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AI WAVES: Web 3.0, Blockchain and Cryptocurrencies [VIDEO]

AI Waves #5: Web 3.0, Blockchain and Cryptocurrencies

Written by

Geofrey Banzi, Legal Technologist, Big Four

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Summary

Host Jerzy Biernacki Speakers: Dr Jane Thomason – Chair of the Board of Kasei Holdings Sophia Shluger – MD for Europe at Amber Group Sandra Mianda – Founder at Paypr.work Krysztof Kogutkiewicz – CEO at Nextbank

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In the 5th edition of the AI Waves webinar an expert panel turned their focus to the rise of Web 3.0 and discussed its potential impact across the business world. 

What is Web 3.0?

Web 3.0 is the third generation of the evolution of web technologies, following Web 1.0 and Web 2.0. Web 3.0 is expected to be more open, connected and intelligent than its predecessors and a defining feature of Web 3.0 will be decentralisation. The ability to decentralise will essentially allow different technologies and communities to be more self-governing and as a result, Web 3.0 can be expected to be more open, connected and intelligent than its predecessors. 

What does decentralisation mean for Web 3.0?

What decentralisation means for the web

The Evolution of the Web

Table portraying, the evolution of the web

Questions Covered

Will Web 3.0 become the new norm soon, or is it an over-hyped trend? (9:07)
Why does Web 3.0 matter for business? (20:36)
Which type of company, old or new, are adopting the capabilities of Web 3.0? (30:13)
How can companies use Web 3.0 to grow their businesses? (48:48)
How should we more accurately define  and distinguish cryptocurrencies? (57:47)
What can blockchain technology be used for other than within the context of crypto currencies? (1:02:42)

Panel Key Takeaways

Web 3.0 will provide a platform for the convergence of a number of technologies, including: Ai, IOT and Extended & Virtual reality.
Web 2.0 was the internet of information, Web 3.0 will be the internet of value. Furthemore, moving from Web 2.0 to Web 3.0.
The uses of Web 3.0 are diversifying beyond just gaming, which is where we are seeing it mainly used at present. 
Digital identifiers will be critical to the adoption and growth of de-centralised finance in Web 3.0. 
The ‘energy consumption problem’ faced by blockchain should not be considered in isolation,  but considered alongside the wider problem that all industries are currently  facing and trying to solve. 

Question and Answer – Key Takeaways

Ed-Tech and Fin-tech will likely make up significant parts of Web 3.0, and the democratisation of access will definitely be beneficial for the individual concerning their interactions with these technologies.
In Web 3.0 the individual will have greater ownership of their data and therefore wyoill be in a much stronger position regarding the monetisation of this data in comparison to the position in Web 2.0.

AI AIApplications AI ethics AIEthics AI governance AIGuides AI in law AIInLaw AI innovation AIResearch Algorithmic Bias Algorithms Artificial Intelligence ArtificialIntelligence automation Autonomous Vehicles Blockchain Disputes education Environmental ESG fairness by design Featured FutureOfLaw future of work generative AI innovation InnovativeLaw LegalAI LegalAnalysis LegalInnovation legal tech LegalTech LegalTechnology NeuralNetworks OracleOfDelphi Policy Quantum Responsibility Retrieval-Augmented Generation Self-Driving cars TechInLaw TimeBasedAI UK Web 2.0

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