill Aims to Bring Greater Clarity to DAOs.” Cointelegraph. 2022. https://cointelegraph.com/news/us-crypto-regulation-bill-aims-to-bring-greater-clarity-to-daos.Google Scholar
Weforum.org. 2022. “US crypto regulation bill aims to bring clarity to decentralized autonomous organizations.” The World Economic Forum. https://www.weforum.org/agenda/2022/08/us-crypto-regulation-daos/.Google Scholar
Whitehouse. 2022. “Executive Order on Ensuring Responsible Development of Digital Assets.” The White House. www.whitehouse.gov/briefingroom/presidentialactions/2022/03/09/executiveorderonensuringresponsibledevelopmentofdigitalassets/.Google Scholar
Yang, Yueqi. 2022. “Stablecoins Are Vulnerable to Runs, May Heighten Risks, Fed Says.” Bloomberg.com. www.bloomberg.com/news/articles/20220509/stablecoinsarevulnerabletorunsmayheightenrisksfedsays.Google Scholar

References

Betz, Brandy. 2023. “Stablecoin Issuer MakerDAO Proposes Additional $750 M U.S. Treasury Purchase.” CoinDesk. www.coindesk.com/business/2023/03/07/stablecoin-issuer-makerdao-proposes-additional-750m-us-treasury-purchase/.Google Scholar
Cheikosman, Evin. 2022. “Web3 Tech Can Be Used to Fight Climate Change. Here’s How.” The World Economic Forum. www.weforum.org/agenda/2022/09/regenerative-finance-web3-climate-change/.Google Scholar
Geylan, Zeynep. 2023. “Four RWA Lending Protocols Rank Among Top 10 Lending Apps with Largest Collected Interest.” Bitcoin Insider. www.bitcoininsider.org/article/202618/four-rwa-lending-protocols-rank-among-top-10-lending-apps-largest-collected-interest.Google Scholar
MAS. 2022. “First Industry Pilot for Digital Asset and Decentralised Finance Goes Live.” Monetary Authority of Singapore. www.mas.gov.sg/news/media-releases/2022/first-industry-pilot-for-digital-asset-and-decentralised-finance-goes-live.Google Scholar
Pocket Network. 2022. “‘AWS for Web3’ Pocket Network Shakes Up Infrastructure of the Internet.” PR Newswire. www.prnewswire.com/news-releases/aws-for-web3-pocket-network-shakes-up-infrastructure-of-the-internet-301461401.html.Google Scholar
Shekhawat, Jaiveer S., Krystal, Hu, Nishant, Niket, and Dasgupta, Shounak. 2023. “OpenAI’s Sam Altman raises $115 million for Worldcoin crypto project.” Reuters. www.reuters.com/technology/openais-sam-altman-raises-115-mln-worldcoin-crypto-project-2023-05-25/.Google Scholar
Worldcoin. 2022. “Orb Privacy.” Worldcoin. https://worldcoin.org/privacy.Google Scholar
Worldcoin. 2023. “World ID.” Worldcoin. https://worldcoin.org/world-id.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×