Category: Business Strategy

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Bitcoin Blockchain Business Business Strategy Cardano Cryptocurrencies Ethereum How to Polkadot Strategy Technology Technology Strategy Web 3.0

How to grasp the blockchain world and safely walk your first steps into Web 3.0

The following is a quick guide explaining how to become acquainted with the world of blockchain, crypto, and web 3.0:

  1. First, I invite you to start with these videos:
    1. What is a Blockchain: https://youtu.be/rYQgy8QDEBI
    2. The difference between Bitcoin and Ethereum blockchains: https://youtu.be/0UBk1e5qnr4
    3. What is a Smart Contract: https://youtu.be/ZE2HxTmxfrI
    4. What is a Stablecoin: https://youtu.be/pGzfexGmuVw
    5. What is an NFT: https://youtu.be/FkUn86bH34M
  2. Understand the key concepts of web 3.0 by googling them: Blockchain, Wallet, Cryptocurrency, (crypto) token, Mining, PKI, tokens, Smart Contracts, Dapps, Decentralized Exchanges (DEX), Staking, ICO, ITO, Layer 1/2/3 protocols, transaction fees, consensus, etc.
  3. Know what are the major Web 3.0 technologies, their differences, and their value propositions like Bitcoin, Ethereum, Polkadot, Cardano, Cosmos, Polygon, Hyperledger, IPFS, Storj, Solana, Tether, etc. Not only the network but also the development tooling and the distribution means.
  4. Understand what new business models, organization models, like DAO, and features the Web 3.0 is bringing with respect to Web 2.0. Then research how Web 2.0 and 3.0 complement each other.
  5. Select one Blockchain technology and stick to it, in the beginning, to understand how Dapps are being built, distributed, and promoted in the ecosystem. Some of the most popular depending on your areas of interest: Uniswap (DeFi), OpenSea (Digital Art, NFT), Axie Infinity (Gaming), …
  6. Understand token economics and how it is possible to have such a huge valuation and market capitalization.
  7. Learn by doing!
    • Learn to use blockchain tools like Etherscan and Bitcoin Explorer, to see all Ethereum Blockchain transactions. And now is the time to look up your own wallet!
    • Then, you could fund your wallet using the most popular and safest Crypto Trade Exchanges like Kraken, Coindesk, or Crypto.com.
      Notice that you can buy cryptocurrencies with Paypal, but you currently cannot transfer them to your own wallet. Paypal is holding bitcoin for you.
  8. Follow the various companies and foundations expanding the web 3.0 (tech websites, Twitter) to grasp how the ecosystem is expanding. Then, ask yourself how these companies are regulated.
  9. Interact on LinkedIn, Twitter, and Reddit with knowledgeable people and enthusiasts.
  10. If you are an IT engineer, start programming with Solidity. I find the Truffle Suite genuinely good to build Smart Contracts and NFTs in an easy way.
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Business Business Strategy Data Data Architecture Information Technology Legal Technology Strategy

The European Data Act: actually, can your data become a reliable source of income?

The European Data Act has recently been published.

It aims at clarifying and strengthening the governing framework of the #dataeconomy.

In the nutshell (extract):

“The Data Act will give both individuals and businesses more control over their data through a reinforced data portability right, copying or transferring data easily from across different services, where the data are generated through smart objects, machines, and devices.”

For example, a car or machinery owner could choose to share data generated by their use with its insurance company.

Such data, aggregated from multiple users, could also help to develop or improve other digital services, e.g. regarding traffic, or areas at high risk of accidents.”

Some thoughts on this

1️⃣ I wonder to what extent the boundaries of your data ownership can be explicitly defined, then transparently coded in IT systems, so that a “data asset” is legally bound to you as your property.

2️⃣ After this, you could ask Facebook, Instagram, and TikTok to share a piece of the cake: % of the revenue generated from your data.
Let’s face it, it looks like a game-changer, if it can really be implemented.

3️⃣ Ultimately, you can capitalize on GPDR architecture. It pushes the concepts of data ownership, consent management, data counters, data KPI, data censorship management, IAM, data expiry management, etc.

4️⃣ Beyond multicloud oversight solutions, this is an excellent use case for permissioned blockchain, like Hyperledger Fabric. (e.g. Infrachain )

5️⃣ Innovative business models to arise like “Mutual Data Funds”, or Open Data Lakes”, where a set of businesses or individuals would provide a set of qualified and certified data sources to act as “Value Added Data Sources”, something similar to Bloomberg or Reuters for financial News.

Also, these Mutual Data Pools are fitted to be plugged as Oracles in blockchains (#ethereum, #chainlink, #binance, etc.)

I can already envision the pitch of startups like “We are the Bloomberg of space mining Data” (which would be awesome by the way👍)

6️⃣ This could boost the API economy. But also push further the adoption of GraphQL and AsyncAPI standards.

7️⃣ I reckon open industry data models are a much better way to start. It would help regulators (e.g. Commission de Surveillance du Secteur Financier (CSSF) , CNPD – Commission nationale pour la protection des données , CNIL – Commission Nationale de l’Informatique et des Libertés), auditors and regtech (e.g. Scorechain ) to have a common ground to build their control frameworks and oversight infrastructure.
Now, it is time to stitch them together.

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