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AAAI 2023 Inaugural Summer Symposium: Financial Innovation in the Age of Web3

AAAI 2023 Inaugural Summer Symposium: Financial Innovation in the Age of Web3

In the dynamic world of technology, two key elements have emerged as driving forces of transformation: Web3 and Artificial Intelligence (AI). Web3, the decentralized web, and AI, the power of smart machines, have the potential to reshape the landscape of financial innovation. AAAI 2023 Inaugural Summer Symposium explores the opportunities and challenges presented by these cutting-edge technologies in the financial sector. The panel titled “Financial Innovation in the Age of Web3” is moderated by Prof. Feida Zhu (SMU) and with the panel of experts: Haidong Chen (Alibaba Cloud Intelligence), Wilson Wu (Ava Labs), Martha Zhang (StarryNift), Thomas Yu (KNN3) and Anndy Lian (Bybit).

Web3: Beyond Web2

Feida started the panel by setting the tone “The biggest change we have right now is the removal of the intermediary with web3 and decentralized finance happening.”

Web3 represents a paradigm shift from the traditional centralized Web2. It eliminates intermediaries, empowering users with direct control over their assets and data. The transition to Web3 allows for seamless and efficient peer-to-peer transactions, enhancing financial services. Notable developments in this domain include decentralized finance (DeFi), which offers exciting prospects for lending and growing assets without intermediaries.

The interoperability of Web3 opens the door to groundbreaking collaborations across various applications, resulting in a more integrated and user-centric experience. From social graphs to gamified experiences, the potential for value generation and asset utilization is vast. Web3 is not confined to crypto enthusiasts; even traditional financial institutions are incorporating elements of Web3 into their systems, bridging the gap between the two worlds.

Haidong raised a good point “The challenge is achieving mass adoption and integrating traditional financial systems with Web3.”. Mass adoption of Web3 remains a challenge. The convergence of Web2 and Web3, along with existing regulatory systems, calls for careful navigation. Striking a balance between old and new money while ensuring cybersecurity in a world where automated machine-generated content poses risks requires thoughtful consideration.

AI: The Game-Changer

The rise of AI has been nothing short of transformative. Its efficiency and automation capabilities have reshaped industries across the board. In the context of financial innovation, AI offers significant security and content generation opportunities. Machine learning algorithms can efficiently analyze vast amounts of data, enabling improved risk management and compliance.
Wilson added: “The challenge is to ensure security, compliance, and risk management in a world where machine-generated content and cyber attacks are prevalent.” For instance, AI-driven content generation could lead to abundant valuable information. On the flip side, it raises concerns about potential misinformation and its impact on cybersecurity. With AI-generated attacks becoming a real possibility, safeguarding against cyber threats becomes more critical.

Anndy agreed and expanded on the point “AI and Web3 can work hand-in-hand to revolutionize financial services. AI-powered language models can simplify programming on blockchain platforms like Web3, enhancing app development and security. By combining the strengths of both technologies, financial services can be streamlined and made more accessible.”

Navigating the Future

The fusion of Web3 and AI promises a bright future for financial innovation. Embracing decentralization, enhancing security measures, and ensuring seamless interoperability is key to harnessing the full potential of Web3. Meanwhile, leveraging AI’s efficiency while being cautious about potential pitfalls will drive better financial solutions.

In conclusion, the convergence of Web3 and AI holds immense promise for reshaping financial services in the age of innovation. As these technologies continue to evolve, financial institutions, businesses, and individuals must adapt to a new era of possibilities. By embracing these advancements thoughtfully and responsibly, we can unlock a future filled with endless opportunities for growth and prosperity.

The panel was held on 18 July 2023. Hosted by Singapore Management University (SMU) and co-hosted by Moledao.

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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”.

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Think Bigger In The Next NFT Summer – Anndy Lian at NFT NYC 2023

Think Bigger In The Next NFT Summer – Anndy Lian at NFT NYC 2023

In the realm of NFTs (non-fungible tokens), it is crucial to think beyond mere speculation and embrace a more sustainable and innovative approach. Anndy Lian delves into the transformative power of NFTs and highlights the paradigm shift being witnessed in the industry. As big brands increasingly recognize the immense opportunities presented by NFTs, it is essential for crypto natives to think even bigger and contribute to the growth and long-term viability of this emerging sector.

Thinking Beyond Speculation:
While NFTs have garnered attention for their speculative nature, moving away from the short-term mindset and considering their broader implications is vital. Currently, the focus is on the price and potential financial gains of NFTs. However, NFTs should be viewed as a technology that can address specific needs and create new possibilities to truly unlock their value.

Leveraging the Power of Big Brands:
Prominent brands such as Gucci, Porsche, Starbucks, Amazon, and Red Bull have embraced NFTs as an opportunity to enhance engagement with their communities and promote the adoption of Web3 technology. These forward-thinking brands are not merely selling NFTs for quick profits but are instead investing in the future. By leveraging their influence and credibility, they are elevating the crypto industry and driving mainstream acceptance.

The Lessons from Tech Visionaries:
Historically, visionaries like Bill Gates and Jack Ma have foreseen the transformative potential of emerging technologies. Although initially met with skepticism, their predictions about the internet and e-commerce have become a reality. Similarly, the integration of NFTs into the strategies of major brands today signifies a shift towards a future where NFTs serve a purpose beyond speculation.

Seizing Opportunities for Growth:
Crypto natives must not lag behind in this rapidly evolving landscape. It is imperative to think bigger, demonstrate sustainability, and exhibit the true potential of NFTs. By showcasing the value and utility of NFTs, both in the Web3 and Web2 domains, crypto natives can prove their commitment to driving lasting change.

