Moody's, a Wall Street credit rating agency, has released its first report on the DePIN industry, stating that the sector has the potential to aid in the expansion and innovation of existing networks, but several risk factors, including regulatory uncertainty, could hinder growth. The authors of the report stated: "By connecting the established parts of the system backbone with the building blocks of distributed ledger technology (DLT), DePIN has the potential to enhance network reliability and efficiency, while reducing operational costs, optimizing resources, and facilitating industry collaboration." They added: "However, there are significant barriers to the widespread adoption of this technology, including regulatory and interoperability issues, cybersecurity risks, and the need for substantial investment in infrastructure and skills." Existing network operators, such as telecommunications companies, utilities, and transportation companies, are facing increasing user demands that require capital-intensive infrastructure development. The report added that leveraging decentralized models can help them alleviate some of the pressure and remain relevant as AI and IoT disrupt old business models. (CoinDesk)