Web 3.0

Quantum computers may one day crack the cryptographic algorithms that underpin everything from Bitcoin to digital IDs. What can be done to secure Web3’s future?

The DeFi giant may have escaped a death spiral, but exploits and code problems like what it recently suffered are more commonplace — and preventable — than what the industry acknowledges.

PYUSD’s launch is injecting much-needed trust into crypto’s turbulent landscape, but its current form does not come with any of the benefits of real crypto, writes Danny Chong, co-founder of Tranchess.

Blockchain and AI’s synergistic combination will create technology beyond today’s wildest imagination. But true AI-Web3 integration remains a difficult affair.

Now a top-ranked crypto hub, Singapore is a shiny example of the central role that government can play in nurturing industry growth while bolstering consumer protections.

Funders see the novel social media network as emblematic of an abundance of opportunity in crypto and DeFi amid infrastructure gaps and increased integration with real-world assets

The third installment of Forkast’s ‘Crypto in Sport’ series comes from Singapore, which this week plays host to Formula One’s Singapore Grand Prix. Crypto companies poured hundreds of millions of sponsorship money into F1 at the height of the bull market, but might a prolonged crypto winter pull the plug on this marriage of convenience? Or can diversification and real world use cases help breathe new life into the relationship? Welcome to crypto’s very own drive to survive.

Oasys, a blockchain-based game development platform, will team up with non-fungible token (NFT) marketplace αU market and cryptocurrency wallet αU Wallet – a crypto wallet by KDDI, one of Japan’s top three telecom companies – for users to trade NFTs on the αU market. See related article: Weekly Market Wrap: ETF developments bolsters Bitcoin above […]

Web3 companies often focus on building their tech above all else, but poor public communications can undermine all the work they do.

Socializing in a virtual world has been around for 20 years but remains a niche pursuit. Will AI and the new generation of digital natives make it mainstream?

Here’s a look at a future where Web3 technology will allow us to have ownership stakes in all things and avoid a subscription-based consumerist hellscape.

Blockchain games are often touted as the next big thing. Joseph Cooper, CEO of Earn Alliance, takes a hard look at the industry’s challenges and how to overcome them.

The latest in blockchain gaming has shades of game tech and development from the Web2 era. Is this a regression — or sign of a maturing industry?

Combining blockchain with AI, two of the greatest innovations of this era, will unlock myriad benefits for consumers and businesses alike, writes Eugen Kuzin.

If Web3 wants to be an alternative to traditional finance, the industry must make itself less vulnerable to hacks and security breaches, writes Richard Meissner.

As artificial intelligence becomes more human-like, it’s critical to distinguish real people from code and prevent Web3 from turning into a bot zoo, writes Khori Whittaker, executive director of Ethereum Name Service.

Concerns arise over Worldcoin’s free crypto. NFT market does a crabwalk. Japan’s next big thing for the metaverse.

The Tokyo WebX Asia conference, which claimed to be the largest of its kind in Asia, wrapped on Wednesday after two days of exhibitions, crypto-themed side events, and debate on what Japan needs to do to be a central part of the future of the digital asset industry.

$1 trillion in capital is needed to fight climate change, but investment money is sitting on the sidelines, going unused. How can we close this funding gap?

Already home to most of the world’s gamers, Asia has a rich pedigree in seeding and embracing new technologies, writes Robbie Ferguson of Immutable.

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

The value of crypto is typically tied to its correlation with fiat money. What if tokens can be earned only through good deeds and helping others?

Shanghai on Tuesday published a set of guidelines to promote use of blockchain, the digital yuan, and the metaverse in the city’s legacy industries.

China’s Zhejiang province, the home province of e-commerce giant Alibaba Group,has established a metaverse industrial association.

Beijing municipal government plans to train 10,000 engineering talents each year in emerging technologies including blockchain, AI and big data.

Global warming and rising sea levels are threatening to submerge countries like Maldives and Kiribati. Can blockchain technology help avert disaster?

As stores of our identity, customs and creativity, NFTs will drive Web3 adoption and become central to the new digital economy, writes Yat Siu, executive chairman of Animoca Brands.

The Japanese gaming giant is currently somewhere in the Web 2.3 to 2.7 range, says co-Chief Operating Officer Shuji Utsumi.

The key to making crypto easier to use while less prone to skulduggery lies in centralizing some security and UX features, writes Hsuan Lee of Blocto.

Japanese multinational gaming firm Sega Corp. is withdrawing from blockchain-based games as play-to-earn games are “boring,” according to Shuji Utsumi, the company’s co-chief operating officer cited by Bloomberg on Friday. 

Welcome to Forkast IQ, presented by Angie Lau, where we look beyond the headlines to get you insights that power smarter decisions. Coming up on today’s show:

Hong Kong’s local government on Friday set up the Task Force on Promoting Web3 Development to promote the benefits of blockchain to real-world industries.

Geisha, kimono, tea ceremony — the Japanese city of Kyoto is a place rich in traditional culture. But as the national government pivots toward the cutting edge potential of digital assets and Web3, the city is this week playing host to one of Asia’s largest crypto get-togethers.

Collaborative venture building involves pooling resources, expertise and ideas — a strategy ideal for Web3 startups to succeed, writes Katherine Ng.

Despite its potential, Web3 gaming has had mixed reviews from gamers and developers, writes Freddie Ng. Here are the challenges and opportunities.

Top blockchain and crypto news: Wall Street backs new crypto exchange. NFT traders remain cautious. Alibaba’s incoming chairman is a crypto fan.

