Tag Archives: vision

Bybit Talks — Anndy Lian’s Vision for Web3

Bybit Talks — Anndy Lian’s Vision for Web3

The AAAI 2023 Inaugural Summer Symposium served as a dynamic platform for industry experts to converge and explore the horizon of technological transformation. Against this backdrop, Anndy Lian’s thought-provoking perspective resonated, shedding light on the intricate challenges and promising potential that Web3 brings to the forefront. Lian’s incisive quote, “Revenue is one of the factors that is really stopping Web2 companies from fully embracing Web3. The other factor is governance,” sparked profound discussions that unveiled the transformative journey ahead.

 

Revenue Challenge: Web2’s Dilemma in Embracing Web3

Web2 companies have long thrived on advertising and traditional revenue models. Lian’s observations poignantly highlight the clash between these models and the decentralized nature of Web3. The uncertainty surrounding revenue generation in a decentralized ecosystem poses a significant obstacle for companies looking to transition. But rather than dwelling on the hurdles, it would be more productive for Web2 companies to consider the solutions. By incorporating blockchain-based systems, tokenization, and NFTs, companies can not only find reliable sources of revenue, but also ensure that profits are tied to the overall growth and success of the community.

 

Governance: Web2’s Centralization vs. Web3’s Decentralization

Governance, a cornerstone of the Web3 narrative, surfaces as another pivotal aspect. Lian’s acknowledgment of the evolution from Web2’s centralized decision-making to the decentralized ethos of Web3 resonates strongly. He strikes a chord by noting the current discrepancies between ideals and implementation. Yet, Lian offers a visionary outlook by introducing the concept of Web4, a realm guided by a fusion of blockchain consensus and AI. This harmonious blend could bridge the gap and accelerate the transition towards true decentralized governance.

In conclusion, while the journey from Web2 to Web3 may present challenges, the potential rewards are immense. The decentralized ethos of Web3 empowers users, fosters innovation, and creates an environment where creativity and collaboration flourish. The revenue and governance challenges that Web2 companies face are not insurmountable roadblocks, but rather opportunities to redefine how businesses interact with their users and communities. As we collectively work toward a Web3 future, we must recognize that the current challenges are stepping stones to a more decentralized, inclusive, and prosperous digital world.

 

Source: https://blog.bybit.com/en-US/post/bybit-talks-anndy-lian-s-vision-for-web3-bltb37b72da181991f5/

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

Web4, a vision of an intelligent, decentralised web

Web4, a vision of an intelligent, decentralised web

AI and the Symbiotic Web are key technologies that will drive the development of Web4, the next generation of the World Wide Web

Web4, also known as Web 4.0, is a term used to describe the next generation of the World Wide Web. It is a vision of an intelligent, decentralised web that is more secure, private, and equitable than the current web.

Web4 is built on the following key principles:

  • Decentralisation: power and decision-making are distributed among multiple participants rather than being centralised with a few large tech companies.
  • Interoperability: devices and services can work together seamlessly, regardless of their underlying technology.
  • Self-sovereignty: users have control over their data and identities and are able to use them across different services without the need for a central authority.
  • Privacy: users’ data is protected and kept private, rather than being collected and sold by companies.
  • Transparency: users are aware of how their data is being used and have the ability to control it.

Web4 aims to provide a more secure and private web, where users have more control over their data and how it’s used. It also aims to create a more equitable web, where access to information and services is not limited by wealth or location.

Web4 is still a concept, and many experts believe that it is still in the development stage. Some of the technologies that are being developed to make Web4 a reality include blockchain, peer-to-peer networks, and decentralised AI.

The Symbiotic Web

The Symbiotic Web is a concept that envisions a decentralised and distributed web where users have more control over their data and privacy. The idea is to create a web where users can share their data with other users or services in a secure and mutually beneficial way rather than having their data controlled by a central authority.

The Symbiotic Web is based on the idea of a web of relationships between users, devices, and services, where each participant has their own autonomy and agency. The goal of the Symbiotic Web is to create a web that is more resilient, secure, and fair for everyone by giving users more control over their data and how it is used.

The Symbiotic Web is built on several key principles, including:

  • Decentralisation: power and decision-making are distributed among multiple participants
  • Interoperability: devices and services can work together seamlessly
  • Self-sovereignty: users have control over their data and identities
  • Privacy: users’ data is protected and kept private
  • Transparency: users are aware of how their data is being used

AI and the Symbiotic Web

To me, Web4 and the Symbiotic Web are relatively new concepts, and they are closely interlinked in many ways.

The Symbiotic Web is a concept that envisions a decentralised and distributed web where users have more control over their data and privacy. The idea is that users can share their data with other users or services on the web in a secure and mutually beneficial way.

Artificial intelligence (AI) can play a role in achieving decentralisation in the Symbiotic Web by allowing for more sophisticated and decentralised decision-making. For example, AI algorithms can be used to analyse and make decisions on data shared by multiple users in a decentralised network without the need for a central authority.

One way that AI and the Symbiotic Web can work together is through the use of decentralised AI models. These models are trained on decentralised data and can be shared and used by multiple users in the network. This allows for more accurate and personalised AI services while also maintaining user privacy and control over their data.

Another way is through the use of decentralised AI protocols. These protocols allow users to share and collaborate on AI models and data in a decentralised network without the need for a central authority. This can lead to more accurate and robust AI models, as well as more equitable access to AI services for all users.

