In these countries, Web3.0 is their bread for tomorrow.

In these countries, Web3.0 is crucial for their future.

Original Author: Wu Tianyi

“WAGMI” is a slang term in the Web3.0 community, which stands for “We All Gonna Make It”. It originally represented the community’s recognition of the project, and has now become a catchphrase for Web3.0 practitioners. This phrase is also firmly believed by Wu Xiao, the founder of “Pure White Matrix”.

When Wu Xiao entered the Web3.0 field, it was a time when the industry was not optimistic. However, with his belief in the power of decentralization, he spent several years visiting multiple countries and regions, connecting with local developer ecosystems. Compared to the economically stable and technologically advanced countries in Europe and America, some small countries in Asia and Africa left a deeper impression on him. In those places, Web3.0 has become a bank for deposits and withdrawals, a source of employment, and even a stock market, while cryptocurrencies have become daily necessities. Recently, Wu Xiao shared his stories of exploring the application of Web3.0 in countries such as Turkey, Nigeria, and Egypt with Bitpush News (www.theLianGuaiper.cn).

Wu Xiao, the founder of “Pure White Matrix”, participating in a Web3.0 offline event in Turkey.

• LianGuai Daily | Tesla has not bought or sold any Bitcoin for four ...
• GlassNode Capital slowly enters the market, Bitcoin may maintain a ...
• Traditional finance games are about to change? Exploring the opport...

“Blockchain should not become a tool controlled by large companies”

Bitpush News: Why did you join the Web3.0 field and travel to different countries?

Wu Xiao: I entered the Web3.0 field at the end of 2017. At that time, I came across the Ethereum game “Crypto Kitties” and discovered for the first time that distributed ledgers could be used to write programs. For example, Ethereum can be used to write Turing-complete programs. At that time, there were various Dapps (decentralized applications) on Ethereum, including celebrity tokens, crypto countries, and other strange crypto-related games, and I played these games. When we were playing these crypto games in the early days, most Chinese people couldn’t understand smart contracts. They would only follow a rule like “the price will be lower if you buy earlier”, which led to losses for Chinese players.

Later, there were some people who understood the technology and were willing to play. This led to a phenomenon – some people focused on the address of the smart contract, while others focused on the frontend and backend addresses. Then a group of Chinese people bought together, which was like a counter-attack against foreigners, and they called it “hitting foreigners”, with a sense of an expeditionary force.

After that, I started coding by myself. After entering this industry, I found it to be very new and interesting. New technologies are developed every day, which is advantageous for us who understand technology. In the early stages, we developed blockchain games such as “Cell Evolution” and “The Last Journey” because blockchain games were not as popular in those days. We naturally transitioned to Web3.0 development.

I believe that the reason I entered the Web3.0 industry is first because of the market and opportunities, and secondly because I received positive feedback here. Although Web3.0 was not popular in the previous cycle, I finally found something I could do. At that time, the blockchain game we designed received various awards from companies like Google and Facebook, and we received about 4-5 million in prize money. This was the driving force behind our positive feedback.

In fact, as early as 2019, when the entire industry was in a bear market, we were already taking steps outward and interacting with overseas markets. We attended the Game Developers Conference in San Francisco to communicate with developers on the international stage, participated in InfoComm (International Audiovisual Exhibition) in the United States, exchanged ideas with top conference scientists in the field of computers, and connected with overseas projects. At that time, we were actually very confused and wanted to see what the situation was like abroad. After going out, we discovered that the situation abroad was also very pessimistic at that time, but we still insisted on external communication. There was still a group of people abroad who believed in the native power of blockchain and believed that writing various programs on the blockchain was right, and that its token should not be separated and its incentive layer should not be changed, and ultimately become a tool controlled by foreign governments or large companies.

With the passage of time, Web3.0 has gradually entered this cycle. Not only has the market returned, but many commercial scenarios have also been applied abroad. Whether it is NFT (Non-Fungible Token), DeFi (Decentralized Finance), or Compound (World Bank of the Blockchain), there are more and more applications on the Ethereum network, and the entire market is prosperous again. The small partners who could not see hope before have become stronger. In this cycle, we are more willing to go out because we hope to connect with more developers and understand what developers in different countries are doing and what they are concerned about.

“Even fish sellers know about Web3.0”

Pengpai Technology: Why is Web3.0 becoming a tool for people to survive in some countries?

Wu Xiao: Besides becoming a developer, I have actually traveled to many places. I have conducted field investigations and governance surveys of Web3.0 in the Middle East and North Africa, which are relatively backward compared to advanced Europe and America.

