This is my first time attending the Token2049 event. As a Web3 enthusiast (yes, I’ve always felt that this identity suits me best), I have two goals for attending this conference:
1. To experience the atmosphere of Web3 up close. In Web3, the atmosphere is something that is difficult to describe but is particularly emphasized.
2. To understand the cutting-edge topics and narratives being discussed in the industry. This is especially important in a rapidly changing industry.
The main conference of Token2049 took place over two days from April 18th to 19th, but there were various side events, small activities, and parties starting from April 15th. As someone who has worked in Web2 internet companies, the atmosphere of this conference is completely different. Overall, Web3 events are conferences, but they feel more like parties to meet friends. You can listen to speakers sharing their insights at the venue, and you can also find a place to have a drink and chat with people from different countries and regions around the world. Of course, if you have time in the evening, various organizers will host different parties, and you can make new friends just by holding a beer. The casual and free atmosphere permeates throughout the entire Web3 event.
In addition to the casual and free atmosphere, there are a few keywords that can summarize the impressions of Dubai and the discussions at Token2049:
Keyword 1: Heavy Rain
If you are a participant in this industry, you must have seen the news about the rare heavy rain in Dubai on social media or in your circle of friends. On April 16th, Dubai experienced the heaviest single-day rainfall since 1949, with numerous luxury cars submerged in water and the public transport system paralyzed. Dubai has always been known for its luxury and prosperity, but on April 18th, the entire city was still partially or completely shut down. The heavy rain tested the drainage system of this city that gathers human material wealth and exposed the vulnerability of wealthy cities.
If we extend this to the Web3 industry, this heavy rain is also very inspiring:
A sound system needs to consider low-probability risks and be prepared for them, even if the probability of them occurring is very low. For example, when we are working on a DeFi project, do we realize the existence of a low-probability risk, but choose to turn a blind eye to it because of its low probability, holding a lucky mentality?
A sound system should also be prepared for black swan events. We are currently in a bull market, and the overall atmosphere and sentiment are optimistic. However, we need to remain vigilant because in this industry, we cannot determine when and in what way black swan events will occur. Prudent optimism is always better than blind optimism.
Keyword 2: Regulation and Compliance
Regulation and compliance were the most frequently mentioned words I heard during my time in Dubai. The first panel discussion at the main conference on April 18th was about regulation and compliance, where guests such as Binance CEO Richard Teng and Bloq co-founder Matthew Roszak discussed their views on global regulation in the crypto industry. In my conversations with different project teams, I also felt their emphasis on industry regulation and compliance. For project teams, some common concerns include: 1) which countries/regions have friendly regulatory and compliance policies, and 2) how to obtain the corresponding compliance licenses in these countries/regions.
My impression is that there is a consensus in this industry about the need for regulation and compliance, and the differences in discussions mainly lie in the methods and pace of regulation, as regulatory policies vary in different countries and regions.
At the same time, this also made me think about a question: Is there a contradictory relationship between high returns and increasing compliance in this industry? For example, in the early stages of blockchain, due to the lag in regulation and compliance, many projects and individuals made substantial profits. As this industry becomes more standardized, will there still be individuals or projects that can quickly accumulate wealth like before?
Keyword 3: AI
In addition to regulation and compliance, AI was another hot topic I heard during the Token2049 event. At the main conference, guests including the co-founder of Near Protocol, IIIia Polosukhin, and the founder of http://io.net, Ahmad Shadid, discussed the possibilities of combining AI with Web3 in decentralized intelligence. Similarly, in my conversations with projects outside the venue and at parties, about half of them were related to AI, such as AI distributed storage and computing, decentralized GPUs, intent-based AI applications, AI social and creator economy, etc. The popularity of the AI+Web3 narrative is evident.
An interesting finding is that in the past, when discussing mass adoption of Web3, people generally had high hopes for GameFi and SocialFi. But this time, I felt that people believe AI has a greater potential for mass adoption of Web3.
Keyword 4: Influence of the Chinese Community
The Token2049 event was held close to the Hong Kong Web3 Carnival. The comparison between the two events has also become an interesting topic. Through conversations with some Chinese practitioners, I found two common perceptions: 1) The concentration of Chinese participants at the Token2049 event was not as high as at the Hong Kong Carnival (which is understandable, as Dubai is far from the Greater China region); 2) There are differences in the focus of discussions. For example, at the Hong Kong Carnival, there was a high emphasis on Bitcoin ecosystem topics, but at the Token2049 event, the discussion on this topic was relatively less intense.
Everyone is curious, is this like two different worlds?
This question is difficult to answer and cannot be conclusively determined at this time. In my opinion:
From a practical perspective, the Chinese community will definitely have its own discourse system in Web3.
On the one hand, many Chinese project entrepreneurs and investors have strong backgrounds, fluent English, and have studied and worked abroad, possessing a global mindset. At the same time, Chinese people have the gene of “daring to venture,” so I believe that in the next decade, more and more Chinese people will be active on the global stage of technological competition.
On the other hand, there are many Chinese entrepreneurs in the Bitcoin ecosystem, which itself is an effort and proof of building a discourse system.
From a visionary perspective, I believe that the Web3 industry should not be divided by country/region, skin color, or background. This industry emphasizes consensus, and when there is consensus, we are like-minded individuals, without restrictions based on where you come from, your skin color, education/work background, etc. So from this perspective, whether Chinese or non-Chinese, we should weaken the differences in identity. After all, the emergence of new things like Bitcoin itself is breaking the boundaries of traditional sovereign states.
These are the strong impressions I had during my participation in the Token2049 event. It should be noted that these are my personal impressions and may contain subjective judgments, so they do not represent the thoughts of every attendee. Furthermore, there were many other hotly debated topics at the Token2049 event, such as DeFi, RWA, Bitcoin ETFs, and Restaking, which I did not cover in my previous impressions. However, overall, events like Token2049 serve as a compass for the industry’s hot narratives. Regardless of individual subjective perceptions, I believe that attending such conferences can form a collective judgment on industry hotspots and narratives.
Tags:
AI
TOKEN2049
WEB3
Bitcoin
Source link:
https://twitter.com/LiamWang88/status/1781966204594483369
Disclaimer: The views expressed in this article only represent the author’s perspective and do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6631537
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