16 ways crypto leaders can help bridge the gap between Web3 and TradFi

cointelegraph.com:

When it comes to traditional finance, crypto and blockchain leaders are faced with something of a disconnect. TradFi firms are in one sense competition, but unless TradFi comes to embrace Web3, Web3 can’t reach its full potential. Complicating efforts to reach out to TradFi are mutual feelings of uncertainty: Crypto and blockchain pioneers fear that TradFi’s influence may weaken the consumer- and transparency-first commitment industry enthusiasts value, while TradFi firms are wary of a new industry whose technology and guidelines they don’t understand.

With its long history, traditional finance is familiar to consumers and has earned widespread trust. By partnering with TradFi firms, Web3 organizations could accrue some of that positive feeling. Further, by viewing TradFi as a potential customer base, Web3 firms could begin to grow organically. From “ceasing hostilities” to spreading a wider net, there are many things crypto and blockchain leaders can do to bridge the gap between Web3 and TradFi. Below, 16 members of Cointelegraph Innovation Circle share their ideas.   

I frequently see those in the traditional finance industry opposing Web3 infrastructure and innovation, and vice versa. I believe that we need to adopt the mindset that there is room for all of us to build together. There is no perfect Web3 or traditional financial product that will serve every use case. Industrywide disruption happens as we build out this emerging ecosystem together. – Megan Nyvold, BingX

There’s too much of an “us versus them” narrative when it comes to Web3 and traditional finance. In reality, they’ll have to work together to meet the demands of customers in the 21st century. Crypto leaders can solve this by working together with fintechs