BUIDL Vietnam Recap (Part 2): Building a Decentralized Foundation for Web3
In our previous recap post, we discussed the insights shared by the speakers of BUIDL Vietnam to support the building of a decentralized foundation for Web3. Once the foundation is in place, it’s time for catalyzing the upcoming mainstreaming of Web3 through the shoring up of the privacy of Web3 users, earn factor of blockchain gaming and community spirit of the social Metaverse.
(1) User Privacy
One of the central tenets of Web3 is that of user autonomy over the handling and use of personal data. Unlike Web2 platforms which entail the centralized storage and management of users’ personal data, Web3 platforms warrant user privacy through a decentralized framework under which users retain ownership and control over their personal data.
BUIDL Vietnam Recap – Aleo
In his presentation at BUIDL Vietnam, Anthony DiPrinzio, the Head of Growth of Aleo shared the ways in which the ZKP platform can catalyze the upcoming mainstreaming of Web3 by allowing developers to build trustless web services. Through the use of Zero-Knowledge Authenication (Zk-Auth), developers can use Aleo’s platform to build web applications with login and checkout mechanisms that allow the sharing of access without sacrificing user privacy. This is made possible by an authentication process that dispense with the need for disclosing personal data.
Source: Anthony DiPrinzio (Aleo)
(2) Blockchain Gaming
The asset tokenization features of blockchain paved the way for the Play-to-Earn (P2E) revolution through the use of NFTs as in-game assets and cryptocurrencies as earning rewards. By combining the fun factor and financial rewards, blockchain gaming could be the key to catalyzing the upcoming mainstreaming of Web3.
BUIDL Vietnam Recap – Axie Infinity
In his presentation at BUIDL Vietnam, Jeffrey Zirlin, co-founder of Sky Mavis dived into the mission statement of the company behind the P2E revolution, Axie Infinity, to “deliver property rights to all users of the internet, starting with gamers.” As part of its efforts to onboard the world to Web3 and use the novel mechanics of Web3 to unlock games, Sky Mavis had developed its native blockchain, Ronin, whose NFT trading volume is second only to Ethereum.
Source: Jeffrey Zirlin (Axie Infinity)
(3) Social Metaverse
The popularity of Web2 social media platforms such as Facebook, Instagram and YouTube illustrates the role of social connectivity in building digital networks. Web3’s creator economy which is premised on the creation and sharing of user-generated content (UGC) could revolutionize social connectivity in the digital sphere by tapping into our innate social nature to catalyze the upcoming mainstreaming of Web3 through the building of a social Metaverse.
BUIDL Vietnam Recap – CarrieVerse
In his presentation at BUIDL Vietnam, Jin Chung, Executive Director of Web3 Business of CarrieVerse, dived into the potential of Web3’s creator economy. CarrieVerse is looking to tap into the estimated 50 million creators around the world, almost half (42%) of which are millenials, to build the CarrieVerse Community whose members can go on adventures together in the social Metaverse. The community spirit of CarrieVerse could be the key to catalyzing the upcoming mainstreaming of Web3 using the power of social connection.
Source: Jin Chung (CarrieVerse)
In more ways than one, BUIDL Vietnam has set the stage for the building of a decentralized foundation for Web3 for the catalyzing of its upcoming mainstreaming by allowing users to enjoy gaming and socializing in a private manner. We look forward to seeing you again for next year’s edition of BUIDL Vietnam.