In this exclusive executive interview, Tony Witt interviews Anoop Nanra, Co-Founder and CEO of Trugard Labs. The two discuss the differences between Web 3.0 and the Metaverse, the adoption of these technologies, and the CXOs should present their future strategies.
01:15 – The difference between Web 2.0 and Web 3.0 is that Web 2.0’s goal was to “empower creators to build amazing things and generate a sense of economic freedom,” while Web 3.0 takes that to a whole other level. The full scope of Web 3.0 is a reflection of how it enables complete ownership and control over a business. The true potential of Web 3.0 will be revealed when “sovereign self-identity becomes a big push”, something that still has a steep learning curve.
03:04 – Web 3.0 can be described as an umbrella term. One way to think about this concept is a revolution move towards decentralized, stateless and unreliable databases, rather than central service providers. Toni Nannra asks what strategy major cloud service providers are taking in viewing Web 3.0 as a movement towards decentralized databases.
03:59 – Web 3.0 and decentralization blockchain Technology breaks the mould. The cloud can be seen as the antithesis of blockchain and decentralization. Nannra anticipates that super cloud scaling tools will double down on how to attract more developers who will cater to decentralized and blockchain developers. This leads to the question of how these super interns are going to build their blockchain services. The primary task of cloud service providers is to make it easy for people to build their own capabilities.
08:16 – We’ve been living in the Metaverse for a long time, Nannra argues, and anyone who’s played video games has been a part of it. the difference between Web 3.0 and Metaverse is that Web 3.0 is built on the premise that it has a very strong self-sovereign identity model. This idea of being able to transfer entire assets between environments is going to be really critical within the Metaverse moving forward. According to Nannra, the Metaverse has not yet reached the level of portability necessary for wider adoption of the Metaverse.
11:21 – in Cloud Wars GalleryNannra took the position that it was too early for companies to approach the Metaverse and capitalize on fundamental trends within the space.
11:41 – Metaverse is the first friction app immersive experience, although the world is still in the construction stages. The long-term goal of any Metaverse environment should be to enable anyone to be a market maker and determine the economics of what they produce. There must be countless business models in the Metaverse, but Nannra feels it’s too soon for companies to fully show up in this space.
15:00 – Organizations face challenges in their approach to technologies, such as Metaverse, because the learning curve is pretty steep. Awareness and education about these technologies hasn’t happened yet for Fortune 500 companies. Most of the money for the Metaverse revolves around marketing, which means that organizations need more time to learn about them. Nana suggests we’ll be in a good place once Leaders in the Metaverse space Explain the risks and setup process to interested clients. For now, the Metaverse is still very technology-driven Space and its adoption is still very low.
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