When Web2 meets Web3: see how encryption veteran Ou Yi interprets

On July 14, the CEOs, Co-Funder, SVP, CTO, CFO and other senior managers of Huawei, Tencent, Alibaba, Microsoft, Google, Amazon and other top 500 Internet technology companies in the world, as well as OKX, BitMex, Paradigm, The Ethereum Foundation and other Web3 aborigines gathered in Singapore to attend the first global Web3 Ecological Innovation Summit sponsored by the “encryption veteran” Ouyi. The overseas battle with Web3″ came into reality.
1. When Web2 meets Web3, as
we all know, almost all major Internet companies in China have set up teams to explore Web3, and Alibaba, Tencent, and Byte have deployed overseas early. The Singapore Summit will undoubtedly provide an offline “meeting” opportunity for Web3 aboriginals and Web2 veterans.

“Hugging while questioning” has always been the main theme of public opinion after Web2 and Web3 met.

For example, Twitter founder Jack Dorsey accused Web3 of being a tool for venture capital firms; Musk bluntly stated that Web3 seems to be just a marketing term at this stage; Zhang Xiaolong said at the 2021 Tencent employee conference that Web3 may be a fake carnival, but Chinese Web2 is now left with real disappointment.

This scenario is like the early days of Bitcoin, when the world was gripped by the 2008 financial crisis, and people were excited about new things, but also skeptical about its future.

As an old-fashioned financial technology platform native to the encryption industry, Ouyi has grown up with Bitcoin and experienced the ups and downs of the industry. It is undoubtedly hoped that by sponsoring this conference, it will promote the interaction and integration between Web2 and Web3, and help the occurrence of Web3 innovation; It also conveys the original intention of “encryption veterans” to the industry and abroad that the bear market is retrograde, to help the development of the industry with practical actions, and to boost the confidence of the industry.

In fact, since “Web3 will not happen in China” was “collectively acquiesced”, Chinese people have gone overseas one after another, and the Chinese voices who really have deep insight into Web3 have gradually decreased. Lennix, the financial market director of OKX, who attended the summit and served as a guest speaker, also sighed: “It’s been a long time since I spoke about Web3 in Chinese! I’m very happy to be able to discuss Web3 with you in Chinese this time!” Lennix admitted that Singapore has a lot of A good Web3 innovation atmosphere, many employees of Ouyi are here to contribute to Web3 innovation.

Contribution is not a slogan, but based on deep insight and active practice of Web3. When Web2 and Web3 gathered at the Singapore Ecological Conference, Lennix took the development history of the Web as the starting point to output a series of “interpretations” of Ouyi.

When Web2 meets Web3: see how encryption veteran Ou Yi interprets

Second, “revolution” or bubble, how does Ouyi understand Web3?
From 1994 to 2004, the Internet Web 1.0 began to appear. Web1.0 is a very simple page that users can read only; since 2005, it belongs to the era of Web2.0 (also known as Web2), entrepreneurs have begun to put the concept of “user ID” on the Internet, and users can participate in Interaction, such as creating content and participating in comments, etc., means that social interaction between users can generate content, and the content data generated by users is mined by commercial companies to generate many monetization patterns.

The reason why Web3 was born and discussed is precisely because of the crisis of trust in the context of Web2.0 (also called Web2).

Looking back at the early development of Web 2.0, large companies generally adopted subsidies to attract users to seize market traffic. When enough traffic and user data are obtained, the relationship between the platform and the user evolves from the user being the king at the beginning to extracting the interests of the user.

In this context, Gavin Wood, founder of Polkadot and founder of Ethereum technology, proposed to use technologies such as blockchain to create readable, writable, and value-transmitting, so that users can control their own identity, data and destiny. Generation Internet Protocol – Web3.0 (generally known as Web3).

As mentioned above, the background of the birth of Web3 is very similar to that of Bitcoin, both born from the crisis.Lennix said that Ouyi is well aware of the revolutionary nature of Web3 and is optimistic about the new wave of entrepreneurship it brings.

