Luxembourg’s antitrust authority will launch a competition markets study into blockchain technology, according to an announcement on Tuesday, in what could be its first exploration of Web3 economics.
“Given the strong potential of the sector, it is important to ensure that Web3 participants can develop in an efficient and competitive market,” the regulator said in a statement. Competitive market research collects information from companies active in the sector on how a specific market works and can serve as a basis for further enforcement action for antitrust violations, such as abuse of a monopoly position.
The regulator said the study will examine where and how new blockchain-based companies compete with existing Web2 internet companies and document potential anti-competitive practices implemented against Web3 projects.
Thibaut Schrepel, an associate professor at the University of Amsterdam who will help conduct the investigation as an outside expert, said the project could break new ground: “As far as I know, this is the first market study conducted by a regulator with the goal of protecting Web3, not attacking it.” (CoinDesk)
