Having premised so much of financial markets regulation on the presumption of intermediation, it may be useful to consider the need for new rules and formal amendments aimed at achieving the longstanding regulatory goals of promoting investor protection, facilitating capital formation by establishing fair and orderly markets, and mitigating risks that disrupt and destabilize markets.
The large caveat here is geography. In many countries, innovators like LBRY are free to thrive, even if they do need to take special care not to accept U.S. users.
So try as they might, this won’t stop the revolution. It will simply chase it offshore. Web 3.0, the internet of value, is at this point inevitable. Even LBRY will move forward, regardless of the outcome of this case.
Perhaps someday soon, U.S. citizens will need to use a virtual private network (VPN) in order access large swathes of the internet, just like the Chinese do. Oh, wait…It’s already happening.
Security is at the heart of decentralization. Most of the blockchain platforms working in isolation are competing with each other over security resources; whether it’s staking or burning coal to solve hashes.
There is no concept of a shared security base because of a difference in execution environments, consensus and complete lack of interoperability.
In an attempt to solve these challenges, Polkadot took a completely different approach and built a massive and powerful platform to enable the next-gen Web 3.0 as they call it!