Embracing Innovation:
NFTs possess the power to transform various sectors, ranging from art and collectibles to membership programs and decentralized finance. However, it is crucial not to saturate the market by applying NFTs indiscriminately. Instead, identifying the inherent value in each asset and creating meaningful connections between the physical and digital realms will pave the way for a prosperous future.

Digital Assets as Catalysts for Change:
In the quest for a sustainable and interconnected world, NFTs emerge as revolutionary digital assets. By embracing this paradigm shift collectively, we have the potential to reshape industries, challenge traditional notions of value, and make a positive impact on a global scale. The journey towards a fully integrated Web3 experience may take time, but the transformation will be significant.

Conclusion:
As NFTs evolve beyond speculation and embrace a more sustainable approach, the importance of forward-thinking individuals and communities cannot be overstated. By thinking big and aligning with the vision of major brands, crypto natives can contribute to the growth and long-term success of NFTs. The future holds tremendous potential for innovative use cases and the integration of Web3 technology, and it is up to us to seize this opportunity and drive change. Together, we can revolutionize industries and establish NFTs as a catalyst for a more interconnected and prosperous future.

Anndy Lian is an intergovernmental blockchain expert. His recent book- NFT: From Zero to Hero, highlighted the core application of NFT technologies.

NFT NYC 2023 is one of the most highly anticipated events in the NFT space. With over 6,000 attendees, 1,500 speakers, and 500 brands, the conference provided a space for people to connect, debate, and learn

The original source of the video is from NFT.NYC official youtube channel: https://youtu.be/B00bpG_ovl4.

Anndy has also written a full article on how he sees big brands integrating with web3 at this link: https://cryptoslate.com/nfts-and-big-brands-exploring-new-possibilities/

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LinkedIn: https://www.linkedin.com/in/anndylian/
Homepage: http://www.anndy.com
YouTube: https://www.youtube.com/@AnndyLian

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
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Anndy Lian’s NFT NYC Speech: Think Bigger in the Next NFT Summer

Anndy Lian’s NFT NYC Speech: Think Bigger in the Next NFT Summer

Best selling book author, Anndy Lian gave his speech titled “Think Bigger In the next NFT Summer” at NFT.NYC 2023.

The concept of NFTs (Non-Fungible Tokens) has been in existence for some time now. However, while it has gained considerable popularity, it has also raised concerns amongst some people. Many individuals have developed a negative perception of NFTs due to the hype surrounding them. There have also been instances of NFT wash trades, which are used to inflate NFT prices artificially. Additionally, some NFTs have no practical use, and some are regarded as securities, which is a regulatory issue.

Despite this, the NFT craze is far from over, and it could be just the beginning of a new era. Big names like Gucci, Porsche, Starbucks, Amazon, and Red Bull Racing have started investing in NFTs, which suggests that the market is gaining traction and legitimacy. This year could be the last NFT summer where people only see NFTs as a speculative asset.

In 1999, Bill Gates predicted that everything would be on the internet. Jack Ma did the same in China, but people thought it was impossible. Now, we are living in a world where the internet is an integral part of our daily lives. If we continue to use our current mindset to envision the future, we risk being left behind, just like those who laughed at the internet in its early days.

We need to broaden our minds and start thinking beyond the current limitations of NFTs. NFTs can be used for anything, from digital art and music to virtual real estate and gaming items. The possibilities are endless, and the new assets are in the digital world. Crypto natives need to think bigger and explore the true potential of NFTs.

Although we currently view NFTs as speculative, we must start using them in the future we create. Big brands have recognized this and are willing to invest in the technology. It is time for us to move past the current hype and start creating and exploring the digital world that awaits us.

In conclusion, the next NFT summer will not be about speculating on assets but rather about creating and using them. NFTs represent the future, and it is time for us to start thinking beyond our current limitations and explore their full potential. The possibilities are endless, and anything can be an NFT. Let us embrace this technology and start creating a better digital world.

NFT NYC is a yearly event dedicated to NFTs and blockchain technology, which has quickly become a major focus of the art and collectibles world. This immersive conference and festival attracts a wide variety of participants, including industry leaders, artists, collectors, and enthusiasts, who come together to explore the possibilities of NFTs. Attendees can learn about the latest trends, technologies, and best practices related to NFTs.

Timeline:

00:00 Introduction of Anndy Lian’s vlog at New York
00:19 Anndy Lian gets his VIP Speaker badge to NFT.NYC Conference
00:30 Walking into NFT.NYC Conference area
00:59 Visting the art gallery at NFT.NYC
01:13 Introduction of the First Speaker, Anndy Lian
01:47 Anndy Lian’s Introduction
02:05 Anndy Lian’s Talk on “Thinking Bigger in the Next NFT Summer”
04:01 Anndy Lian’s Discussion on NFTs and their Current State
04:52 Anndy Lian’s Thoughts on NFTs in the Upcoming Summer and the Participation of Big Brands
08:57 Anndy urges all to think bigger in the next NFT Summer
10:19 Conclusion to Anndy Lian’s speech is “Anything can be NFT. Your new assets is in the digital world.”
11:50 End of Anndy’s speech
11:55 Continue to look at the exhibitions and network
12:42 End of video

Tags:

#NFTs, #ThinkBigger, #AnndyLian, #NFTNYC, #DigitalAssets, #BlockchainTechnology, #CryptoNatives, #VirtualRealEstate, #GamingItems, #ArtandMusic, #EndlessPossibilities
#CreateTheFuture, #BeyondLimitations, #InvestInTechnology, #BetterDigitalWorld, #NFT, #newyork

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