How We Unlock the Potential of Web3

Transcript

thank you very much for having me here I'm super excited to be here to share our vision and our mission and what we are going to do today previously this session was supposed to speak with Jun watab he is the chairman of Sony block solution lab but unfortunately he could not make it happen because of the Argent meeting so I will be speaking about stel and and arar and sonum on behalf of stel so our mission is web three for billions right now only limited peoples are using blockchain today and mainly blockchain is used by specific people like tech people and rich people but

from the beginning I think web3 technology have to empower the Ordinary People beyond the web3 just like internet of today you know people does not understand the background technology of the internet majority majority of the people does not do not understand tcpip HTTP EET and so on but they are getting the benefit so blockchain technology should be the same in the long run in the future um we would like to create the world where people are interacting and getting the benefit of the web three without knowing web three so this is the things we would like to do to do so uh what we are missing today is not faster

finality or more throughputs Innovative consensus mechanism but we need a distribution Channel and that's why stel has been working with a lot of the corporates including Sony group so our mission is to unleash the potential of the humanity through the open internet again I believe that web3 technology is something which Empower Humanity including uh people who does not understand web3 and the background technology of the web3 and three% this is the percentage of the people who are using web3 today if you

have a 100 people here only three three PE three people are using web3 so we have to on board remaining 17 97% of the people on chain incoming 5 years right now I think this industry is a little bit stagnating I have been here from 2016 and we launched our protocol project back in 2019 but uh I feel that the industry is stagnating for example three years ago one transaction takes 50 bucks 40 bucks or even more and if we see today one single transaction take even less than

one cent if you if you use Layer Two or if you use uh layer one other layer blockchain thousands times improvements right when it comes to transaction cost but today we don't see thousands times adaption in the world it's not because of a technical issue I think technology is getting mature and mature it's because of the distribution issue and another example is CH GPT the GPT technology was invented in 2018 I mean first version of the GDP but uh CH gbt was introduced in 2023 or 2022

then a lot of the people entered with ai ai space we should do the same right now we are focusing on the technology which is great but we have to deliver the product which is used by everyone Beyond tech people or rich people so this is something we would like to do when I talk about 3% this is a to the internet in 1999 so it's still early stage and incoming years we needed to deliver the product which is used by Ordinary People and to do so I think the best way way is to work with the company or a project which has existing distribution Channel and

this is what we are doing right now and another Insight which I learned from my past web3 entrepreneurers uh career is the importance of starting from problem so far you know in my career I made a lot of the mistakes and one of the B biggest mistake was starting from solution then trying to find the problem right now we industry is moving so fast and a lot of the buzz World here I have been following the buzz word such as you know ZK or maybe interoperability and a bunch of the things but uh after

making the product we try to find the solution this does not work so we start Chrome problem in existing industry and then try to find a solution how to provide the web series value to solve existing issue but uh for me I'm we three native so it's very hard to interact with the customers potential users beyond the web3 space I think this applies to all almost all web3 founders so as a result uh we have been solving web3 issu and that's why that's part of the reason

why this industry is a little bit stagnating and it's time to go mainstream it's time to go beyond the web three we have to talk with the users not in a web 3 but in web two and try to understand solution and then implemental Sol solution and this is the part of the reason why we are working with a lot of the companies so this is the things we are missing in a web three the first one is distribution as a result uh you know web3 project like us has been speaking with web3 people and trying to make web3 solution this does not make our pie bigger we have to talk with web two people we have to talk with the ordinary

people who does not understand web three and then try to find a solution and then we have to create a solution to solve the issue and another one is the seamless user experience web three should not require PhD to use we have to simplify and uh uh we have to simplify the user experience and the amplifier the benefit and the last things is uh mainstream adoption I will be briefing briefing we talk about son a little bit but uh one of the core value is go mainstream and uh we are saying GM GM previously stands for good morning representing

