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Global financial markets are seeing challenges that require us to reevaluate ways of creating a marketplace that builds consumer confidence. In consumer products, companies are trying to achieve better supply chain transparency which translates into higher sales and enhanced consumer trust.
The financial services industry recognizes blockchain and digital asset technology as powerful tools for the future of finance. But industry shake-ups like the downfall of Terra, the collapse of FTX and Alameda and the ultimate ripple effects created by those failures created a feeling of uncertainty in an already trepid crypto winter.
In my previous post, I outlined the Paxos vision for Web3 technologies and how our engineers are building infrastructure for the future financial system. This long-term vision comes with an understanding that the best has yet to come and our systematic regulation-first approach will yield results in the not-so-distant future.
Recent events in the digital asset marketplace have impacted the industry in ways that were difficult to fathom only months ago. As more facts come into focus, it’s an opportune time to reflect on the road ahead.
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