by Marvin Dumont
Apollo Foundation is building all-in-one privacy currency that combines mainstream crypto features in a private and unregulatable platform. APL users can stay anonymous via private ledger, decentralized exchange, coin mixing, advanced IP masking, and other breakthroughs as well as privacy-focused partnerships.
Too many regulations harm the Web 3.0 economy, lessen innovation, and reduce people’s individual liberties. They’re a hidden tax on blockchain industry: As a government imposes compliance requirements, crypto and blockchain businesses pass extra costs to consumers in form of higher prices.
Regulations make the Web 3.0 marketplace less competitive by erecting barriers to entry (for startups that have less capital) and by bankrupting marginal-performing ventures without giving them a chance to gain mass adoption and profitability. Because fewer Web 3.0 businesses compete with each other, innovation is stunted.
Fewer regulations is a better alternative: Market competition drives lower prices and improves quality of blockchain and crypto products and services. That’s because Web 3.0 businesses must serve the true boss — the customer, and not bureaucrats. An efficient marketplace is self-governing: Mediocre companies eventually go bankrupt anyway, as consumers seek better choices.
In practice, there’s much corruption and profiteering (by bureaucrats and lawmakers) via regulations. They protect special interests (such as traditional banks, payment processors, and wire services) at the expense of innovative (and threatening) startups. The Web 3.0 economy becomes less efficient and distorted.
With quid pro quo, friends unethically (and illegally) offer bribes, political favors, campaign donations, career advancement, sexual favors, and luxury access while suppressing and obfuscating market dynamics by which economic actors are expected to abide by.
We see above effects around the world. Think China, India, Venezuela, Iran, and other nations that prevent wider adoption of programmable monies.
Their citizens are unable to generate wealth from an emerging industry. Their local economies are also slow to adopt innovations that disrupt obsolete ways of doing business. With resistance to (positive) change, they miss the chance to improve transparency, business practices, and payment systems.
Learn more about Apollo Foundation’s privacy mission and tech breakthroughs: