DAPA, the Digital Asset Policy Alliance, is launching as a collaborative initiative focused on the public policy implications of web3 with initial participants from Fabric Ventures, the web3 venture contributor, Coadec, The Coalition for a Digital Economy, Project Vellir, NEAR Protocol and Unstoppable Finance.
DAPA welcomes other volunteers and will progressively decentralise with ‘community-driven’ at its heart with the upcoming DAPA DAO.
DAPA’s mission is to improve understanding of web3 and crypto technology and ensure that new industry regulation protects consumers and businesses while promoting innovation and adopting this new technology’s transformative benefits.
Decentralisation technology has the potential to transform our society for the better. There has been rapid growth in blockchain technology and consumer demand for web3 applications, attracting policymakers and regulators’ attention, including in the UK, EU and US. The recent market turmoil highlights that the right regulation is needed now more than ever. DAPA says they welcome the opportunity to facilitate this discussion between industry and policymakers.
DAPA’s view is that any future regulation should:
- Ensure that consumers and investors are appropriately protected and that there are sensible provisions to prevent money laundering and tax avoidance;
- Focus on enabling web3 activity and increasing access using appropriate systems and processes, rather than preventing its use;
- Promote and incentivise innovation, in order for new applications of distributed ledger technology to be explored;
- Be simple and provide clarity to users and builders, whilst being flexible enough to respond to new web3 applications;
- Recognise the benefits of privacy, self-sovereignty and the freedom to transact.
The current focus of the alliance’s activities is to deliver a series of papers to better inform policymakers and act as a conduit for input to the numerous initiatives in the space.