At present, European countries and regions have issued GDPR regulations on personal privacy regulations. The purpose is to prevent Web2.0 companies from arbitrarily obtaining user data. Every time the platform wants to obtain user privacy data, it must obtain the user’s consent.

Web3, on the other hand, can create a more private and convenient network without obtaining all user data. The basic implementation principle is to balance the positive development of the entire network through Token incentives and blockchain consensus. For example, if you make a Web3 taxi software, you don’t have to ask users to provide name and health data, but only the user’s location data is enough.

However, Lennix also bluntly stated that the Web3 industry is still in the early stage of development. Compared with Web2, the carrying capacity of the Web3 network with the blockchain network as the underlying infrastructure is still relatively weak, and there are still many problems to be solved.

For example, many Web3 projects are currently managed through the DAO structure, but this method has gradually become more centralized and inefficient in the implementation; another example, the traditional Internet is realized through data, so what is the realization model of Web3? development? Is it to rely on its own Token or to earn network transaction fees? These are all questions that Builders need to think about. Of course, because it is in its early stage, Web3 has more room for development and imagination.
Third, regarding the Web3 layout, Ouyi does this!
Behind the understanding of Web3 is Ouyi’s series of layouts in this field.

At present, Ouyi’s global layout of Web3 is mainly reflected in two aspects: technological innovation and funding industry innovation. At the technical level, Ouyi launched Web3 wallet and the self-developed OKC public chain; at the level of financing industry innovation, its subsidiary OKX Block Dream Ventures has been mining and funding quality Web3 projects.

When Web2 meets Web3: see how encryption veteran Ou Yi interprets

Lennix said that Ouyi believes that the future must be a multi-chain world. Based on this, Ouyi has developed Ouyi Web3 wallet that aggregates multi-chain ecology. The wallet is the user’s entrance to the Web3 world, with rich functions, including digital currency wallets, NFT markets, decentralized transactions, DApp exploration, etc. It supports 16 public chains such as Bitcoin, Ethereum, OKC, and Cosmos, and more than 1,000 DeFi protocols. , Participate in the construction of a decentralized ecosystem, and provide complete and powerful one-stop services for users in the ecosystem.

Regarding the public chain OKC, Ouyi has invested a lot of energy.

OKC is a new generation of public chain independently developed by Ouyi, which aims to provide a secure and programmable smart contract platform for the next generation of Web3 applications. In addition to its high performance, decentralization, and community-driven features, it also provides strong compatibility. Not only is it fully compatible with EVM DApps, it can also be connected to the Cosmos ecosystem.

According to DappRadar data, there are currently 54 ecological projects on OKC, covering decentralized exchanges, DeFi ecological projects, GameFi, and popular Metaverses. Users can experience as long as they use the Ouyi Web3 wallet.What’s more worth mentioning is that Tether officially issued USDT (OKCU) on OKC on July 13. This cooperation will greatly reduce the cost of USDT deposit and withdrawal for users on the OKX platform, and greatly improve the user’s on-chain transfer experience.

In fact, those who are familiar with Ouyi know that production and research are its strengths, but in addition to deploying Web3 from its own strengths, Ouyi has also spared no effort to promote the development of the global Web3 industry. For example, it sponsored the Singapore Web3 Ecological Summit to promote Web2 and The in-depth exchanges between Web3 and both parties stimulate innovative ideas and at the same time enhance the confidence of the industry; another example is to jointly launch the “2022 Global Blockchain Talent Report” with LinkedIn. According to Lennix at the conference, the report will be released in early August, with data samples covering 180 countries, and in-depth sorting, analysis and insight into the current situation of talents in the blockchain industry. It can provide a valuable reference for global encryption companies to gain timely insight into the talent needs and team building of the global blockchain industry.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/when-web2-meets-web3-see-how-encryption-veteran-ou-yi-interprets/
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