Yeh and it must be done . governance plays an important role in ensuring that the concerns and suggestions of all stakeholders, including investors, are heard and addressed. Eg In the case of a decentralized exchange (DEX) project, governance is very important to ensure security and sustainability. Without proper governance mechanisms, investors may hesitate to participate, leading to a lack of liquidity and growth and not all governance mechanisms are created equal. As you mentioned, some projects may have governance structures that do not adequately address stakeholder needs. This can result in losses and a lack of trust in individual projects in my opinion.
What you say is true, but there are many new crypto everyday as we speak. And what keeps people from investing in your crypto due to its lack of popularity, lack of trust and more.
I think a lot of devs want to create that new crypto just because they want a big chunk of money.
Yes. Lack of Publicity so lack of popularity of one of the factors as OP mentioned but I think this is where it is important for developers to prioritize creating innovative projects with a focus on good governance rather than solely aiming for financial gain so that it will ultimately benefit the project and the industry as a whole including the users.
Good governance in the crypto industry includes transparent decision making process, clear communication channels and accountability mechanisms. It involves the standard development and best practices for privacy, security and protection of data. When investors and users have confidence in the governance of the crypto currency project they are more likely to invest and participate in its ecosystem. Good governance can also help to prevent fraud and other illegal activities in the crypto industry. It would develop more trust among the investors. Good governance is important for the success and growth of the crypto currency industry.
While it is true As you stated above that the price of cryptocurrencies is volatile and unpredictable and for now it is important for governments to step in to recognize the potential benefits that cryptocurrencies can bring to their economies which will ultimately result in proper regulation and governance appropriate, crypto can provide a more secure and efficient means of payment and investment.
This Digital Finance Trend is unstoppable and One more thing from me if possible governments in all other countries should also consider increasing crypto adoption meaning by embracing crypto and working to create an enabling regulatory framework, governments can encourage innovation and encourage investment in the industry, leading to sustainable growth in the long term.
