Geneva, Switzerland, September 19, 2022, chain wire
SE Justin Sun, Founder of TRON, spoke about the Seamless Web3 Future at the Binance Blockchain Week in Paris. Sun was the keynote speaker at one of the most anticipated panel discussions with Trust Wallet CEO Eowyn Chen and Mastercard Chief Digital Officer Jorn Lambert. The panel discussed important issues such as Web3 and its universal definition, key tools, critical issues, security concerns and other pressing matters related to the future of the industry.
The discussion about Web3 and its technical definition opened the conversation. All panelists agreed that Web3 already exists, but the general adoption of Web3 will lead to the creation of more use cases. While Chen and Lambert expressed similar interests as Sun, Chen addressed Sun’s future vision of what Web3 is and could become.
Sun has enhanced key tools to create a more seamless Web3 experience, such as: B. digital wallets, revenue and rewards tools, and more efficient logistics and supply chain operations. Sun went on to discuss the unique utilities and tools that stablecoins can provide and how Trust Wallet, MasterCard and TRON can work together to improve user experiences of payment protocols. Chen addressed the glaring difference between Web2 and Web3, using Apple Music as an example of how many barriers to portability and ownership exist in the current market. Lambert then discussed how tools in Web3 can help current Web2 companies scale more efficiently by doing the right amount of UX research. User optimization is essential and needs to be done correctly for mass adoption so businesses can scale.
Mass adoption was a constant topic of conversation, and panellists had differing opinions. Sun’s main themes focused on education and creating digestible content for users. Your Web3 experience is similar to your “gaming experience”, this is crucial when addressing “opportunities to support mainstream crypto adoption”. Chen prefaced her response with this statement, concluding that the best way to educate users is by using social media, and product designers need to set up proper UX to make it smooth. Lambert focused on the importance of security for mass adoption, so users don’t “look over their shoulder” as they navigate the Web3 space. Sun later responded to the importance of being wary of scammers and elaborated on the concept of protocols and big institutions to fight against this by filtering out scammers and real users by implementing Know-Your-Customer -Policies are verified.
The panel also discussed security as an integral part of Web3, perhaps the most important. Helping build a chain-agnostic ecosystem can help make vibrant projects a success with fewer barriers to entry, which provides more users to attract those projects. Another important issue raised was the importance of regulation.
Ensuring governments regulate the crypto space properly can help accelerate the growth of blockchain technology. To ensure protection in an anonymous digital environment, users can use smooth and user-friendly payment protocols that do not allow them to connect their crypto wallets on unverifiable NFTs or marketplaces. Lambert continued the discussion about security by inspiring developers to find pragmatic solutions. Sun pointed out that UI/UX is important for protocol adoption to continue efforts to create a more secure ecosystem. Sun also emphasized the importance of adopting other infrastructure platforms like Etherscan to properly validate transactions. Chen is focused on working with large Layer 1 blockchains like Binance to help establish proper compliance and by using artificial intelligence to properly audit smart contracts. Proposing a civil society political theory, she believes that blockchain ecosystems will similarly become more literate and organically “civilized”, which will result in fewer scammers being successful and much more infrastructure being feasible.
Finally, the panel members spoke about the current situation with Web3 and which projects are leading the room. Bringing up the diverse qualities that different types of projects can bring, Sun led with finance-based protocols, followed by DAOs, GameFi, NFTs, and educational platforms that paved the way for the current landscape of Web3. Lambert mentioned that “trade makes the world go round”. It is imperative to create verification protocols that enable secure and auditable physical transmissions from user to user. Chen agreed with this concept, adding that the industry needs to build a certain level of trust for these transactions to take place. Sun agreed with the other panelists, adding that institutions need to hire the right people who understand the heart of this issue, create that level of trust for users, and communicate educational content properly. He concluded with how the crypto community is maturing a lot, and you can see crypto users and fans starting to dress a little more professionally.
Panelists agree that they are pushing for privacy, security and more robust verification methods that allow users to feel secure with their money and identity. Sun concluded its panel discussion on crypto’s exponential adoption due to its decentralization and usage, and how Web3 must remain decentralized to reach its full potential.
About TRON DAO
TRON is dedicated to accelerating the decentralization of the internet through blockchain technology and decentralized applications (dApps). Founded in September 2017 by ER Justin SunSince the launch of MainNet in May 2018, the TRON network has continued to achieve impressive success. July 2018 also marked the ecosystem integration of Bittorrent, a pioneer in decentralized Web3 services with over 100 million monthly active users. That TRON network has gained incredible traction in recent years. As of August 2022, it has a total of over 111 million user accounts on the blockchain, more than 3.8 billion total transactions, and over $13.2 billion in total locked value (TVL), as reported TRONSCAN. In addition, TRON hosts the largest circulating supply USD tether (USDT) stablecoin around the world and has overtaken USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-managed DAO. Lastly, the over-collateralized decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO reservemarking TRON’s official entry into decentralized stablecoins.
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