I said this because a few years ago when we were doing blockchain education-related content, we first went through African countries with Web3.0 ecosystems online. One thing that impressed me was that during a lecture one day, a Nigerian developer told me that the central bank of Nigeria announced that buying cryptocurrencies was illegal, but at the same time, he also told me that the devaluation rate of their government currency was as high as 40%.

Wu Xiao witnessed Turkish drivers constantly paying attention to cryptocurrency “K-line”.

He also said that they believe in Binance (cryptocurrency exchange) because many American exchanges are unwilling to provide services to Africans. At that time, Binance was expanding Binance Chain and they valued Africa, so many Nigerians bought cryptocurrencies when the national currency depreciated by 40%, and many people’s lives underwent tremendous changes. In Africa, cryptocurrencies may be their bread for tomorrow. If someone is willing to teach them coding so that they can start their own businesses, they can develop some applications and sell them to international buyers.

This made me curious, so we connected with developers in Southeast Asia, including Indonesia and Vietnam, and found that the situation in each country is different and developers are doing different things. In Pakistan, the locals actually have no concept of Web3.0. The first thing we taught them when we went there was NFT, but we found that everyone liked to learn new knowledge. In wealthy places like Abu Dhabi and Dubai, they would ask us to arrange classes and forums for the locals. The Middle Eastern wealthy countries have abundant oil production, and they hope to turn the advantages of these natural resources into advantages in technology, because oil will eventually run out.

At Istanbul Airport, the driver who picked us up was watching relevant cryptocurrency K-lines, which surprised me a lot. I felt that the Web3.0 atmosphere in Istanbul was very strong. NFT trading markets could be seen everywhere, and the locals also bought a large amount of cryptocurrencies.

The unemployment rate among young people in Turkey is very high. They are like apprentices. As long as someone pays for their transportation or provides bread, they are willing to work for free for 8-12 months, because without work experience, they cannot find jobs. This is a strange paradox. Many young people have no way out.

I know some local university students who are part of a Web3.0 group. They rent a house together, and they haven’t even graduated yet. I asked them why they didn’t go to school, and they said that the knowledge taught in school is too outdated and cannot keep up with development. They have created a developer studio and work on Web3.0 in two rooms, just like in the American TV series “Silicon Valley”, with a bunch of people working in one room and the other room serving as a living area.

Those university students introduced me to a small village in the southern part of the country, which is very small, but has a strong Web3.0 atmosphere. Even the fish sellers there know about Web3.0. I asked a fish seller what Web3.0 is, and he said that there is a physical building dedicated to Web3.0 in their area, where activities are held every day. Sometimes I feel like I’m in a “Web3.0 paradise” there. In places like Dubai and the UAE, it’s already good to have an event once a week, but there they have events every day.

The local people there are so exaggerated that even the wedding dowry is directly paid in Bitcoin. Many people there have lost hope, unable to find jobs or opportunities. Some people choose to grow with Web3.0. However, overall, Web3.0 brings a mixed state of both opportunities and risks, and this group of people continuously moves forward in this mixed state.

The awareness and understanding of blockchain among Jordanians is not particularly high, but they are more familiar with blockchain games. Jordan has developed almost all mobile games in the Middle East. In addition to games exported from China, the largest mobile games in the Middle East are made by local Jordanians. They combine blockchain with games. Some local universities, such as Jordan University of Science and Technology, offer game design majors, which is rare in other countries.

I also met some Filipino and Korean tourists during my journey, and they also bought coins. This proves the widespread and large-scale application of Web3.0—it has penetrated into various countries, groups, and people.

Egyptians are also involved in some Web3.0-related content. Besides China, Egypt is the only country that is also working on consortium chains. They have some consortium chains related to education and logistics. In addition, because Egyptian law explicitly prohibits the use and creation of cryptocurrency exchanges, there is a very large black market in Egypt.

The black market is disguised as a shopping mall, but in fact, when you enter a small black room and hand over the local currency to a person, he will transfer Bitcoin or Ethereum to your bank account within 24 hours. It is reported that this black market has been operating for more than 3 years and even attracts a group of local companies to go to the small black room to buy Bitcoin when making overseas investments, which is something I did not expect.

In summary, any economy needs exports and imports. In certain regions, this import may be electronic pets in blockchain games. For example, some rich ladies who like electronic pets will hire Filipinos or Vietnamese to play games for them, and these people make a living from it. Traditional banks cannot reach certain impoverished areas. In China, everyone thinks that depositing and withdrawing money is common, but in some foreign places, they may not even be able to open a bank account.

