Global Head of Policy and Partner for Andreessen Horowitz, Tomicah Tillemann, believes this year sets the stage for Web3 to become a fully decentralized business model, he says at the B Riley Securities Crypto Conference 2021. "We need regulation in this space" by bringing regulatory regimes into the 21st century that recognize the potential for DeFi platforms, he says. Tillemann also says it's important to unlock the potential of decentralized autonomous organization ("DAOs") along with an efficient regulatory framework. Note that a DAO is an entity with no central leadership, and governed by a community on a blockchain. Like non-fungible tokens in 2021, "2022 is going to be the year of the DAO," he says. Crypto exchange Coinbase (NASDAQ:COIN) and fintech Stripe (STRIP) have recently started to dip their toes in Web3.
