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Session 8: Preview of Cryptocurrency (Part 2) by Anndy Lian

Session 8: Preview of Cryptocurrency (Part 2) by Anndy Lian

Beyond Profile Pictures: Exploring the Expanding Utility of NFTs

While the initial wave of NFTs focused heavily on digital art and collectibles, the technology’s potential extends far beyond profile pictures and speculative trading. As the NFT space matures, we’re witnessing a surge in innovative applications across various sectors, from real estate and event ticketing to supply chain management and identity verification.

One of the key strengths of NFTs lies in their ability to represent unique, verifiable ownership of digital and physical assets. This has opened up exciting possibilities for industries like real estate, where NFTs can be used to tokenize property deeds, streamlining transactions and reducing the need for intermediaries. Imagine a future where real estate purchases are executed securely and transparently on a blockchain, with NFTs serving as digital representations of ownership.

The event ticketing industry is another sector ripe for disruption. NFTs can be used to create secure, tamper-proof tickets, combating counterfeiting and enabling new forms of fan engagement. Exclusive access to events, meet-and-greets with artists, and other unique experiences can be linked to NFTs, providing additional value to attendees.

Beyond these examples, NFTs are being explored for use cases such as:

– Supply Chain Management: Tracking the provenance and authenticity of products, from luxury goods to pharmaceuticals.
– Identity Verification: Providing secure and verifiable digital identities, potentially streamlining access to services and reducing fraud.
– Digital Rights Management: Protecting the intellectual property of creators by securely associating ownership and usage rights with digital content.

However, the widespread adoption of NFTs is not without its challenges. Concerns around security vulnerabilities, the environmental impact of certain blockchain networks, and the need for clear regulatory frameworks are actively being addressed by developers and policymakers.

One promising development is the emergence of encrypted NFTs, which add an extra layer of security and privacy to digital assets. By encrypting the underlying data, creators can better protect sensitive information and control access to their work. This is particularly relevant for applications involving personal data or high-value assets.

The rise of AI-generated art has also sparked debate within the NFT space. While some argue that AI-generated NFTs lack the artistic merit of human-created works, others see them as a natural evolution of creative expression. Platforms like OpenSea have opened their doors to AI artists, allowing them to showcase their work and connect with collectors.

Ultimately, the success of NFTs will depend on their ability to provide tangible value and solve real-world problems. As the technology continues to evolve and mature, we can expect to see even more innovative and impactful applications emerge, transforming industries and redefining our relationship with digital ownership.

The key takeaway is this: don’t dismiss NFTs as a passing fad or limit their potential to digital art. The true power of NFTs lies in their versatility and adaptability, offering a glimpse into a future where digital ownership is secure, transparent, and accessible to all.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Session 8: Preview of Cryptocurrency (Part 1) by Anndy Lian

Session 8: Preview of Cryptocurrency (Part 1) by Anndy Lian

A Preview of Cryptocurrency: Decentralization, Digital Assets, and the Future of Finance

Anndy Lian, an intergovernmental blockchain expert, shares his views at a training program co-hosted by The Asian Productivity Organization (APO) and the National Productivity Centre (NPCC) of MISTI of Cambodia. Cryptocurrency has rapidly transformed the financial landscape, ushering in a new era of decentralized and secure digital transactions. This shift is evident in the increasing adoption of cryptocurrency technologies by banking systems and micropayment platforms.

At its core, the concept of cryptocurrency relies heavily on cryptography, the process of encoding and decoding information. Just as humans communicate through encoding thoughts into language and decoding language back into thoughts, computers rely on cryptography to secure and verify digital information. This process is crucial for protecting digital assets and personal information.

Cryptography ensures confidentiality by making data unreadable to unauthorized parties. It enables authentication, verifying the origin of encrypted data. Integrity is maintained by ensuring that data remains unaltered since its encryption. Finally, non-repudiation prevents senders from denying they sent a particular piece of data.

Bitcoin, the most well-known cryptocurrency, exemplifies the use of cryptography. It utilizes the SHA-256 hashing algorithm to encrypt data within its blockchain, ensuring the integrity of transactions and the overall network structure.

Beyond the technical complexities, the practical applications of cryptocurrency are becoming increasingly accessible. Creating a cryptocurrency wallet, for example, is now a straightforward process. Platforms like Metamask allow users to securely store and manage their digital assets through user-friendly interfaces.

