The Future of Privacy in Web3 | DeCC @ NFT.NYC | Wendy O, Anndy Lian, Tor Bair, Gav Blaxberg

The Future of Privacy in Web3 | DeCC @ NFT.NYC | Wendy O, Anndy Lian, Tor Bair, Gav Blaxberg

At the forefront of the Web3 revolution, DeCC @ NFT.NYC convened a panel of visionaries to unravel the complexities of privacy in a blockchain-powered world. Moderated by the influential Wendy O, the panel featured Gav Blaxberg of Wolf Financial, Tor Bair of Stashh, and Anndy Lian, a best-selling author and thought leader.

The event underscored the attendees’ commitment to privacy, with many overcoming significant obstacles to join the conversation. The introduction of “Decentralized Confidential Computing” (DCC) marked a pivotal moment, signaling a shift towards a narrative that champions confidentiality in the transparent realm of blockchain.

Panelists shared their diverse experiences, from advising on crypto regulations to pioneering encrypted NFTs, all converging on the consensus that privacy and security are the bedrock of a sustainable Web3 ecosystem. The dialogue navigated through the evolution from Web2 to Web3, highlighting the persistent challenges and the urgent need for technological alternatives that empower users with control over their data.

A key distinction emerged between privacy and security. While privacy is often viewed as a luxury, security is a fundamental necessity. The irreversible nature of lost privacy was a sobering reminder of the stakes involved. Personal stories from the panelists brought to life the real-world consequences of security breaches, emphasizing the importance of vigilance in the digital age.

The session concluded with an engaging Q&A, where a question about AI’s role in privacy and security sparked a nuanced debate. AI’s dual potential to both compromise and enhance privacy was acknowledged, with a call for responsible AI development that aligns with public interest.

DeCC @ NFT.NYC was not just an event; it was a clarion call for collective action towards a future where privacy is a standard, not an afterthought. The insights and passion of the panelists inspired attendees to advocate for privacy and champion security in the digital domain.

As the narrative around DCC unfolds, the event stands as a testament to the ongoing efforts to protect our digital lives. The journey towards a more private and secure digital world is just beginning, and every step taken is a step towards a better future for 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”.

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BRC-420: A Game Changer For The NFT Market And Web3

BRC-420: A Game Changer For The NFT Market And Web3

Non-fungible tokens (NFTs) are unique digital assets that represent ownership and authenticity of various forms of content, such as art, music, games, and collectibles. NFTs have exploded in popularity in the past few years, especially on the Ethereum blockchain, where platforms like OpenSea, Rarible, and SuperRare have enabled creators and collectors to buy, sell, and trade NFTs with ease. However, Ethereum is not the only blockchain that supports NFTs. In fact, one of the oldest and most secure blockchains, Bitcoin, has also been home to a vibrant NFT ecosystem since 2018, thanks to the innovation of Bitcoin Ordinals.

Bitcoin Ordinals is a protocol that allows anyone to create and transfer NFTs on the Bitcoin blockchain, using a standard called BRC-20. BRC-20 is similar to ERC-20, the most widely used token standard on Ethereum, but with some key differences. For example, BRC-20 tokens are not smart contracts, but rather simple data structures that are embedded in Bitcoin transactions. This means that BRC-20 tokens are more lightweight, secure, and interoperable than ERC-20 tokens, as they inherit the properties and benefits of the Bitcoin network. Moreover, BRC-20 tokens can be easily integrated with existing Bitcoin wallets and services, without requiring any additional software or infrastructure.

However, BRC-20 is not without its limitations. One of the main challenges is that it does not support metadata, which is essential for NFTs. Metadata is the information that describes the attributes and characteristics of an NFT, such as its name, description, image, creator, and provenance. Without metadata, they are essentially indistinguishable from each other, and rely on external sources to provide context and meaning. This makes BRC-20 tokens less expressive, discoverable, and valuable than their Ethereum counterparts.

This is where BRC-420 comes in. BRC-420 is a new protocol that extends BRC-20 with metadata capabilities, enabling the creation of rich and diverse NFTs on Bitcoin. It was announced in September 2023, at the inaugural Ordinals Summit in Singapore, by Domo, the creator of the BRC-20 protocol. This protocol is inspired by ERC-721, the most popular NFT standard on Ethereum, but with some novel features and improvements. It consists of two parts: Metaverse Standards and Inscription Royalties.

Metaverse Standards are a set of open-source formats and specifications that define how metadata is stored and accessed. This standard supports various types of content, such as game items, multimedia, and art, and ensure that they are compatible and interoperable across different platforms and applications. It also leverage decentralized storage solutions, such as IPFS and Arweave, to ensure that metadata is persistent and censorship-resistant. This means that BRC-420 tokens are not dependent on any centralized server or authority, and can exist independently on the Bitcoin blockchain.

Inscription Royalties are a mechanism that allows creators to receive a percentage of the secondary sales of their BRC-420 tokens. They are embedded in the metadata, and are enforced by the marketplaces and platforms that support BRC-420. They are optional and customizable, meaning that creators can choose whether to enable them or not, and how much to charge. Inscription Royalties are designed to foster sustainability and reward long-term vision in the NFT space, by incentivizing creators to produce high-quality and original content, and by giving them a fair share of the value they generate.

In my humble opinion, BRC-420 is a game changer for the NFT market and Web3, as it brings the power and potential of NFTs to the Bitcoin blockchain. It combines the best of both worlds: the security, scalability, and simplicity of Bitcoin, and the expressiveness, diversity, and creativity of NFTs. It also opens up new possibilities and opportunities for creators and collectors, as well as for developers and entrepreneurs, who can build and innovate on top of BRC-420. It also enhances the user experience and adoption of NFTs, as it lowers the barriers to entry and reduces the costs and complexities associated with NFTs on other blockchains.

This is not a short-term fad, but rather a long-term vision for the future of the web. They are part of the broader movement of Web3, which aims to create a more decentralized, open, and fair internet, where users have more control and ownership over their data and content. It is aligned with the ethos and values of Web3, as it empowers users to create, share, and monetize their own NFTs, without relying on any intermediary or middleman. It is also compatible and complementary with other Web3 technologies and protocols, such as DeFi, DAOs, and DIDs, creating a rich and vibrant ecosystem of decentralized applications and services.

It is still in its early stages of development and adoption, and faces many challenges and uncertainties. For example, they need to overcome the technical and regulatory hurdles that Bitcoin faces, such as scalability, privacy, and compliance. This new protocol also needs to gain more awareness and support from the Bitcoin and NFT communities, as well as from the wider public and mainstream media. It also needs to prove its value proposition and differentiation from other NFT standards and platforms, and to demonstrate its use cases and benefits for various industries and sectors.

However, BRC-420 also has many advantages and opportunities, as it leverages the strength and reputation of Bitcoin, the most established and trusted blockchain in the world. It also benefits from the innovation and collaboration of the Ordinals Protocol, the leading project and community behind Bitcoin Ordinals. It also has the potential to attract and inspire new and existing users and creators, who are looking for a more accessible, affordable, and authentic way to participate in the NFT market and Web3.

To conclude, BRC-420 is a promising and exciting protocol that aims to revolutionize the NFT market and Web3, by bringing them to the Bitcoin blockchain. It is a win-win solution for all stakeholders involved, as it offers more freedom, choice, and value for users, creators, and developers. BRC-420 is not a hype or a bubble, but a reality and a trend, that will shape and define the future of the web. It is here to stay, and we should expect to see more developments and achievements in the coming months and years.

 

Source: https://www.benzinga.com/24/02/37076928/brc-420-a-game-changer-for-the-nft-market-and-web3

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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Web3 and NFTs: Catalysts for Change in the Digital Era of 2024

Web3 and NFTs: Catalysts for Change in the Digital Era of 2024

Web3 is a term that has been gaining popularity in the tech world, especially among the enthusiasts of blockchain, cryptocurrency, and decentralized applications. But what exactly is Web3, and why is it important? How does it differ from the current web, and what are the benefits and challenges of adopting it? And most importantly, what is the future of Web3, and what role will non-fungible tokens (NFTs) play in it?

What is Web3?

This is a concept for the next iteration of the internet, built around decentralization and often incorporating blockchain technologies, such as various cryptocurrencies and non-fungible tokens (NFTs). It is supposed to be a more open, fair, and democratic web, where users have more control over their data, identity, and assets, and where intermediaries and gatekeepers are replaced by peer-to-peer networks and protocols.

Web3 is contrasted with Web2, the current dominant model of the Internet, which is based on centralized platforms and services that provide user-generated content, social media, and e-commerce. Web2 has enabled unprecedented innovation, connectivity, and convenience, but it has also created problems such as data breaches, privacy violations, censorship, misinformation, and monopolization.

It aims to address these problems by leveraging the power of blockchain, a distributed ledger technology that records transactions in a secure, transparent, and immutable way. Blockchain enables the creation of digital assets that are scarce, verifiable, and programmable, such as cryptocurrencies and NFTs. Cryptocurrencies are digital currencies that can be used as a medium of exchange, a store of value, or a unit of account, without the need for a central authority or intermediary. NFTs are unique digital identifiers that can represent ownership and authenticity of any digital or physical item, such as art, music, or collectables.

Web3 also relies on the concept of smart contracts, which are self-executing agreements that are encoded on the blockchain and can perform various functions, such as transferring funds, verifying conditions, or triggering events. Smart contracts enable the creation of decentralized applications (DApps), which are applications that run on a distributed network of nodes, rather than on a single server or company. DApps can provide various services, such as decentralized finance (DeFi), gaming, social media, and more.

What is the main driver for Web3 in 2024?

In my personal view, Web3 is still in its early stages of development, and many challenges and uncertainties need to be overcome before it can achieve mass adoption. Some of these challenges include scalability, interoperability, usability, regulation, and security. However, many factors are driving the growth and innovation of Web3 in 2024, such as:

  • The increasing demand for digital sovereignty, privacy, and security, as users become more aware and concerned about the risks and drawbacks of Web2, such as data exploitation, surveillance, manipulation, and censorship. Web3 offers users more control and ownership over their data, identity, and assets, as well as more transparency and accountability over the platforms and services they use.
  • The rising popularity and value of cryptocurrencies and NFTs, as more people and institutions recognize their potential as alternative forms of money, investment, and expression. Cryptocurrencies and NFTs enable new ways of creating, exchanging, and storing value, as well as new forms of art, culture, and community.
  • The emergence and development of new technologies and standards that enable faster, cheaper, and more efficient transactions and interactions on the blockchain, such as layer-2 solutions, cross-chain bridges, decentralized identifiers, and verifiable credentials. These technologies and standards aim to improve the scalability, interoperability, and usability of Web3, making it more accessible and attractive to a wider audience.
  • The support and involvement of various stakeholders, such as developers, entrepreneurs, investors, regulators, and users, who are contributing to the innovation and adoption of Web3. Developers are creating new and improved DApps and protocols that provide various solutions and opportunities for Web3 users. Entrepreneurs are launching new and exciting projects and platforms that leverage the power of Web3. Investors are funding and supporting the growth and development of Web3 projects and platforms. Regulators are providing guidance and clarity on the legal and regulatory aspects of Web3. And users are exploring and experimenting with the various possibilities and benefits of Web3.

Do you think NFTs will have a big comeback?

NFTs are one of the most prominent and controversial aspects of Web3. NFTs have been used to create and trade digital art, music, collectables, and other forms of creative expression, generating billions of dollars in sales and attracting mainstream attention and participation. However, NFTs have also faced criticism and skepticism, due to their environmental impact, legal ambiguity, and speculative nature.

According to Cryptoslam, NFTs experienced a huge boom in 2022, reaching a peak of over $23 billion in sales. As we all know, they also suffered a sharp decline in the following months, dropping to less than $8 billion in sales in the 2023. This was due to various factors, such as market saturation, regulatory uncertainty, technical issues, and fraud.
However, despite the slump, NFTs have shown signs of recovery and resilience in 2024, thanks to several developments and trends, such as:

  • The improvement and adoption of more energy-efficient and eco-friendly blockchain technologies, such as proof-of-stake, layer-2 solutions, and carbon offsetting. These technologies aim to reduce the environmental impact and carbon footprint of NFTs, which have been a major source of criticism and concern.
  • The emergence and popularity of new and diverse forms and genres of NFTs, such as gaming, metaverse, music, sports, and social media. These forms and genres of NFTs offer more utility, functionality, and interactivity to users, as well as more opportunities for creators, artists, and celebrities.
  • The integration and collaboration of NFTs with other Web3 platforms and services, such as DeFi, DAOs, and DEXs. These platforms and services enable new and innovative ways of creating, financing, governing, and exchanging NFTs, as well as enhancing their value and liquidity.
  • The recognition and acceptance of NFTs by various institutions, organizations, and individuals, such as museums, galleries, brands, celebrities, and influencers. These entities are using NFTs to showcase, promote, and monetize their work, as well as to engage and reward their fans and followers.

Therefore, I think that NFTs will have a big comeback in 2024, as they continue to evolve and expand their scope and impact. It will not only be a form of digital art, but also a form of digital identity, culture, and economy. It will not only be a niche and novelty but also a norm and necessity. NFTs will not only be a part of Web3 but also a driver of Web3.

Bottom Line

Web3 is a vision for a new and improved internet, where users have more freedom, power, and value. Web3 is driven by various factors, such as the demand for digital sovereignty, the popularity of cryptocurrencies and NFTs, the innovation of new technologies and standards, and the support of various stakeholders. It is also challenged by various obstacles, such as scalability, interoperability, usability, regulation, and security. Web3 is still in its infancy, and its future is uncertain and unpredictable. It is full of potential and promise, and its future is exciting and inspiring.

NFTs are one of the most prominent and controversial aspects of Web3. NFTs have been used to create and trade digital assets, generating billions of dollars in sales and attracting mainstream attention and participation. NFTs have also faced criticism and scepticism, due to their environmental impact, legal ambiguity, and speculative nature. NFTs experienced a huge boom and a sharp decline, but they have shown signs of recovery and resilience in 2024, thanks to several developments and trends, such as the improvement and adoption of more eco-friendly blockchain technologies, the emergence and popularity of new and diverse forms and genres of NFTs, the integration and collaboration of NFTs with other Web3 platforms and services, and the recognition and acceptance of NFTs by various institutions, organizations, and individuals.

Web3 and NFTs are not just technologies, but also movements and cultures. Maybe more WebX will emerge in 2024. Just like Web4 that Anndy Lian talks about, Jack Dorsey on Web5 and Justin Sun on Web6. Anything can happen. They represent a new way of thinking and living in the digital age, where users are empowered, connected, and creative.

 

Source: https://in.investing.com/analysis/web3-and-nfts-catalysts-for-change-in-the-digital-era-of-2024-200609039

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”.

j j j