Intro
The latest episode of the Frontier podcast tackled an important issue facing the growth of Web3 in Africa - building trust through self-regulation.
With several recent incidents of unethical behavior by some builders breaking trust in Web3's potential, the Frontier team stressed the need for the community to step up. Self-regulation is key to ensuring accountability and integrity as the Web3 space develops.
In this episode of The Frontiers!
The team discussed policy ideas like forming an ethics review board, creating standards, and enacting enforcement mechanisms. Getting incentivization right is also crucial - balancing innovation with guidelines that protect users and investors.
We also dove into the recent $2 million debacle involving the cryptocurrency exchange Patricia. More oversight and security audits could have potentially prevented or mitigated the damage.
Overall, this episode highlighted that now is the time for the Web3 community in Africa to have these conversations. The growth of Web3 rests on users and investors trusting its promise. And trust is built through proactive self-regulation.