In a documentary, an elderly couple from Southeast Asia relies on “gold farming” (playing games to earn cryptocurrency) to obtain cryptocurrency, which they exchange for bread and medicine. They have no visa, no green card, and no bank account. And there are many countries like this. For example, in Thailand, 40% of young people have bought cryptocurrency, and in Latin America, over 51% of people have bought cryptocurrency with Mastercard. This proportion will continue to grow. With so many grassroots companies and developers gathering together, along with some innovative applications bringing new business models, new products, and new services, as well as some clever regulators pushing it forward, a collective force will be formed. This force needs political support.

“Equality for all in the face of Web3.0”

Pengpai Technology: During your journey to various countries, what were some memorable scenes?

Wu Xiao: In Karst, there were many Russian programmers and engineers. When we went to do a presentation, a bunch of people crowded into a small room to listen to Web3.0 and blockchain. I felt quite shocked. Their eyes were filled with light, and their hearts were filled with passion. They were born in the lower class but wanted to change their destiny and learn. Their willingness to strive is truly incredible.

And in Dubai and some events in the UAE, some leaders wearing white robes expressed their acceptance of Web3.0. Suddenly, it felt like Web3.0 had undergone a complete transformation. These politicians and managers became very welcoming of Web3.0, which was completely different from the situation where everyone used to oppose it.

At the largest technology exhibition in the Middle East, I didn’t contact anyone from Alibaba in advance, but we developed a Web3.0 developer tool. The next day, Alibaba’s colleagues invited me to speak on stage. It’s not just Alibaba, but also Microsoft, Google, Facebook, Huawei. These big companies have now started actively embracing Web3.0. It’s completely different from the feeling of not being able to afford a booth and being ignored when we gathered together in the past. We have a great sense of accomplishment.

Pengpai Technology: Are there any aspects of these countries worth learning from and emulating?

Wu Xiao: Definitely. I think domestic colleagues, especially those in Hong Kong where policies are relatively open, should go and explore the opportunities of Web3.0. It’s not just about considering investment, but also about building Web3.0.

Today, Web3.0 has many blue oceans and there are many things to do. It’s a great time to carve out your own path and occupy your own position. In another three to five years, when the Web3.0 industry matures, it may also become old and stagnant. If you don’t seize the opportunity now, there won’t be any chance when the industry truly matures.

Think about the level of information technology development in countries that are not good at technology. There, people who are not from a technical background dare to venture into Web3.0. Many of our colleagues who are interested in it should also get involved and move forward. Today’s Web3.0 is a world that is very worth building.

Pengpai Technology: What is the significance of Web3.0 and blockchain in your eyes? How might their ultimate form develop in the future?

Wu Xiao: Equality for all in the face of Web3.0. In poorer countries that develop from the bottom up, they need an upward path. Web3.0 is a tool that can climb upwards regardless of the rules of the battlefield. This is why these places rely on Web3.0. If they were to engage in traditional businesses, young people would have no opportunity at all. Among them, some are involved in investment trading, while others have learned Web3.0 technology to change their lives.

This upward channel has changed fate and to some extent can also bypass the economic situation because it does not require banks. With just an internet connection, even people from lower backgrounds can have opportunities. In the past, even if some people understood the Internet and wanted to work for Americans, they couldn’t even open a bank account without a visa, and the US dollars couldn’t be transferred to their accounts. But on the blockchain, any cryptocurrency can be sent to someone from anywhere in a matter of seconds.

What does Web3.0 and blockchain mean to me? In the future, humans will definitely spend more than 90% of their time living in the virtual world. In such an environment, there will certainly be some rule-based designs. Web3.0 and blockchain will definitely be the most important economic system. You can’t expect to only use US dollars or euros in such a world. Even if you have game coins, they will definitely be based on blockchain.

Therefore, Web3.0 is first and foremost the infrastructure of the economy, and secondly, it may be the infrastructure of law and rules. What kind of people commit what kind of acts and what kind of punishment they will receive – all of these rules must be public, transparent, and automatically enforced. This is particularly suitable for the blockchain, which has already condensed the consensus of global users and developers, to provide certification and write rules through smart contracts. Since everyone is developing and using this chain, it means that everyone has implicitly agreed to abide by the rules of this chain. The chain itself has no bias, and these rules are suitable for and can only be formed on the blockchain.

• COMP
• DeFi
• NFT
• Web3.0