"Securities" Podcast: Web3 is so far behind in terms of reliability and security
Fourteen years after the release of the Bitcoin white paper, Web3 and crypto are transitioning into adolescence. Technologies and communities that have collectively been a financial Wild West are slowly but inexorably transforming into mainstream infrastructure powering payments, finance, banking, and even identity and data storage. That transition though is hampered by a data and security stack that remains, let’s just say, well below the norms expected for modern software (which itself is below the expectations for data protection that consumers actually demand).
The gap between the visions of a secure Web3 future and today’s current technology is the opportunity to propel crypto through its awkward teen years.
I wanted to talk more about where Web3 infrastructure is headed, and so I asked my Lux Capital partner Grace Isford as well as Ann Jaskiw, founder and CEO of crypto accounting platform Tactic, to walk through today’s looming clouds in crypto regulations and why the future is about to get a whole lot brighter.
We discuss Grace’s investment in Tactic and how Ann migrated from building secure healthcare technologies to figuring out accounting for the crypto world. We then talk about the Web3 infrastructure stack and its pockmarked reliability, The Merge’s effect on Ethereum’s future and Vitalik Buterin’s leadership role in the energy-saving transition, international dimensions of crypto security, as well as how the SEC is pivoting toward crypto regulation and why crypto founders are increasingly pro-regulation.