Fortune 500 companies see blockchain and web3 as critical to survival and growth

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 78%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Fortune 500 companies see blockchain and web3 as critical to survival and growth Fortune500 Fortune100 Coinbase

- Coinbase, the largest crypto exchange in the U.S., has released a new report on blockchain adoption by corporations that found that 52% of Fortune 100 companies have pursued crypto, blockchain or web3 initiatives since the start of 2020.

“These companies, among the world’s largest and best known, are innovating and investing in these technologies because they know that our century-old global financial system needs updating, that blockchain can be a foundational solution, and that not keeping pace will mean losing ground in this global economy to competitors around the world, among other reasons,” Coinbase said.

The biggest barrier to investment and adoption is a lack of clear rules for crypto, blockchain and web3, and the lack of regulatory clarity is also being perceived as a challenge to U.S. leadership of the global financial system. In just the last six years, the U.S. went from contributing 40% of the development of web3 to 29% currently, which Coinbase said has forfeited “influence over global financial and data standards to other countries,” and has pushed innovation and investment overseas.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold will reach $3k in market ‘melt up' with S&P 500 up at least 36% by Q4 2023 - David Hunter
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »