ekonomi.kosongin.com – Gavin Wood, co-founder of Ethereum, said cryptocurrency investors need to be more aware of what backs their holdings, after the cryptocurrency market cap evaporated to more than US$800 billion.
“I hope people pay more attention to what is lying about currency names when they are involved in communities, ecosystems, economies,” Wood told Reuters on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Wednesday (25/5).
Crypto and blockchain companies were highly visible at this year’s gathering of business and political leaders, although market value plummeted in the weeks leading up to WEP, with Terra becoming nearly worthless.
British computer scientist Wood is here for the first time to talk about a new partnership between his blockchain project Polkadot and US billionaire Frank McCourt’s Project Liberty.
“The internet has no real concept of legality, because legality is something that is determined by a sovereign state,” said Wood.
The new partnership aims to decentralize control of the web and give users more control over their data, Wood explained.
“Technology can’t prevent people from making mistakes, but it can help those who want to better understand the facts of the world, what they are buying,” he said.
The 42-year-old man who coined the term Web3 also founded the Web3 Foundation, which supports the reorganization of the web from large companies such as Google owner Alphabet to individual users.
Meanwhile, the price of Ethereum, referring to CoinMarketCap on Wednesday (25/5) at 19:20 WIB, was at US$ 1,945.91, down 1.12% in the last 24 hours. Ethereum is the second largest cryptocurrency after Bitcoin in terms of market cap.