Empower communities and shape the future of crypto
Global digital migration is significantly impacting society, with internet penetration at 67.5% worldwide and 93.1% in the EU. The evolution towards Web3 presents both opportunities and challenges, particularly concerning the power imbalance between creators and consumers. In 2023, $5.6 billion was lost to cryptocurrency scams in the U.S., highlighting the concentration of power among a few creators. To address this, decentralized governance tools are needed to empower communities and facilitate collective decision-making. Memecoins, while often lacking utility, can serve as community-driven tools if developed with decentralized autonomous organizations (DAOs) that allow coin holders to govern collectively. DAOs are transforming decentralized finance, exemplified by Uniswap DAO's treasury management. The potential of Web3 to redefine finance and governance must be protected from exploitation by malicious actors, emphasizing the need for community-focused infrastructures.
