a16z publishes regulatory advice: 10 principles for world leaders to shape the future of Web 3.0

After Coinbase, FTX, and Binance successively proposed their vision for crypto regulation, Andreessen Horowitz (A16z), a major venture capital firm in the crypto industry, put forward its own proposal for Web 3.0 regulation.

Previously, Coinbase and FTX’s regulatory proposals only focused on U.S. regulations, while A16z’s regulatory proposal this time is consistent with Binance’s, targeting “world leaders” rather than just the U.S., advocating the adoption of policies that include governments, businesses, and civil society groups. A multi-stakeholder approach to governance.

The following is the translation and translation:

It's time to build a better internet.

The world deserves technology that unlocks opportunities for millions of people on the edge of innovation and empowers people to take control of their digital lives.

This is Web 3.0, a set of technologies that includes digital assets, decentralized finance (DeFi), blockchain, smart contracts, tokens, and decentralized autonomous organizations (DAOs). Together, these tools enable new forms of human collaboration. They can break many of life’s deadlocks and help communities make better collective decisions about key issues such as how the network will develop, what behaviors are allowed, and how economic benefits will be distributed.

Web 3.0 is the successor to the Internet. Just as the Internet changed the way people communicate and exchange information, Web 3.0 is defined by changing the infrastructure that moves value around the world. After the Internet, the emergence of Web 3.0 is the largest global technology ever. The first generation of the Internet, Web 1.0, was incubated within governments and civil society, and then slowly made its way to the world. Web 2.0 (the big tech platforms of today) started out as small companies in a handful of regions and in just a few years became the largest commercial arbiter in human history. At the same time, Web3.0 gradually emerged from every corner of the world. The countries with the most participation in DeFi today are the United States, Vietnam, Thailand, China, the United Kingdom, the Netherlands, and Ukraine; major cryptocurrency adopters include India, Pakistan, Ukraine, Kenya, Nigeria, Venezuela, and Argentina. Venezuela is a representative case of how the financial application of cryptocurrencies can fill the void in economically volatile countries.

But Web 3.0 is more than just its financial origins, which is becoming more and more evident around the world. Leading Web 3.0 applications, marketplaces, and game studios have sprung up around the world, and many projects are now built by globalized, decentralized teams operating as DAOs. The international developer community is growing at an unprecedented rate.