underground culture of the web stre but after sonum we would like to redefine GM as go mainstream eventually we have to make wave three and we have to make wave three as a habit from Hobby today and another things which we would like to do is the btic providing vertically integrated products right now there are bunch of the blockchain bunch of the S provider bunch of the wallets bunch of the and a lot of the people see this industry horizonally for example eum is more decentralized than Sana s is much faster than blockchain C and so on and

the wallet provider said this wallet is better than this wallet this wallet is better than this wallet and so on what I found is generally or generally Ordinary People does not care which blockchain to use they just care about efficiency the benefit and because people see that this industry horizonally the user experience is pretty much uh user experience is very tough for example if I would like to make application I have to use wallet provider B and I have to use vet indexer provider C and no management D company and blockchain E this makes our

experience really complicated and that's why start our company would like to we provide vertically inte integrated product project from blockchain a to application in coming five years and this is something we have been building uh we have been building Asar Asar is currently one of the largest chain in the PO ecosystem and we have ASA zkm which is the eum ler 2 and uh luckily a month ago we deild sonum which is the chain we are creating together with Sonic grp group and uh we launched a we just launched a planand uh 3 weeks ago four four weeks ago and we just launched a test net uh two weeks

ago so it's still a testet phase the mission is to realize the op internet that transend boundaries there a bunch of the boundaries here today such as web 2 versus web 3 Dr world and crypto uh lators and D um and and even more we envision the world where people are using blockchain without knowing blockchain just like internet of today and we we would like to make it happen through a lot of the project through through the collaboration with the community because Community is the king in the web three space so we would like

to make this pie bigger through collaboration not competition and as I said I was strategy is to provide vertically integrated products we also launch started cloud service which allow developers to interact with blockchain uh I don't have much time right now but I would like to talk about ASA a little bit so we started ASA back in 2019 and we have a multiple user today and ASA is the layer one blockchain a poot ecosystem which has unique incentivization scheme called D staking we also launched ASA ZK evm a year ago at the token 2049 last year and

we already announced the transition from ASA ZK evm into sonum so right now we have a sonum and ASA and one of the unique feature is DB staking which is the incentive scheme to incentivize Builders to develop on AAR so we have a block inflation and block inflation goes to Developers and people can stake ASA token on deps on the top of Asa Network then that that's why this is called dap staking people can stake token on DBS and based on the the staking amounts DBS can get the basic income from block rewards I think yeah we are incentivizing the

developers to build on ASA and we would like to introduce this kind of the unique feature on the top of us later maybe you know Creator taking artist of taking these kind of the things Beyond Builders from here and we are also providing started cloud service for sonum and Asar as I said we have to provide vertically integrated experience not only for Builders but also for users and that's why we are making not only the chain but also the The Cloud of uh this is available right now for sonum and arar and you can go to our web page

st.com and you can find information here right now this is for free so everybody can use it and uh we would like to get a lot of the feedback from Builders yeah this is a UI so uh last things I think we are still early stage only limited people are using web3 today but we have to provide the value of the web three for remaining 97% of the people I mean billion with the people and to resell uh we have to provide the product which everybody can use right now blockchain project is something like

this we are making ecdm 2 powered by ZK blah blah blah consensus algorithm you know throughputs and so on generally people cannot understand so we have to provide the user experience we have to provide real product which everybody can interact with and that's why we have been working with the big conglomerates to realize make it happen through distribution Channel and we would like to make this happen we would like to make this pie we three ecosystem bigger through collaboration not through competition after launching the chain after launching sonum a lot of the people approached to me and as me the question who going to be the competitor

what's the strategy how to win against blockchain c blockchain d they are not competitor right so we have to make this SP bigger together so if you are interested in startel and our projects um we have a boost at the five fifth stage uh fifth St and we have a uh you know Twitter and community and so on so if you are interested please feel free to reach out to us and let's make the vision happen together thank you very much for listening