How Blockchain Technology Can Promote Greater Accountability Online
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After a dramatic dive last week, the stock market is still in recovery mode, with Wednesday seeing the worst one-day losses on Wall Street since June 2020. Last week, the Nasdaq also declined 3.8%, falling for a seventh straight week and the longest losing streak for the tech-heavy index in 21 years. Tech companies haven't seen a severe selloff since 2001, when the dot-com bubble burst.
Inflation, rising interest rates, the war in Ukraine, and pandemic lockdowns in China are the underlying contributions to such an unstable market. It's been stressful for investors in technology and growth stocks, especially following such historic rallies in recent years.
The current market needs more investors, but as is typical in bear markets, many are risk-averse and unconfident in the future market conditions, spooked about losing money in an already volatile market and their return on investment.
In addition to a very volatile market, the current risk of entering the market includes exposure to hackers and rug pulls—and with so few regulations currently in place, little accountability.
What the market needs at the moment is an incentive for investors to enter the market again. But instead of persuading investors to buy the dip, a cryptocurrency needs to become a safer investment class to become a more attractive investment.
To do this, the cryptocurrency market needs to be more regulated. Experienced crypto traders will feel more inclined to buy by making the asset class a safer investment. Still, it will also attract non-crypto and institutional investors who have been wary about investing due to how unregulated it's been until
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