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š„We're ready to drop the "R" word...
Venom's regulated blockchain unlocks mass adoption
GM. This is the Milk Road, the crypto newsletter tha-
***Milk Man abruptly enters scene and takes over the keyboard***
Sorry folks, no time for an intro today.
Weāre here to talk about one thing: Mass Adoption.
Well, thereās a completely new type of blockchain that is looking to help with that: Regulated Blockchains.
*gasp* I know, I know. We donāt like dropping the āRā word either.
But hereās the truth: regulation is needed.
Having clear laws and guidelines will help unlock mass adoption and make bigger players comfortable to play bigger games.
So today, weāre gonna talk about:
Why regulation is the key to unlock mass adoption
Use cases: what regulated blockchains can be used for
And weāre teaming up with a friend to make it all happenā¦
Venom Foundation - the worldās first licensed blockchain company by the Abu Dhabi Global Market (ADGM).
WHY REGULATION IS KEY TO UNLOCKING MASS ADOPTION
The āRā word gets a lot of baseless flak. People think it stifles innovation, is just a way to handcuff projects, blah blah blah
But itās actually good for users! It helps governments & institutions adopt a new bad*ss technology.
Regulators that are open to the possibilities of blockchain tech will use it to capitalize on existing assets and will tap into new markets.
(Then there are the cool ass regulators like Nate Dogg and Warren G. If you know, you know.)
Now letās talk about the 2 reasons why regulated blockchains will be a thing:
1/ Some use cases need regulation
Blockchains have a lot of promises. And the most brilliant engineers, founders, and investors are all trying to figure out ways to implement blockchain technology across different industries.
Traditional finance. Real estate. Cross-border trades. Asset tokenizations. You name it.
People are trying to put everything on the blockchain. (Except pooping, thatās still not possible.)
But hereās the thing: some of those use cases need to work with centralized entities and governments.
Wanna easily buy/sell land using the blockchain instead of filling out 8937298 pages of paperwork? Cool, itās possible. But there still needs to be some sort of regulation & compliance.
Want big traditional finance players to join the space? Cool, itās possible. But there still needs to be some sort of regulation & compliance.
2/ It will help people feel ācomfortableā joining the space
Right now, inviting your friends to the crypto party looks a lot like thisā¦
Thatās because crypto is a lot like the Wild Wild West - blockchains are full of scammers, hackers, and rugpullers.
Some regulation is necessary in order to prevent short-term grifters and reckless scammers from causing havoc.
New users will also feel more comfortable using products that have the Regulatory Stamp of Approval.
Itās a paradox between having perfectly trustless technology (decentralized) and having technology that is easy to use and has everyday use cases (works with centralized entities).
Jon Wu (well-known in the crypto space) puts it best:
Let's get our heads on straight and really ask ourselves the question of what MUST be decentralized.
And--if the answer is "everything," including froggy tokens--let's not be surprised when billions of everyday people elect for more convenient ways to access this technology.
ā Jon Wu (@jonwu_)
1:19 AM ā¢ May 17, 2023
To summarize: There are still some super important uses cases for decentralization (i.e Bitcoin can still be used to ābank the banklessā and give people ownership of their money.), but there are also use cases for these regulated blockchains.
Letās dive into a few of thoseā¦
USE CASES FOR REGULATED BLOCKCHAINS
1/ INTERNATIONAL TRADE
This involves a lot of activities like buying goods, transporting them across borders, and paying for them.
Right now, itās a complex process that requires coordination between multiple parties, including importers, exporters, banks, and shipping companies.
Regulated blockchains could help enable international trade to happen more smoothly and efficiently, reducing risk for parties involved, and providing financing options for businesses that need to buy goods from other countries.
2/ LAND REGISTRY
Anything that has to do with registering, buying, or selling land is a pain. You need to fill out endless paperwork and jump through tons of hoops.
It looks like a little like thisā¦
Regulated blockchains can help fix this.
Some other use cases includeā¦
Supply chain management
Decentralized identities
Mortgages
Record keeping
Insurance
And more..
Plus, weāre already seeing some governments around the world start partnering with regulated blockchains to make it all happen.
Kenya
The goal? Develop more Web3 apps and blockchain use cases across the country.
Companies, founders, and government officials will use the Venom blockchain and existing tools to build solutions around supply chain management, land registry, tokenization of assets, voting systems, and more.
TLDR: Regulation is the missing piece of the puzzle thatās been lost under the sofa. And Venom is the only player in the space thatās found it.
Want to dive into a Web3 app that's actually regulated?
MILKY MEMES š¤£
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me giving a presentation to my parents to convince them to let me sleep over at my buddy's
ā Milk Road Images (@MilkRoadImages)
1:30 PM ā¢ May 20, 2023
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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