Regulations set the table for more talent, capital and building in crypto industry
Categories: Crypto News US
The feeling in the crypto and decentralized finance space has been shifting and evolving. The industry is also becoming more scrutinized and, inevitably, more organized. Some weeks ago, United States President Joe Biden signed an Executive Order to expedite and focus regulatory oversight of the $3-trillion industry.
The order will spur the government to examine the risks and benefits of cryptocurrencies, with a particular focus on consumer protection, financial stability, illicit activity, U.S. competitiveness, financial inclusion and responsible innovation. While the results of this order have yet to unfold, this moment helps to set the table for more clarity, predictability, security and stability for decentralized finance (DeFi).
Meanwhile, there are plenty of signs that the DeFi and crypto ecosystem is teeming with talent, creativity, energy — and capital hungry to participate. Denver recently hosted one of the largest Ethereum conferences and hackathons of the pandemic era. Over nine days in February, ETHDenver welcomed more than 12,000 people to the in-person event to share ideas, build and reveal new protocols, curate investments and socialize.
Word got around town during the conference that a group of brilliant youngsters in their late teens and early 20s had set up a hacker house in Denver. Some of the most talented, smartest and youngest hackers in the world were there welcoming venture capitalists to visit.
The price of admission for a chat on the ground was $3,000 a pop. Events like ETHDenver and impending regulatory involvement and oversight reveal a path for an energetic, meaningful and proactive year ahead in the crypto industry.
Talent meets creativity meets money
Denver included an interesting and eclectic ecosystem of players, investors and builders. The culture and industry are strengthening and deepening. When thirsty venture capitalists (VC) are paying $3,000 just to talk to the smartest 19-year-olds in the country, it’s a bold sign of life in the industry. Denver showed us that the space is much less fringe than it used to be.
The battle for talent escalates
One common discussion point in Denver was that everyone is hiring and struggling to maintain a pipeline of talented, experienced and engaged developers, engineers and technical experts. We can expect that trend to continue as the mainstream world becomes increasingly interested in crypto and DeFi.
It’s likely that Web2 talent from the likes of Facebook, Apple, Amazon, Netflix and Google will increasingly be pulled into Web3 — and that’s a good thing.