Web 2.0

How it's used and where and by whom, we'll see as it pans out.

You and I have been through Web 1.0, Web 2.0, and I have repeatedly overestimated how saturated or how mature markets are on the internet only to find actually the market gets far bigger that the ecosystem gets far bigger that you know web 2 comes along and and so i'm being cautious i'm not doing the same with ai

Yeah, absolutely.

And Jevons will play a massive part in this.

There came social media.

And back in my days at IBM, I wrote together with the University of Österreich-Winkelin, the EBS, here in that space, an article about the adoption of Web 2.0 in the industries.

And there we spoke a lot about data standards and the harmonization.

and it was an intrinsic motivation of the community to have standards that help them all do what they started to do as a fund and then identified it as a major business like all this content creation, video format, streaming services and all that stuff.

There came social media.

And back in my days at IBM, I wrote together with the University of Österreich-Winkelin, the EVS, here in that space, an article about the adoption of Web 2.0 in the industries.

And there we spoke a lot about data standards and the harmonization.

and it was an intrinsic motivation of the community to have standards that help them all do what they started to do as a fund and then identified it as a major business like all this content creation, video format, streaming services and all that stuff.

He has over 10 years of experience on the payment side of things, whether it is at Alipay or so many other large institutions.

And he is bringing all that experience from the Web2 world into the Web3 world.

And if you work in the space of finance or fintechs, then this episode is for you.

As always, nothing that we talk about here should be taken as investment or financial advice.

So when we try to approach the merchants, we are not directly engaged with merchants, right? We are talking to, we call it the acquirers, right? Because, for example, let's say using Malaysia, we cannot directly engage with merchants because we don't have the local acquirer.

license, right? So, when we talk to the acquirers, then, of course, the acquirer will say, how many transactions you have, how many volumes you have, right? It's the right time for us to accept the stable coins.

Assuming that those acquirers or those PSPs, they are from the Web2, they are very experienced and capable to do traditional aquarium.

But they have such type of the concern regarding about stable corn, right? So in this case, I always tell them that number one, there are already a lot of people holding the stable coin and want to directly use the stable coins, right? One of the number I can share with you, probably you heard that, is the roughly number to say global wide that there's about 560 million people, 506 million people actually touch the stable coin or crypto, right? That's a huge number, right? Especially many, many of them from the developing countries.

And so we invested in a company called American Fortress that is doing that.

And And I think that even for the Web 2.0 world, if we look at Web 3.0 as synonymous with crypto, even for the Web 2.0 world that's now shifting towards Web 2.5, so to speak, is I think the solutions that will actually come to be are the ones where the path to migration is a lot easier.

versus every single person in the whole world trying to install a plugin or install this or install that.

I just don't think that's going to be as effective.

I was good friends with, you know, like I saw the Flickr world and Katarina Fake and what was happening.

And I remember Katarina explaining like Web 2.0, social communities, what people are going to come together.

And I remember thinking, there's actually a path for overthrowing the existing healthcare system.

And that is empowering individuals to actually come together online and they can actually take charge of themselves.

This cycle.

So FOMO is already, if you look at the app called FOMO, it's acquiring Web2 users at the rates of hundreds of thousands.

If you look at Robinhood, Robinhood has 24 million funded accounts.

The average account is $12,500.