Gavin Wood's advice to crypto investors
After a market meltdown that wiped away more than $800 billion in value, British computer scientist Wood believes that crypto investors should be more mindful of what is underpinning their holdings.During the World Economic Forum in the Swiss Alpine resort of Davos, the 42-year-old expressed his hope to Reuters that "people pay more attention to what is belying the currency name when they get involved in a community, ecosystem, economy." He went on to add:
"The technology cannot prevent people from making mistakes but can help those who want to understand better the facts of the world, what they're buying."Interestingly, Wood coined the term Web3 and founded the Web3 Foundation in 2017. It aims to reorganize the web away from big companies like Google to individual users by nurturing innovations and applications in decentralized web software protocols.
Polkadot's partnership with Project Liberty
Despite the ongoing market plummeting in price, crypto companies have been a source of attraction at this year's meeting of prominent market players and political leaders. Wood is attending the event for the first time to discuss a new collaboration of Polkadot with American billionaire Frank McCourt's Project Liberty. The new partnership decentralizes the web's control and gives users more governance power over their data.Commenting on the regulatory involvement in the crypto industry, Wood stated:
"The internet has no real concept of legality because legality is something that is determined by sovereign nations."
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