Latest updates from Cointelegraph’s floor workforce

Welcome again to day three of the Web Summit, one of many world’s main tech conferences with over 71,000 attendees on the third day. Stationed in Lisbon, Portugal, Cointelegraph’s floor workforce is able to deliver probably the most unique insights on Web3, crypto and blockchain from the occasion.

The first two days of the summit noticed among the main Web3 founders share their views on the way forward for finance, metaverse and gaming. WAX CEO William Quigley informed Cointelegraph that conventional companies possible gained’t be main the cost within the next generation of Web3 games. Sandbox co-founder mentioned that the way forward for the metaverse is in a state of evolution, with each manufacturers and customers as important catalysts of growth.

Yuga Labs CEO mentioned that nonfungible tokens (NFTs) might deliver a brand new type of digital possession to the lots in Web3. Meanwhile, the Chainalysis CEO shared his views on the rising crypto hacks and how you can mitigate them. Read extra such exclusive insights from day two of our stay protection.

The Cointelegraph workforce is again on the bottom to deliver you among the newest and unique insights from the occasion.

Disclaimer: Don’t neglect to examine this text repeatedly to be notified about the newest bulletins from the occasion. All timestamps are within the UTC time zone, and updates are in reverse order (the most recent replace is positioned on the prime).

14:00- Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr, hosts spherical desk dialogue on how you can pitch startups and initiatives for protection to top-tier journalists.

13:00- Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr, sat down with Richard Werner, professor of banking and finance on the University of Oxford, to debate the vulnerabilities of central banking and whether or not a decentralized monetary system is a chance. Werner laid out points with the centralized techniques and the excessive chance of their failure charges and defined:

“A decentralized financial system is a possibility, but only if we create many local community banks. If we have many community banks, that’s a decentralized financial system that will cater to the needs of local businesses.”

12:00: Cointelegraph’s editor-in-chief, Kristina Lucrezia Cornèr, sat down with Seven Seven Six founding partner Katelin Holloway and Doodles CEO Julian Holguin to discuss what’s next for the NFT space. Talking about the mainstream adoption of Web3 and the importance of visuals, Holguin said that visuals would help consumers overcome technical barriers, thus the focus should be onboarding users through whatever medium attracts them be it visual or audio.

“NBA top shot is probably the biggest on-boarder of new consumers to the NFT space, thanks to the power of visuals, so yeah I do think in the short term, visuals play a key role in on-boarding,” mentioned Holguin  

11:30 am: Prominent crypto investor Tim Draper was subsequent on stage to debate the market circumstances and the funding features of it and mentioned that bear markets don’t fear him, moderately it’s the bull market that makes him extra nervous. His recommendation to startups and initiatives: Raise as a lot cash through the bull market as you may and don’t spend it. He added that corporations ought to deal with utilizing funds correctly through the bear market to remain forward.

11:00 am: The next on stage is sir Tim Berners-Lee, the founder of the World Wide Web, along with the co-founder of his Web3 firm Inrupt, John Bruce, discussing the societal and economic impact of Web3. Lee said that the focus should be on efficiency rather than branding like Web3.

10:30 am: The first-panel discussion on the main stage revolved around the future of crypto with the likes of Cardano founder Charles Hoskinson, actor Ben McKenzie and journalist at Slate and Web3 creator Molly White. 

McKenzie started the discussion by bashing crypto and calling El Salvador’s Bitcoin adoption a failure since he didn’t see many people using it. Hoskinson was quick to counter the “bizarre” notion and said that cryptocurrencies are reimagining the financial system. On the question about El Salvador, Hoskinson was quick to remind him that Bitcoin (BTC) is a digital commodity and El Salvador is using it as a bi-monetary system the same way the United States doesn’t use gold directly for transactions.

9:30 am: Unlike yesterday’s gloomy and rainy weather, today, Lisbon is as sunny as it gets. The Cointelegraph team is ready for the action on day three, but first, breakfast and some coffee!

Unlike yesterday’s gloomy, rainy weather, today Lisbon is as sunny as it gets ☀️

We’re tempted to go surfing tomorrow morning if the weather keeps treating us right. ‍♂️ pic.twitter.com/d9gXRcNHuV

— Cointelegraph (@Cointelegraph) November 4, 2022