Final thoughts

AI and the Symbiotic Web are considered to be key technologies that are driving the development of Web4, the next generation of the World Wide Web.

AI has the potential to enable more sophisticated and decentralised decision-making on the Symbiotic Web by allowing for the analysis of data shared by multiple users in a decentralised network without the need for a central authority. This can lead to more accurate and personalised services while also maintaining user privacy and control over their data.

 

Source: https://e27.co/web4-a-vision-of-an-intelligent-decentralised-web-20230130/

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

Anndy Lian Shares His Vision for Successful NFTs at NFT Meta Korea 2022

Anndy Lian Shares His Vision for Successful NFTs at NFT Meta Korea 2022

Speaking at the 14th World Blockchain Summit MARVELS, the Chairman of BigONE Exchange Anndy Lian said that key to success for NFT startups was a supportive community and a compelling user case. As a guest speaker at the event on February 22, under the theme of ‘NFT META Korea 2022’, Lian agreed that the global market for NFTs was very active currently but wanted to share his thoughts on how NFT projects can be successful in the longer run. One key factor that should be with a team from the outset is to ensure the NFT has utility, which is closely tied to the importance of community.

 

Lian illustrated the importance of getting this relationship between the NFT and its community, between creators and fans, with the example of starting a NFT around a well-known soccer player. While on paper the fans of a soccer player appear to be automatically part of the NFT community you are building, that isn’t necessarily the case. What was needed was a strong bond to be created between the fans and the soccer star and the platform for it to work. This was related to the importance of ensuring that when you see a new project in the NFT space you should as an investor consider whether it has utility. Lian added that for NFT creators it was important to be transparent about their offering to investors, not only to better convey its value, but also to ensure that when regulators start to enter the space in 2022 the quality of the NFT industry stands up to scrutiny.


With so much money, energy and creativity going to NFTs its clearly going to throw up some significant issues, and mistakes will be made. Just recently there was a legal battle over CryptoPunks, sparked by an issue with the original version of the code. The makers Larva labs attempted to ban the faulty V1 version, which had been replaced due to faulty programming code, and had the NFTs removed from OpenSea. While LooksRare, the rival to Opensea, was recently reported as experiencing significant wash trading.

 

But perhaps more worrying was the recent Wormhole bridge attack, when hackers managed to steal more than $320m from the bridge which connects the Ethereum blockchains. A ‘bridge’ is a protocol which allows crypto and NFT holders to move their assets across different blockchains. Wormhole’s bi-directional NFT highway provided a portal between Solana and Ethereum was only launched a few months ago, was designed to connect both communities and enable them to trade each other’s assets with ease. As reported in CNBC, analysis shows a hacker exploited a vulnerability on the Solana side of the bridge to create 120,000 so-called ‘wrapped’ Ethereum tokens for themselves. It appears that they then used these tokens to claim ETH that was held on the Ethereum side of the bridge.

 

This is indeed troubling on several fronts, not least because these bridge vulnerabilities have long been known about. Indeed, no less a figure in the crypto world than the inventor of Ethereum, Vitalik Buterin, posted early this year that so-called cross-chain devices such as bridges had “fundamental security limits”. The first reason is down to the fact that if a native blockchain suffers a 51% attack, which reverses a cross-bridge transaction (involving a transaction to another blockchain) then the asset could be left stranded in the non-native blockchain. Moreover, this vulnerability could potentially mean a successful 51% attack could threaten an entire crypto ecosystem. Clearly, the issue is as these handy bridges grow in volume, with the growth in DeFi and NFTs, that these issues will only increase. “Your data layer must be your security layer,” summarized Buterin in a tweet thread accompanying the Reddit post.

 

One neat solution to the threat posed by bridging hacks to NFT transactions was unveiled on February 18 by Ethereum-based platform Harmony, with a Bored Ape Yacht Club Passport. This allows users to import their NFT into play-to-earn game DeFi Kingdoms, which is also built on Harmony and boasts over 120,000 monthly active users. VP of Engineering at Harmony, Leo Chen, explained in a post in late 2021 that the wider importance of this new cross-chain bridge, as part of the Horizon bridge: “It is an important step of the cross-chain infrastructure provided by Harmony to enable a multi-chain ecosystem and one step closer to the upcoming metaverse. The multi-chain world and the metaverse require inter-connected blockchains, not just the fungible tokens, but also non-fungible tokens.” The advantage is that the bridge does not move assets, but rather establishes asset ownership. The second advantage is that it enables artists and creators, put off from participating due to high gas fees, to mint and collect NFTs as a result. A third benefit is that it allows creators to try out their art on Harmony first, and then when demand increase, to bridge to multiple blockchains.

 

Anndy Lian commented: “I welcome innovatory solutions to NFT cross-chain transactions such as that provided by Harmony, which not simply a safer solution, but which allows creators to get involved in the space without undue costs. It backs up my thesis that NFT projects need to be as transparent as possible when creating their offerings and grow a viable community as they progress.” The market in NFTs boomed in 2021, with total sales globally totaling $25 billion, up from just $94.9 million the year before, according to DappRadar. “Not surprisingly social media is awash with tales of get rich quick NFT success, from CryptoPunks to Bored Apes, and everything in between, but the fascination with digital art is going to change in 2022, with more use cases around utility. At its core of course NFTs are a great way for creators and artists to contact directly with their fans, with their community. And that’s probably the most compelling use case to date that’s going to sustain the growth of NFTs into the future,” Lian added.

 

 

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