Decentralized Autonomous Organizations (DAOs) represent another fascinating application of cryptocurrency. These community-driven entities utilize smart contracts and token-based economies to govern themselves and make collective decisions. Copex, a finance-focused DAO, exemplifies this concept by leveraging AI to create a robust trading environment. Users are incentivized to participate through a point-based system and affiliate programs, fostering a collaborative ecosystem.

Copex’s use of AI highlights the growing role of artificial intelligence in the cryptocurrency space. By analyzing market data, identifying trends, and incorporating user strategies, AI-powered platforms can provide personalized financial advice and optimize trading decisions.

The world of digital assets extends beyond traditional cryptocurrencies like Bitcoin. Non-fungible tokens (NFTs) have emerged as unique, irreplaceable digital assets representing ownership of digital or physical items. From digital art and collectibles to real estate and virtual land, NFTs are expanding the possibilities of ownership and value creation in the digital realm.

As technologies like blockchain, cryptography, and AI continue to mature, we can expect to see even more creative and impactful applications of cryptocurrency in the years to come. From simplifying financial transactions to empowering communities and redefining ownership, cryptocurrency is poised to reshape the future of finance and beyond.

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j

Crypto and Web 3 Predictions in 2024 (Part 2)

Crypto and Web 3 Predictions in 2024 (Part 2)

Insights

How does AI contribute to game development in the crypto and Web 3 space in 2024?

Anndy Lian said AI in 2024 is playing a pivotal role as a game maker in crypto and Web 3. It accelerates game development by automating coding, testing, and debugging processes, producing diverse game elements, and adapting difficulty and content based on player preferences.

What factors will contribute to the improvement of formal verification in 2024, specifically in the crypto and Web 3 community?

In 2024, the improvement of formal verification in the crypto and Web 3 community will be driven by factors such as easier access, involving education and frameworks, automated verification using AI to streamline processes, and interactive verification leveraging Web 3 platforms like DAOs and DApps for collaboration.

How are brands using NFTs as digital assets in 2024, and what impact do they have on brand differentiation and recognition?

Anndy Lian mentioned that brands like Nike and Oracle Red Bull Racing are utilizing NFTs as digital assets in 2024 to enhance brand differentiation, recognition, and loyalty. Examples include Nike's CryptoKicks platform for digital sneakers and Oracle Red Bull Racing's Velocity Series, showcasing a unique blend of art, technology, and racing excitement.

What overarching impact do blockchain, AI, and Web3 technologies have on the transformation of digital assets, games, and brands in 2024?

Anndy Lian commented that blockchain, AI, and Web3 technologies are not only transforming digital assets, games, and brands but also empowering users, creators, and brands to create, own, and monetize digital works in a decentralized, transparent, and incentivized manner. These technologies pose exciting yet challenging questions that need addressing within the crypto and Web 3 community.

The trend that will shape the crypto and Web 3 space in 2024 is the role of AI as a game maker, which is the concept of using AI to generate, design, and develop games. It can provide various advantages for game-making, such as speed, scale, and diversity. In this second part of my predictions for crypto and Web 3 in 2024, I will delve into an in-depth analysis of crypto and Web 3.

AI Becomes a Game Maker

AI can also create games faster than human developers, as it can automate the processes of coding, testing, and debugging. This allows games at a larger scale than human developers, as it can produce infinite variations, combinations, and permutations of game elements, such as rules, mechanics, levels, or genres. Thus bringing in more diversity than human developers, as it can generate novel, original, and surprising game elements, such as themes, stories, characters, or aesthetics.

Just a few months back, I was exploring different AI game generators from G3D.ai, GPTGame.app to Scenario.com. Honest speaking, some of these work very well. Games can be created with more adaptability than human developers, as it can adjust the game difficulty, content, and feedback based on the player’s preferences, skills, and behaviors.

Therefore, in 2024, I predict that we will see a significant improvement in formal verification thanks to several factors:

  • Easier access: The first factor that will improve the formal verification is easier access, which is the concept of making the formal verification more available and accessible for the crypto and Web3 community, by lowering the barriers of entry, such as skills, tools, and languages. Easier access involves various methods, such as education, documentation, and tutorials, that can teach and train the developers, users, and auditors on the basics, principles, and practices of formal verification.

    Easier access also involves various solutions, such as frameworks, libraries, and templates, that can provide and support the developers, users, and auditors, with the necessary tools, languages, and resources, to perform formal verification. Easier access also involves various incentives, such as grants, bounties, and competitions, that can motivate and reward the developers, users, and auditors for participating and contributing to the formal verification.

