Web3 and stablecoins have the power to transform finance and venture capital. Therefore, these topics were the focus of Adjuvo’s exclusive event on 21st May at The Library at One Aldwych, where members gathered to hear Graham Cooke, a leading technology entrepreneur, share his expertise. The keynote explored the evolution of the internet into Web3, the growth of stablecoins, and their impact on the future of multiple industries.

The Evolution of the Internet and Finance

Graham Cooke began by reflecting on the early days of the internet. As one of the earliest employees at Google, Graham drew from his first-hand experience working at the forefront of innovation as technology began to disrupt traditional offline communication, advertising and knowledge-sharing protocols. His commentary described how SMTP and HTML enabled the first online businesses and defined 'Web1'. Subsequently, social platforms that connected people and made digital experiences widely available defined 'Web2'. As a result, the internet became more interactive and accessible to everyone.

"My entire career has been spent in technology and building products that are disrupting existing markets."

Today, a new era is emerging as decentralised technologies such as blockchain, Bitcoin, and Ethereum are changing how value moves online. According to Cooke, these advances are not just technical milestones, they also open new opportunities in finance and investment.

Stablecoins in Web3: The Next Frontier?

Stablecoins featured prominently in the evening’s discussion as Cooke described them as the “HTML or iPhone of Web3.” In his view, stablecoins make blockchain technology practical and accessible for many users. Unlike other cryptocurrencies, stablecoins are linked to real-world assets such as US dollars and government bonds, thereby providing increased stability and trust. Furthermore, stablecoins are gaining traction beyond the crypto community.

"Stablecoins are the HTML of Web3, or the iPhone of Web3. A stablecoin is a currency-backed token that sits on a blockchain."

Cooke shared some prominent data to highlight their growth:

"Today, $247 billion is now in stablecoins and it’s grown 63% year-on-year, so this is rapidly finding product market fit."

In addition, the transaction volume of stablecoins now exceeds that of Mastercard and Visa combined, demonstrating their increasing prevalence in the financial world. For example, more businesses are beginning to accept stablecoins for payments. Stripe, the global payment platform, has recently aquired Bridge, which handles regulatory compliance and stablecoin infrastructure. As a result, businesses will be able to move, store and pay with cryptocurrency with only a few lines of code.

Web3, Stablecoins, and Regulation

Regulation and transparency are vital topics for stablecoins. Cooke compared different cryptocurrency models during his talk as he pointed out that fully audited and regulated stablecoins offer increased security for investors. In contrast, stablecoins that have been backed by algorithms have traditionally carried higher risks. Recent failures in this area have shown the need for strong backing by real assets.

Regulatory frameworks are evolving rapidly. In the United States, the GENIUS Act aims to provide legal clarity for the issuance and use of payment stablecoins. It proposes that stablecoins which do not offer yield or interest to holders may avoid classification as securities, a designation that could otherwise impose compliance requirements and limit their practical use as payment tools. Meanwhile, Europe’s MiCA framework sets standards for custody, asset backing and transparency. Together, these these developments signal a shift toward fostering responsible innovation while maintaining investor protections.

Implications for Venture Capital

Cooke’s insights highlighted how digital innovation is reshaping the venture capital landscape, as businesses evolve to meet the demands of a rapidly transforming digital era. Attendees came away with a clearer understanding of the trends shaping the future.

"What will start happening is programmable capital, where stablecoins live on open networks and technology and computing can write the rules for how they operate. The foundations of these systems will end up working with AI."

Conclusion

The event finished with a lively Q&A session where members evaluated the impact of digital transformation on their own investment strategies. At Adjuvo, we hope that Graham Cooke’s talk gave everyone a timely and accessible overview of how innovation is changing finance and venture capital.

Overall, the evening was both informative and inspiring. If you would like to learn more about upcoming Adjuvo events or access further thought leadership, please contact us.

Graham Cooke is a visionary leader in AI and Web3. He founded Qubit, revolutionising e-commerce with first-to-market AI personalisation, and led its acquisition by Coveo. He is a former Google innovator behind AdWords and Google Analytics initiatives. Now, he is a leading Web3 strategist and author of Web3: The End of Business as Usual. In 2024, he launched Brava Labs, a stablecoin management platform built for institutional investors. Brava works with tier one service providers to simplify and optimise stablecoin yield strategies. The company works to bridge the gap between traditional capital allocators and the next generation of programmable financial infrastructure. For further details about Graham Cooke’s experience and current projects, visit his official author page.