The wave of strong shift from Web 2.0 technology to Web 3.0

Web 3.0 was born from the natural evolution of older generation Web tools combined with advanced technologies such as artificial intelligence (AI) and blockchain, as well as the connection between users and Internet usage. increasing. In other words, Web 3.0 is an upgrade to its predecessors: Web 1.0 and 2.0.

The Web 2.0 market is too crowded

According to experts, nowadays, people do not need to go to the bank to transfer money themselves like a few years ago, but use web 3.0 to connect and perform tasks from simple to complex. On the other hand, the birth of web 3.0 has ensured better cyber security for individuals to transmit information faster and more securely in the digital world.

At the recent DOTinVietnam event in Hanoi, Mr. Hung Dinh, co-founder and General Director of RADA Network, who has 15 years of experience in the field of technology startups based on Web 2.0 platform, affirmed the market. Web 2.0 was too cramped.

“We no longer have the opportunity and can no longer make a breakthrough, especially when the big tech giants like Google, Facebook or Amazon have almost monopolized the market,” Hung said.

Therefore, General Director Hung Dinh has decided to put all his efforts into Web 3.0 for more than a year, and he is not the only one. Appota Group, a provider of solutions and platforms for the digital entertainment industry in Vietnam with more than 50 million users globally, is also in the process of transitioning to Web 3.0.

Sharing the same opinion, Mr. Jason Tran, co-founder of Appota Group and General Director of AceStarter Launchpad shared: “Out of 10 friends of mine, only 1 person knows about blockchain. This field is still too new and there are many opportunities for Vietnamese developers to reach out to the international market.”

Vietnam has the potential to become an innovation hub in Southeast Asia

In fact, there have been many Vietnamese startups seizing the opportunity and making their mark in the world such as Axie Infinity, Kyber Network or Coin98. Mr. Jason said that the success stories of these projects have created a significant incentive for Vietnamese developers to participate in the Web 3.0 market. Notably, only in the last 6 months of 2021, domestic projects have raised a total of more than 500 million USD.

From the perspective of an investment fund, Mr. James Wo, founder and CEO of DFG, emphasized that the founding and development team is the key factor determining the success of a Web 3.0 project.

“With a community of programmers that are talented and responsive to new technologies, Vietnam is very likely to become an innovation hub in Southeast Asia or even worldwide in the next wave of growth. blockchain market,” said Joanna Liang, co-founder and CEO of Jsquare Investment Fund.

According to the sharing of speakers at DOTinVietnam, Vietnam is currently in the top 10 for outsourcing (outsourcing) and sixth for programming skills worldwide. This proves that the domestic development team has the capacity and good enough background to go further in the technology field, specifically Web 3.0. Major ecosystems such as Solana, NEAR, and Polkadot have all expressed a deep interest in the talented developer community with strengths in building and developing end-user applications.

SubWallet is a prime example of Polkadot’s effort to improve user experience with Polkadot’s Web 3.0 wallet from the Vietnamese development team. Riley Tran, co-founder of GFI Ventures affirmed that user-friendly applications like SubWallet are essential for the development of blockchain ecosystems.

Helena Wang, Director of Parity Technologies Asia – Pacific said: “Human resources for Web 3.0 development and blockchain user community in Vietnam will certainly be an important driving force in the development of the company. Polkadot Ecosystem”.

Ms. Helena Wang, Regional Director of Parity Technologies Asia – Pacific, presented an overview of Polkadot ecosystem and development strategy in the region during the DOTinVietnam event.

With the strong development of the Internet and technology in the last 20 years, Web 2.0 has made far-reaching impacts on the lives of billions of people around the world, but it is accompanied by consequences for the privacy and security of user data. Therefore, Web 3.0 was born and is expected to be a breakthrough to solve these problems, to make the Internet better and safer. This is also one of the important reasons why technology organizations and businesses decide to move and build Web 3.0 projects.

Receiving a huge investment in both time, money and people, believe that in the next 5-10 years we will see more and more Web 3.0 applications put into practice.