Unpacking The Basics Of Blockchain Technology

The one-of-a-kind event features Blockchain and Web3 experts like Brandi Veil, Stephen Cutter, Jscott, and many more.

Brandi Veil, the co-founder of NAIL-IT and Yes3 Network, hosted an online event on the blockchain, Web3, and cryptocurrencies on April 3. 

The discussion featured industry experts like Stephen Cutter, the founder of Hemp Incubator, Andreas Fink of Cajutel, and J Scott M, a crypto industry expert. Over 60 people attended it on LinkedIn.

The Event Started On An Optimistic & Energetic Note

Web3 is growing steadily despite all the negative declarations floating around and the speakers and their credentials bear testimony to this fact.

Cajutel, co-founded by Andreas Fink, provides internet to the entire African continent through their native token (CAJ) and Initial Coin Offering (ICO).

Veil spoke about the mission of Yes 3.0 – to have an organic and prosperous mentality to reframe story-telling. The media is evolving with Web3; Web3 is helping media become more transparent.

BlackRock And Its Entry Into Crypto World

As the discussion progressed, Stephen Cutter talked about BlackRock, which recently released its first tokenized fund on the Ethereum blockchain, BUIDL. It enjoyed strong demand in its first week, attracting $245 Million in deposits. 

Carlos Domingo, the CEO stated that BlackRock’s fund acts as a bridge between traditional finance and DeFi. J Scott M talked about how it is good that BlackRock gets involved, especially with the ETF, and whether they will allow average investors to take advantage or have a monopoly.

Kalyanjit, who is involved in a Web3 startup with a tech background, highlighted how BlackRock is the biggest manager with $8 Trillion in assets. If they get into it, crypto will be big money, he noted.

This will lead to a lot of product development as the tech evolves. Stephen Cutter said that BlackRock can monopolize the crypto economy. Still, it is good as it brings a lot of awareness to the crypto industry and can help regenerative finance as he works there. 

Early Entry Into Crypto Will Be Beneficial, Says Chris S

Chris S, another attendee, said that from a larger perspective, more traction can happen in crypto as awareness is growing. The masses will not benefit too much compared to the early people.

However, it is not like the winner will take all, as communities play a big role in the crypto industry. Educators and leaders need to lead by example and move people along a learning curve so they can learn more about Decentralized Finance. 

Andreas Fink & Cajutel

The discussion then went to Andreas Fink, who talked about Cajutel. The project aims to provide people with internet access so that the population can use it. They are working in Western Africa, where the countries have an internet penetration of only 10%. 

Unlike Europe, where one can use a credit card daily, Western Africa does not have blockchain due to a lack of internet. Cajutel is trying to solve this by launching an ICO. They are changing the shape of these countries by introducing the internet and payments through cryptocurrencies.

Europe’s telemarketing is brutal with cutthroat competition, whereas, in Western Africa, the only competitors are mobile operators. They are also working on a massive project with the government to bring internet access to over 1000 schools. Andreas then talks about how NPOs will help with the education provided in the schools.

“Get Used to Blockchain”- J Scott

During the discussion, J Scott mentioned that investing in tokens does not provide a solid understanding of blockchain technology. However, participating in decentralized finance (DeFi) can give a better understanding of blockchain. Using bridges and swapping are good ways to learn about blockchain. 

J Scott also believes that central bank digital currency (CBDC) will be portrayed as the best product in crypto when governments launch it. This is because CBDCs are centralized and controlled by the government, and they like to keep things in their control.

However, blockchain is decentralized, and Ethereum funds on a decentralized blockchain are an excellent example of that. Decentralization gives power back to the people, so raising awareness about it is essential.

Blockchain Is Just Like A Trust Machine: Tom De Block

Tom De Block, Co-founder of ALGAE Alpha and the Belgian Barrels Alliance, described blockchain as a trust machine. He also mentioned the benefits of centralized blockchain, such as the European blockchain, which is crucial for corporations and institutions.

A complete end-to-end Decentralization may only be suitable for some cases as it can come at the cost of performance. A combination of both centralized and decentralized approaches can be optimal. Tom also discussed the critical relationship between AI, IoT, and blockchain, particularly how blockchain complements AI and IoT.

A Perfect Event Ending

Later in the event, Brandi Veil discussed how unfortunate poverty exists worldwide. Educating people about Web3 and blockchain can help solve this problem. All attendees, including Tom, Andreas, J Scott, and herself, can be leaders and educators for Web3.

Smart contracts can document everything, including supply chain management and many more lengthy corporate problems. This creates immense possibilities for blockchain and cryptocurrencies to revolutionize the world.

Towards the end of the event, Christine Brunsden emphasized the importance of AI education and Web3 for everyone. She described how she is making efforts to promote Web3, AI, and crypto as they can solve problems that have persisted for decades.

J Scott concluded the meeting by discussing his efforts to build a YouTube channel called Cryptocowboy to help with crypto adoption. After more discussion about the education and awareness of crypto and web3, the meeting ended with Tom De Block and Brandi Veil appreciating the support of everyone who attended. 

Event Summary

An online event on April 3 in blockchain, Web3, and cryptocurrencies was held. The event featured industry experts like Stephen Cutter, Andreas Fink, J Scott M, and over 60 attendees on LinkedIn. J Scott mentioned that investing in tokens does not provide a solid understanding of blockchain technology. Tom De Block described blockchain as a trust machine. Christine Brunsden emphasized the importance of AI education and Web3 for everyone and how they can solve long-standing problems. The meeting ended with Tom De Block and Brandi Veil appreciating the support of everyone who attended.

Disclaimer

It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.