Crypto as Capitalism 2.0
Mert Mumtaz, CEO of RPC Node Provider Helius, refers to Crypto as the embodiment of “Web 3.0.” He argues that it enhances crucial aspects necessary for effective capitalism—free information, secure property rights, aligned incentives, transparency, and seamless capital movement. Mumtaz elaborates:
“The goal of Crypto is to radically transform humanity’s most significant inventions. While I say Crypto is Web 3.0, that might actually downplay its potential—it’s more like Capitalism 2.0.”
In September, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) made an announcement regarding the possibilities for 24/7 domestic capital markets. If these initiatives are successful, it could represent a major shift from the traditional financial system, which often operates on limited schedules.
Signs of Always-On Financial Markets
The SEC and CFTC provided several proposals aimed at modernizing the current financial landscape. These include the establishment of continuously operating markets, regulatory frameworks for perpetual futures contracts, and regulations for event prediction markets.
“Certain markets, such as forex, gold, and crypto assets, are already trading continuously. By expanding these options, the US market could align better with the reality of an ever-changing global economy,” noted the joint statement.
The proposals suggest further integration of digital assets with conventional financial systems, urging a shift from legacy structures to digital solutions, like tokenizing existing financial assets on the blockchain.
Tokenized assets could encompass various forms, including stocks, credit instruments, bonds, art, collectibles, and even real estate, along with traditional currency.
In July, the Solana Foundation revealed its roadmap aimed at developing an Internet capital market by 2027. This plan surfaced amidst collaborations between blockchain firms and traditional financial entities, who have started introducing tokenized products, particularly in the realm of stock trading for European users.
