The downfall of major exchanges like FTX, the collapse of big banks exposed to digital currencies, and the massive hacks in the “crypto” space had many lost trust in investing in digital assets, while some questioned the potential impacts of emerging technologies.
Despite these unfortunate events, industry players who are firm believers of the disruption that blockchain technology and Bitcoin would bring to the table are the key to helping people regain their trust in emerging technologies, said crypto and non-fungible token (NFT) consultant Crypto Megan.
Megan emphasized that not only does the collaboration allow digital asset exchanges to thrive in this bear market, but establishes the trust of the next generation that would adopt emerging technologies.
One thing exchanges are doing to “make things right” nowadays is working with regulators. Previously seen as a move to control the digital asset industry, collaborating with authorities is now being looked at by exchanges as part of heightening investor protection and ensuring the stability of the global financial market.
“Most of them (exchanges) are really trying to comply and work with regulators instead of shutting them out, trying to come to some healthy, happy agreement that we all understand and can get by,” noted Megan. “Also, they’re focused on user experience and building that trust.”
She added that this development is already being seen in several countries, and even other players in the “crypto” industry and traditional finance are coming together to work with regulators.
Megan is one of the speakers at the AIBC Asia Summit held in September at the SMX Convention Center in Pasay City, Philippines, where she spoke about the current digital asset landscape and educate attendees about emerging technologies, which she has been actively doing through her program, Crypto Megan Podcast.
“Whatever narrative that I’m talking about is to help them propel and thrive in this community, and that’s what celebrities in Web3 doing meaningful things so they can use their platforms to teach the outside world and also industry leaders,” said Megan.
As part of her ongoing initiative to actively educate the general public about the digital asset space, Megan announced that she is involved in a project, dubbed Tomy, a decentralized internet infrastructure that would give users the freedom to express themselves without the fear of being censored.
Like Megan, Blockchain Network Philippines CEO and Founder Kenneth James Berey is also on a mission to raise the country’s awareness of digital assets and emerging technologies.
Berey said apart from touring and partnering with universities to educate the public, his company is also servicing clients, mostly startups, looking to transition from Web2 to Web3. This is being done with support from venture capitalists (VCs), both local and international.
Getting connections, which Berey said he does by touring other countries and talking about Blockchain Network Philippines’ ‘crypto’ projects, is vital to supporting their vision.
Berey said raising the public’s awareness of emerging technologies is not the problem, but how to motivate them to transition to Web3.
“It’s all about how they can bridge the Web2 and ask them that this Web3 is safe,” Berey said on what industry players should do to help onboard more people.
Developing products that have utility, such as SurgePay, is one of the best things to get people into Web3.
SurgePay is an app supporting the country’s remittance market, helping locals abroad to send their money easily.
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