Web2 giants coming into Web3 could benefit ecosystem — PBW founder

Paris Blockchain Week (PBW), an yearly gathering of professionals wrong the blockchain industry, has kicked disconnected its 4th edition, with manufacture leaders and entrepreneurs from crossed the satellite gathering to sermon the latest trends and developments impacting the integer plus space.

In an exclusive interrogation with Cointelegraph, Michael Amar, the laminitis and president of Paris Blockchain Week, shared that the archetypal imaginativeness for the league was to enactment Europe connected the map, arsenic it was antecedently “nowhere connected the representation for blockchain.”

Cointelegraph's Joe Hall with Michael Amar.

Founded successful 2019, PBW was created with the imaginativeness of bringing unneurotic professionals wrong the manufacture to beforehand blockchain consciousness and adoption. According to Amar, the purpose of the league was to advancement the manufacture arsenic a whole, addressing topics similar regularisation and heavy technology.

Fast guardant to 2023, the topics person expanded to see Web3, nonfungible tokens, the metaverse, and decentralized autonomous organizations. Amar said that the maturation of Web3 is beneficial for the blockchain industry, arsenic it tin beforehand wider adoption of integer assets, perchance opening the doorway to different industries. He told Cointelegraph: 

“Now that we’re opening up to brands, we’re talking IP, we’re talking innovation, we’re talking marketing. It opens up to luxury brands, to manner brands, to art, to existent estate, to truthful galore industries. So, I deliberation this Web3 question is precise bully due to the fact that it creates wide adoption for crypto and blockchain astatine the extremity of the day.”

Speaking connected however the information of tech giants impacts the ecosystem, Amar shared: 

“The Web2 players and tech giants are coming, truthful we’re precise blessed to person Google oregon Amazon oregon SAP portion of the event. And actually, they’re bringing their resources and their projects to the abstraction to marque Web3 hap for the masses.” 

Amar addressed concerns astir whether the entranceway of Web2 companies, arsenic good arsenic retail and user brands, undermines Web3’s ngo of decentralization. He believes that portion the centralized powerfulness of these companies is simply a concern, their resources, tools, platforms and investments tin beryllium utilized to thrust alteration and bring astir much governance wrong Web3 systems. Although these companies whitethorn ne'er beryllium afloat decentralized, Amar suggested that having thing meaningful to decentralize is simply a measurement successful the close direction.

Related: Paris Blockchain Week 2023: Latest updates by Cointelegraph

Paris Blockchain Week hosts implicit 10,000 attendees and sold retired past year. Alongside the main event, it has a dedicated time for investors, a contention for startups, a hackathon and further broadside events. The 2022 summit drew astir 3,000 attendees and included talks with apical personalities successful the field, including Binance’s Changpeng Zhao and Tether’s Paolo Ardoino.