Motti Peer

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The crypto industry might gain traction and win consumer confidence more quickly by learning some do’s (and don’ts)  from traditional markets. There’s an old saying that many of us live by, whether consciously or not: better the devil you know than the devil you don’t. While the stock market and traditional investment tools carry many of the same risks as cryptocurrency and decentralized finance, they’re familiar to investors, there are thousands of industry experts and financial firms, and there are uncounted digital media and print resources to help guide both newcomers and seasoned traders. While leaning into the unique benefits and potential of crypto, it may be wise for cryptocurrency exchanges and platforms to look to traditional markets to gain insights on managing risk and boosting investor confidence. Below, 11 members of Cointelegraph Innovation Circle share lessons crypto exchanges can learn from traditional markets and finance.

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The inroads crypto has already made as not only an acceptable, but a desirable, form of payment are likely to continue to expand. In July 2022, digital asset firm Bakkt published the results of a survey on gig workers and crypto. The firm found that 38% of the freelancers who responded were open to receiving full payment for services in crypto, and 50% were willing to receive partial payment in crypto. Further, 20% of respondents have already received crypto payments for services.  Today’s gig workers are highly likely to be tech-savvy, so it’s not surprising that many are already familiar and comfortable with crypto. As more full- and part-time workers learn about crypto’s ease of use and profitability potential, the push for receiving some or all salary payments in crypto may begin to quickly grow. In a competitive marketplace, companies should at least be willing to research the idea of paying workers in crypto. Below, 11 members of Cointelegraph Innovation Circle share important things companies should know about paying their workers with crypto.

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As part of an untraditional industry, crypto companies may need untraditional strategies to build loyal, talented teams. Across industries, companies are struggling to find and retain talent. In highly specialized tech companies, that struggle is even more difficult and requires real tenacity. And in highly specialized tech companies in the emerging crypto space, leaders need tenacity, creativity and, possibly, a willingness to reinvent the wheel. While the “newness” of the crypto space and the technology that fuels it may currently prove an obstacle for crypto companies on the hunt for talent, its potential and vision, and its pioneers’ willingness to challenge traditional boundaries, can be a game-changing asset in attracting those looking to make a difference in a changing world. Here, 16 members of Cointelegraph Innovation Circle share tips to help leaders of crypto and Web3 companies find the bright — and the right —  talent they’re looking for.

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In July 2022, the Law Commission of England and Wales published a set of proposals aimed at protecting purchasers of digital assets like nonfungible tokens and cryptocurrencies. Citing the rapid growth in ownership and trading of NFTs and cryptocurrencies, the commission worked with legal experts, technologists and crypto users to develop a set of recommendations that includes the creation of a new, unique category of personal property for digital assets and clarifications to existing laws around ownership, control and transfer of digital assets. The goal, the commission says, is to “deliver wider recognition and legal protections for digital assets, allowing a more diverse range of people, groups and companies to interact online and benefit from them.”  Most crypto leaders agree that the industry needs more regulatory oversight to grow, and many view this move by the U.K. as a step in the right direction. However, it’s wise for participants in the crypto community to educate themselves not only on the new proposals but also on being responsible crypto owners, because it may be some time before digital assets enjoy full de facto legal protection. Here, eight members of Cointelegraph Innovation Circle share important things the crypto community needs to keep in mind, even as the U.K. starts to turn attention toward better protecting consumers’ crypto assets.