The Web3 Connect Event at RMIT University Vietnam, hosted by Frontier DAO and coorganized by Blockbase Ventures and Coin98, explored the transformative potential of Web3 technology on traditional business models. Head of Growth, Mr. Louis Nguyen, and Managing Partner, Mr. Jack Nguyen, shed light on Web 2.0’s limitations and Web3’s revolutionary features, sparking discussions on the decentralized future of businesses.

Starting the event, Mr. Louis Nguyen recalled the definition and differences of Web2 and Web3, including:

1. Web2 Limitations and Web3 Principles:
   Web 2.0’s centralization and user security issues have raised concerns due to extensive user data handling. Web3 emphasizes decentralization, trustlessness, and data ownership through blockchain technology, empowering users with control over their information.
2. Transforming Business Models with Web3:
   Web3 has the potential to revolutionize traditional business models by optimizing operations, enabling transparent transactions, and enhancing user experiences through blockchain and token economies.
3. Challenges in the Web3 Era and Adaptation:
   Transitioning to Web3 may pose challenges, including mindset shifts, technological changes, and navigating regulatory complexities. However, the benefits of embracing Web3 outweigh these challenges, making it essential for businesses to evolve.
4. Leveraging Web3 for Business Growth:
   Web3’s decentralized nature offers various benefits for businesses, including exploring new revenue streams and innovative business models through token-based ecosystems.
5. Successful Web2 to Web3 Case Studies:
   Real-world examples show companies successfully migrating to Web3, revolutionizing supply chains and improving customer service through decentralized applications (DApps).
6. Career Opportunities in the Web3 Industry:
   Aspiring professionals can pursue exciting careers in the Web3 industry by mastering blockchain development, smart contract programming, decentralized finance (DeFi), and token economics.

The event was continued with an interactive game for the audience and a panel talk session discussing about the opportunities and challenges in implementing Web3. In this Q&A session, Mr. Jack Nguyen – Managing Partner of BlockBase – provided the students with valuable application examples in reality and motivated them in broadening their knowledges in this newly adopted field.

The Web3 Connect Event at RMIT University Vietnam, co-organized by BlockBase and Coin98, provided valuable insights into the potential of Web3 for businesses. Embracing decentralization, blockchain, and token economies unlocks new possibilities and innovative solutions for future challenges. Staying at the forefront of this transformative technology is crucial for businesses and aspiring professionals, as the Web3 era presents both challenges and opportunities in the ever-evolving digital landscape.