As a disruptive platform in the Web3 ecosystem, Day By Day has maintained a firm commitment to establishing clear regulations that serve as a fundamental pillar for the development of the company and the protection of its users. This commitment is due to the current lack of solid regulations in this area. On October 16, the Australian Treasury Department made public its proposed “Regulation of digital asset platforms” and is seeking input from industry leaders. Based on this, we are preparing our own formal proposal and we seek to know the opinion of our community.
The need for clear regulations in the Web3 industry
In its early days, blockchain technology primarily served as the basis for cryptocurrencies. However, its evolution has given rise to a true digital ecosystem that goes far beyond this initial function. The combination of these new digital tools has resulted in a truly disruptive technology: Web3.
When we talk about Web3, we are referring to a concept that embodies the true evolution of the Internet towards new horizons, where users are the epicenter and intermediaries are eliminated. Using Web3 technology, Day By Day is building the first real-world platform for asset protection, a first-of-its-kind use case. We believe our platform can deliver new opportunities and solutions to our customers in Australia.
That is why we are dedicated to complying with regulations, in order to operate according to the highest standards of market transparency. We are excited to be pioneers in technology development in Australia and beyond, and we believe that participating in building regulatory frameworks is an invaluable opportunity to shape the future together with our community.
We celebrate the objective of the Treasury Department’s proposal
Since Web3 technology is here to stay, it is necessary to have norms that allow its development, but without unnecessary limitations. A mature regulatory framework through participatory construction between the different actors in the sector will allow general guidelines to be generated for honest companies and discourage the participation of malicious actors.
In this way, the Treasury Department prepared its proposal to obtain the opinions of active participants in the ecosystem, with the aim of establishing a framework of regulations that serve as a basis for the future of the industry. The proposal also contains provisions for a number of services, such as licensing and financial disclosure requirements for digital asset services, which are critical to Day By Day’s ongoing operations.
We believe that this is very positive for the entire industry, since it gives us the possibility of taking an active part in making decisions that will affect the development of Web3 platforms by hearing our voice.
Building the future together with our community
At Day By Day, we consider our community to be the central pillar of our platform, and it is for this reason that we are interested in knowing their opinion on each relevant issue. We are currently developing our formal proposal to present to the Treasury Department. Therefore, we would like you as users to share your thoughts in the comments.
We believe Day by Day will benefit from having formalized regulatory guidelines, allowing us to attract more clients and operate in a fiscally responsible manner as the leading digital asset platform in Australia, providing full transparency.
We extend a cordial invitation to our entire community to review the full proposal and express their opinions.
To view the proposed “Digital Asset Platform Regulation” from the Australian Treasury Department, click here.
About Day By Day
Day By Day is decentralizing and democratizing the global asset protection industry through Web3. By leveraging emerging technologies, this pioneering platform ushers in a new era of asset protection while delivering hyper-personalized products on demand, safeguarding real-world assets for our clients.
Utilizing Web3 technology, Day By Day has innovatively introduced asset protection contracts through NFTs, offering a compelling real-world use case through tokenization.
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Disclaimer:
This article does not contain financial advice or investment recommendations of any kind, nor should it be considered an invitation to make investments. The information provided is offered solely for educational and didactic purposes about Web3 technology, analysis of its use cases and its application on the Day By Day platform.
Disclaimer:
This article does not contain financial advice or investment recommendations of any kind. The information provided is offered only for educational and didactic purposes regarding Web3 technology and analysis of its use cases.
Investing with cryptocurrencies, NFTs, tokens or other digital assets carry risks and are not regulated, so readers should do their own research before making any type of decision at their own risk, as well as adapt and observe the different legal regulations depending on their country of residence.
Aviso de responsabilidad:
Este artículo no contiene consejos financieros, ni recomendaciones de inversión de ningún tipo. La información brindada se ofrece sólo con fines educativos y didácticos en cuanto a tecnología Web3 y análisis sobre sus casos de uso.
Las inversiones con criptomonedas, NFTs, tokens u otros activos digitales conllevan riesgos y no se encuentran regulados, por lo que los lectores deben realizar su propia investigación antes de tomar cualquier tipo de decisión bajo su entera responsabilidad, así como adaptarse y observar las diferentes regulaciones legales según su país de residencia.