Many investors are excited about the potential for blockchain to dominate Web3 as the infrastructure of the new Internet. To increase trust in cryptocurrencies, it is crucial to have support from the best experts in finance and FinTech.
Investors usually join blockchain projects that offer advantages that the traditional Internet does not have. They believe they must plan to own a cryptocurrency for ten years to avoid losing it in 10 minutes.
There is potential for blockchain technology to dominate Web3 as the infrastructure of the new Internet excites many investors. However, investing in unknown cryptocurrency projects whose advantages are not clear might lead to losing a lot of money.
The cryptocurrency industry has a public relations (PR) problem, which has kept many investors from entering the market. The solution to that situation is crucial to increase confidence in new and well-established projects in the market.
Bitcoin (BTC) has made huge promises since its beginning in 2008, which it has not fulfilled. Satoshi said it should work as a currency, but its intrinsic value turned out to be a hedge against inflation. Inflation has skyrocketed to 8.3% in the US and 9.9% in the UK, which should have made Bitcoin in a bad mood.
The pioneering cryptocurrency does not have a monopoly on false promises. On the contrary, non-fungible tokens (NFTs) should have transformed the way of exchanging property but became a cash grab of hyped JPEGs.
Public Relations Professionals May Help the Cryptocurrency Gain Trust
Web3 needs to sell what it is building, starting with having a public relations professional. Journalists dislike exaggerations about the value of a story, which they will make public. The idea is to communicate the actual advantages of a product objectively, not what it might offer.
Warren Buffett and Jamie Dimons believe that many cryptocurrency investors are selling their holdings off. That is bad news for the industry, as a PR professionals should tell their clients that having those will bring them better results. If that experiment succeeds, support from the best experts in finance and FinTech, as well as personalities like Elon Musk, is crucial.
Regulations Play a Crucial Role in the Public Relations of a Company
Many investors have lost billions in bankruptcy, including the most legitimate companies in the crypto space. Among them are Celsius and Three Arrows Capital (3AC), to which increasingly few companies may join in the short and long term.
There might be less opposition to regulation, a crucial factor in the public relations of the industry. It is hard to improve the image of a company not adhering to the rules or regulations traditionally governing corporate affairs.
Employees may steal money from the coffers of a company and make side deals with competitors. That is happening in the cryptocurrency industry now, considering the poor enforcement of finance-related rules and regulations and misleading advertising.
By Alexander Salazar