Building Trust in Web3 | European Blockchain Convention 2023

foreign [Music] policy in France for more than 200 years now and I'm also the chair of in advance and National Association for trusted blockchain application based in in Brazil in case the depot we have dedicated the team working on the the subject of blockchain and crypto since 2015 and we do that because we identify that this those Technologies had a transfer for transformative potential that could not be ignored and also because there is some strong Southern sovereignty issues for the European economies and so we believe that web3 is an opportunity to be sized but we need to build trust in the ecosystem and first of all perhaps what for us it's it's web tree wept is a new paradigm to that bring together several existing Concepts decentralization we sometimes blockchain technology is a heard of the system but not only tokenization of goods and services a change of ownership model and now people manage their key their assets and all properties in in nfts for example and a point that it's really important for me you see it also it's a collaborative economy all the actors work together in the chain of of value and a lot of development are opened Source already so the community can grow faster together but in the decentralization world we we need trust all not only in this in the web tree but we will need rest and citizen will be in charge on their own assets and it's mean that they can lose their key and they can get robbed also there's a lot of security solution here and it's good it's a good thing but it's not sufficient and we need to be trust in the actors of the ecos between doctors in the ecosystem and it will be happen for us in in uh will treat things the first one I think it's really important that at that time for the ecosystem is to focus on useful use case in the real world building a balancing balance it regulation and investing long term in the ecosystem all is not happening in in few months or on few years we we see all that we are working for now many years on the system and the model is not a stable for the moment and if we focused first on the useful on useful use cases in the real world we see that the recent event with FTX and not only FTX was an example of what a bad company management can do and also how we can be how disconnected to the reality of that that was this business so we need more transparency on that and it's one of the main principle of the business of the blockchain technology and so we should also Implement transparency and good governance in the companies of the ecosystem I think it's a it's a key point and secondly we need to focus how useful The Innovation are to the customers the user and the system the the citizen it's our I think for all of us of our first clients so it's really important to be focused on that and The Innovation is going fast so fast in in this world um and one of the points is that and I remember last year here we have a New Concept every day and I remember June uh there is some room table on finance and we are talking about traffic C5 cd5 so okay and and I when I began there is only a Bitcoin and after ethereum and we discuss about ICU and after Stu and blah blah blah and I think it could be useful also to be focused on some subject that will work and we try to develop some some points that are really working to go to the next one because what it seems for for corporate on Executive in uh in companies like like mine if they feel that all these new Concepts are here to forget that the previous concept is not working and really it's very bad because it's not that it's like a it's not it's like that you are in the world with children and the children your child is said to you something and you understand that you are not really convinced by the thing so you will go to the next thing and try again it's not really serious and you cannot well will trust with that so we need to be globally with the ecosystem focused on the burn that could work find the good business model but and and be concentrate on that point and what happened is that many companies mentioned that they have time to Market program so we need to have to grow a market before launch new services and we are running on something that don't work so we also need to educate to onboard Partners to onboard customers and for companies like us to onboard the top management and it's not only it's not always really easy because what so the top management or the the government or the regulatory regulatory Parts always is the pain point it's all the the best that was done for example on FTX or other things thank you I really I need to go quick um and uh another pain point I think it's that there is not many corporate companies in this room and if you want to success we need to work all together with corporate companies small companies and not only um uh crypto companies and we need to to to break this bubble my second point was building a balancing regulatory framework in in Europe and we are working on that with Mika I think it's a good first point working together with the European commission with the Parliament and for example with inadba we interact with the regulator and the policy maker and only on um and and with something that we named the government advisory body that represents different International institutions Ministry and and orders and we simply submitted 10 proposition to Amanda Mika text and now we have eight of our proposition adopted and to do that we work with all the kind of members and it works like this so um and there is not only Mika on the subject of web 3 but the importance for example of the yedas version 2 on all the topics of digital identity the the law that we launched for example the e-wallet for for our 24 24 is also important all the the new discussion that can appear on the nft and metaverse so could be a good issue to to go in a in a good way and I know because my time is content very well but Stanis lasted finally another point is to invest in the long term to the ecosystem we need to to get now we know that the the market is instable and speculative and we need to work on a long-term perspective it's what we are doing in case the depot because we are very very old company always working like this but we need to have that also in in other entities and corporate for that you need to have investment in team investment in project and not looking only on a on the return on an investment on on few months and fewer fewer because it will not true and if you look at the the recent study of the gardener you will see that they said that maturity will we will have maturity on only on on six or eight here on on web3 so it's a very long term commitment for uh for people who are looking for a return on investment and for even big Industries is very long at this time so it's time or it's okay I can go on okay so web3 is something that there is a lot of concept in I think we have some keys in Europe to to win we have some keys to make web treat trusty for trusted for for people and even for a citizen and we have opportunities to be a champion and my final point just my final point it's we're not to not forget one point that it's just very important it's not to forget the uhg aspect because the the climate change is a very good point and we we need to have a resilient ecosystem for the long term and regarding also the impact on the social impacts of our Innovation including all the people and the climate change thank you foreign thank you