The Luxembourg competition authority is opening a market study into blockchain technology, according to a Tuesday announcement. The study potentially represents the first probe of its kind into the economics of Web3. The government of the European Union member – which is a significant financial center despite its small size – has said it sees the technology underpinning crypto as key to the digital and environmental transition. Competition market studies collect information from companies active in the sector about how a particular market works. This study will examine where and how newer blockchain-based companies compete with existing Web2 internet companies.
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