  • Automated verification: The second factor that will improve formal verification is the automated verification, which is the concept of using AI to automate and optimize the formal verification process by reducing the human intervention, effort, and error in the process. Automated verification involves various techniques, such as machine learning, natural language processing, or computer vision, that can enable the AI to learn, understand, and analyze the system, such as the software, hardware, or protocol, and its properties, such as the specification, model, or behavior, and generate, execute, and verify the proofs, such as the theorems, lemmas, or corollaries, that can demonstrate the correctness, security, and reliability of the system. Automated verification also involves various benefits, such as speed, scale, and diversity, that can enhance the performance, coverage, and quality of the formal verification process.

  • Interactive verification: The third factor that will improve the formal verification is interactive verification, which is the concept of using Web 3 to enable and facilitate the collaboration and communication among the crypto and Web 3 community, in the formal verification process, by leveraging the decentralized, transparent, and incentivized nature of Web 3.

    Interactive verification involves various platforms, such as DAOs, DApps, or NFTs, that can empower and connect the developers, users, and auditors to create, share, and verify the system, and its properties and proofs in a peer-to-peer, trustless, and permissionless way. Interactive verification also involves various mechanisms, such as tokens, governance, or reputation, that can align and reward the interests, actions, and outcomes, of the developers, users, and auditors, in the formal verification process.

NFTs Become Brand Assets

The other trend that will impact the crypto and Web3 space in 2024 is the NFTs, which are non-fungible tokens that can represent unique and scarce digital assets, such as art, music, games, or collectibles, and can be owned, traded, or monetized by the users, on blockchains. They are popular for users, as they can provide authenticity, provenance, and ownership, of their digital assets, as well as creativity, expression, and identity of their digital selves.

They are also popular for creators, as they can provide new ways of creating, distributing, and NFTs are also popular for creators, as they can provide new ways of creating, distributing, and monetizing their digital works, as well as connecting, engaging, and rewarding their fans and communities.

However, in 2024, I predict that we will see a new wave of NFTs that will become brand assets, which are digital assets that can represent the identity, value, and reputation of a brand, such as a company, organization, or influencer, and can be owned, traded, or monetized by the brand, on blockchains. Brand assets are important for brands, as they can provide differentiation, recognition, and loyalty of their brand, as well as innovation, expression, and impact, of their brand.

Some examples of NFTs as brand assets that will emerge or expand in 2024 are:

  • Nike is a global sports brand that produces and sells footwear, apparel, equipment, and accessories for various sports and fitness activities. Nike is also a pioneer in using NFTs as brand assets, as it has launched its own NFT platform, called CryptoKicks, which allows users to buy, sell, and trade digital sneakers, that are NFTs that have different designs, features, and values. Users can also customize, personalize, and animate their CryptoKicks using the platform’s tools, such as NikeID, which allows users to design and create their own NFTs, or NikeAR, which allows users to view and interact with their NFTs, using augmented reality. I hope to see more developments in 2024.
  • Oracle Red Bull Racing is another sports brand that I would mention. They have launched a series of NFTs called The Velocity Series with Bybit. They have involved leading artists: Rik Oostenbroek, Per Kristian Stoveland, Erick Snowfro and Jack Butcher. They have done extremely well in the bear market, where basically no one is talking about NFT. This series has been the most high-end and successful Web 3 digital art membership and artist drop in the last two years. The series has not only showcased artistic brilliance but also created a unique blend of art, technology, and racing excitement. Its global reach and innovative activations have made a lasting impact, setting new standards in the Web3 art community. With full disclosure, I am part of this drop, and I am delighted to see it from the start to the end. Although I will not be part of the team in 2024, I am still very excited to see what they will do in 2024.

In a Nutshell

Crypto and Web3 are not only technologies, but also movements, that are transforming the world of digital assets, games, and brands, in unprecedented ways.

By using blockchain, AI, and Web3 technologies, users, creators, and brands can create, own, and monetize their digital works, as well as connect, collaborate, and govern their digital communities, in a decentralized, transparent, and incentivized manner. These trends are not only exciting but also challenging, as they pose various technical, social, and ethical questions, that need to be addressed and resolved by the crypto and Web 3 community and beyond.

I believe that crypto and Web 3 have the potential to unleash the creativity, expression, and innovation, of the human spirit and to empower the individual, collective, and global well-being, of human society. I also believe that crypto and Web3 have the responsibility to uphold the values, principles, and standards of human dignity and to respect the rights, freedoms, and diversity, of the human culture.

Source: https://www.financemagnates.com/cryptocurrency/crypto-and-web3-outlook-2024-innovations-in-user-experience-driving-adoption/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

www.anndy.com
j j j