CEO of Nansen Discusses Why and How Web3 Is Still Thriving in Asia
- Asia-Pacific region embraces Web3 technologies, fostering innovation and growth.
- Cloud infrastructure drives scalability and development in Asia’s Web3 sector.
- Cloud and AI capabilities help streamline development and enhance user experiences.
Web3 is thriving in Asia more than ever in comparison to the rest of the world. The CEO of Nansen, Alex Svanevik shares an article addressing how and why Asia seems to be thriving over the rest of the world.
Why Web3 is still thriving in Asia.
It’s been great to work with the @GoogleCloud_SG team over the years. You have an awesome team here in the region @ThomasOrTK !https://t.co/A0piWS5COs
— Alex Svanevik 🐧 (@ASvanevik) October 27, 2023
In particular, Svanevik and the article attribute Web3 success in Asia to Cloud’s crucial role in the boom. Tech businesses in the Asia-Pacific region have thrived due to their emphasis on decentralization. More so, the role of cloud technology in this ongoing boom cannot be understated.
Emerging markets in Southeast Asia have seen the flourishing of a wide range of digital financial services, including digibanks, payment gateways, and buy-now-pay-later platforms. These innovations have addressed the historical limitations in accessing formal banking services.
The region now focuses on achieving profitable growth despite challenging economic conditions. Asia boasts a young population of digital natives, a thriving creator economy, and a vast community of mobile gamers, making it a hotspot for forging the next generation of the internet.
Several Web3 leaders deserve attention, such as Nansen, providing high-quality blockchain analytics, Web3Auth empowering users with non-custodial authentication methods, and Sky Mavis granting gaming communities digital asset rights within their games.
The cloud has been the cornerstone of Web3’s success, offering essential infrastructure for companies to scale and tools to develop, iterate, and grow their offerings. The evolution of Web3 mirrors the open-source movement, sharing traits like transparency and collaboration.
While Web3 promises transformation and value creation, it faces challenges in scalability, interoperability, usability, and security. Cloud platforms have stepped in, offering enterprise-grade infrastructure to support businesses and networks.
Cloud adoption by Web3 developers opens doors to AI capabilities and cloud-based services, reducing development time and improving customer experience. Web3, like open source, embraces transparency, trust, and collaboration.