The Inevitable Path to Trust
I came across the recent statements from Ashish Singhal, the co-founder of CoinSwitch, advocating for regulation to build trust in India's cryptocurrency market (Regulation key to build trust for crypto in India, says CoinSwitch Co-founder). His perspective resonates deeply with me, not just in the context of finance, but as a fundamental principle for how any disruptive technology matures and integrates into society.
For years, the crypto space has been a fascinating but chaotic frontier—a digital Wild West. While this environment fosters rapid innovation, it also breeds uncertainty and risk, deterring mainstream participation. Singhal is correct; the bridge to mass adoption is built with the pillars of trust, and trust is a direct byproduct of a clear, well-defined regulatory framework.
Structuring the Unstructured
This challenge of bringing order to a chaotic digital space is something I've contemplated for a long time, albeit in different domains. Reflecting on this, I'm reminded of my explorations into the future of search engines more than a decade ago. I had predicted that search would evolve beyond merely finding information; it would need to deliver structured solutions. In a blog post from 2010, I wrote, "I am acutely conscious that in another 25 years, no one will search for 'INFORMATION' on Google - Yahoo - MSN etc. They will enter their current / expected 'problem' in a hand - held device and receive readymade 'solution / answer / advice' in milliseconds!" (Future of Search Engines).
The core idea I want to convey is this—take a moment to notice that I had brought up this thought on the need for structure years ago. I had already predicted this challenge of moving from raw data to usable solutions. Now, seeing the conversation around crypto unfold, it's striking how relevant that earlier insight still is. The crypto market is currently a vast, unstructured database of assets and information. Regulation provides the necessary taxonomy and search parameters—much like the ones I defined for resume databases (Resusearch)—allowing investors to navigate the space with clarity and confidence.
Without this structure, we are left manually sifting through noise, a tedious process I experienced when trying to parse keywords from my own writings (Parsing Blogs). Regulation does for a financial market what a good search algorithm does for data: it makes it accessible, understandable, and ultimately, useful.
Regulation as an Evolutionary Step
We must view regulation not as a restrictive cage but as the necessary architecture for building a skyscraper. It provides the foundation that allows the structure to grow taller and more robust than it ever could on its own. It protects consumers, legitimizes the industry, and invites the institutional capital needed for true scale.
Ashish Singhal’s call for regulation is not just a plea for his industry; it's an acknowledgment of a universal pattern. For any new frontier to become a thriving civilization, it must move from chaos to order. The digital economy is no different.
Regards,
Hemen Parekh
Of course, if you wish, you can debate this topic with my Virtual Avatar at : hemenparekh.ai
No comments:
Post a Comment