Paul Chan, Hong Kong’s financial secretary, said more than 150 Web3 companies had registered at the Cyberport business park.

In this week’s Forkast IQ with Megha Chaddah, we dive into the U.S. SEC’s crypto crackdown and the state of the East Asian metaverses.

Tokyo-based information technology company Fujitsu will launch a new platform on June 30 to connect different economies using blockchain.

The final story in a three-part series on Asia metaverse developments looks at China’s national strategy, which has seen dozens of cities and provinces release spending plans and training schemes to adopt this digital world in real-world industries. China’s initiatives, however, face challenges from regulation and global competition.

Ledger’s attempt to simplify self-custody and key recovery triggered a community revolt. Was this inevitable or could Ledger have sidestepped this fiasco?

Top blockchain and crypto news: Miners dodge tax bullet. Blur, Binance heat up NFT lending. Chinese cities’ plans reveal nationwide Web3 ambition.

Leaders in Hong Kong’s Web3 industry announced the formation of two new associations, Hong Kong Licensed Virtual Assets Association (HKLVAA) and Web3 Harbour, on Monday.

Beijing’s local government on Saturday released a white paper outlining plans and challenges for development of the city’s Web 3.0 industry.

Opinions about Web3 gaming remain divided, but it’s undeniable that NFTs and GameFi offer players big opportunities, writes Ramona Ciocea of Protokol.

Top blockchain and crypto news: Asia’s crypto hub race. Is US debt ceiling fight a boon or a bane for crypto? China’s red carpet for metaverse investment.

China’s Nanjing City launched a state-backed organization on Monday to promote and enhance metaverse studies throughout the nation.

While U.S. regulators continue debating over whether cryptocurrencies are securities or commodities, the digital assets industry is being pleasantly welcomed by several Asian cities. And the competition is really hotting up now.

Top blockchain and crypto news: Fighting words over USDT erupt on Twitter. Litecoin surges amid memecoin fever. Chinese city bids for blockchain business.

Smart Communications, one of the Philippines’ largest telcos, is entering the Web3 space through a partnership with Web3 community enabler in Southeast Asia, BlockchainSpace.

Web3’s terrible user experience, scams and lack of diversity could be solved if its leaders take a cue from environmentalists and ‘act locally,’ writes Tim Williamson of NieuxCo.

While the community might be small, there’s a growing buzz around Web3 in Japan, with overseas companies now taking note. For clues on how to make it big in the land of the rising sun, follow the lead of the nation’s largest firms, says Sebastien Guillemot, co-founder of Paima Studios.

Japan was an early believer in blockchain and cryptocurrencies until exchange hacks brought a crackdown. But that was then. Now the government has become a crypto cheerleader.

It’s currently fashionable to publicly knock blockchain gaming, but behind closed doors, a growing number of developers are realizing its potential, writes Tim Dierckxsens of Venly.

Free of the hierarchies and power dynamics in traditional companies, DAOs can allow Web3 organizations to do better, writes Arjun Kalsy of Mantle.

Many tokenized platforms have grave shortcomings, but if better standards could be adopted, the improved transparency can avert future crises, writes Ralf Kubli of the Casper Assn.

People won’t want to bother with a new technology if it’s painful to use, even if they’re aware of the potential benefits, writes Toby Rush of Redeem.

Top blockchain and crypto news: Bittrex in SEC line of fire. Bored Apes fall after whale sale. Chinese banks court crypto clients.

What are ‘trustless oracles,’ and how will they shape the development of the metaverse and Web3? Markus Levin of XYO and XY Labs explains.

The global culture of decentralized autonomous organizations arrived in Japan last week for DAO Tokyo, the first event of its kind in Asia according to the organizers, drawing over 350 founders and contributors from all corners of the world for discussions on all things DAO.

Crypto’s share of venture capital money is now going to artificial intelligence, says Mysten Labs founder, Evan Cheng.

Top blockchain and crypto news: Ethereum fork prompts price fall fears. Satoshi is found — in Apple software. Hong Kong ramps up Web3 plans.

Hong Kong has established the Institute of Web 3.0 to facilitate the development of the crypto ecosystem in the city, directed by a former head of HKMA.

Paul Chan said it is the right time for the city’s Web3 push ahead of Hong Kong’s busy week of blockchain and finance gatherings.

Bitget on Monday said it had launched a Web3 Fund with an initial investment of US$100 million to support development of cryptocurrency projects.

Ownership is only one feature of Web3. The more important and defining characteristic is ‘verifiability,’ writes Jonathan Victor of Protocol Labs.

Despite Web3’s vast potential, it’s still too clunky and opaque to most people, writes Miles Parry of MPCH Labs. Here’s what can make it more user-friendly.

The blockchain world is hampered by many of the same problems as the early internet, writes Amrit Kumar of Altlayer. What could RaaS do for the industry?

Hong Kong’s new crypto licensing regime isn’t the only bullish sign for the city’s digital asset industry, says Signum Digital, the first company to win a preliminary license to handle securitized tokens in the city.

Hong Kong has opened its doors to the world once more, and it spared no time hosting blockchain and web3 focused summits.

DAOs are exploding in popularity but still hampered by weak governance and treasury mismanagement. What can help these novel organizations become more effective?

Over 80 foreign and Mainland China companies have expressed their interest in establishing a Web3 company in Hong Kong, ahead of new crypto regulations that will take effect from June