Instead of Slowing Innovation, Regulation May Drive Demand for ReFi
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While the crypto industry at large generally looks forward to policy for clarity on things like what is a security and what isn’t, and also (hopefully( focus on weeding out bad actors like former FTX CEO Sam Bankman-Fried, regulations are seen as a necessary evil. That is, except in climate activist circles. Here, people in crypto are enthusiastic about how policy and regulation could become generative in their ability to accelerate the demand for and use of blockchain solutions.
In the context of the regenerative finance (ReFi) space, which I recently proclaimed would have a real breakout year in 2023, I believe policy and regulation, primarily outside of crypto regulators, will actually be a major stimulant for innovation and adoption of ReFi solutions globally.
Boyd Cohen is CEO and co-founder of Iomob, the developers of WheelCoin, a Move2Earn game that rewards users for moving green. This piece is part of CoinDesk's Policy Week 2023.
In order to explore how policy and regulation could stimulate ReFi adoption, I recently sketched the ReFi Climate Stack as a visual tool to frame the way teams are leveraging crypto rails to advance climate action.
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