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Web 3.0 Will Drive Decentralized Business Models, Says Blockchain Exec

Kevin Chou, CEO and co-founder at blockchain ecosystem Rally, believes that blockchain expertise could lead on the cost towards a digital financial system within the net 3.Zero period.

Speaking at Unitize on July 6, Chou, who can be concerned with the companies Kabam, Forte and Gen G, stated that content material platforms ought to transfer away from the previous enterprise mannequin of net 2.Zero that consists of the platforms taking a big portion of the income.

Instead, corporations ought to create a brand new and decentralized enterprise mannequin that favors influencers, creators, and “give away the governance to the group,” stated Chou.

He added, “The net 2.Zero period of enterprise fashions was very a lot about how I construct a really massive platform and provides away the service at no cost however accumulate a bunch of that information. […] I’m stunned, and there are numerous nice worth companies which were created, however we’re additionally seeing the drawbacks to that at the moment with the shortage of privateness, lack of management of your personal information, and lack of management over the economics as a result of it’s primarily advertising-based.”

“I think a lot of the new blockchain projects and web 3.0 projects are all about how we create something that will eventually be decentralized. I think the space started with everything that needs to be decentralized from the beginning,” Chou concluded.

Bitcoin pioneering the idea of decentralization

Chou believes that Bitcoin (BTC) “did a great job of pioneering” the dialogue about decentralization by making folks and companies conscious that decentralization is possible, including, “But we additionally see now that there’s a path established by initiatives like Compound and Maker, and plenty of different DeFi initiatives.”

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