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More than 3 billion people around the world benefit from Web 2.0, everyday. From static desktop pages for basic things like information consumption to user-generated content and interactive experiences, we have come a long way. The 3 core layers that have been driving the rise of Web 2.0 are mobile, social and cloud. As internet access broadened, social network usage boomed, and platforms that enabled people to share images online and rent homes made lives easier.

The first episode of AWS Nexus Catalyst had Pratik Poddar, Siddhartha Ahluwalia, and Edu Patel, discussing the rise of Web 3.0, blockchain and its benefits, cryptocurrencies, and decentralized finance.

The state of staying connected always is slowly beginning to pose problems which Web 3.0 is trying to tackle. A major leap forward, Web 3.0 is ushering in community-owned, open, and permissionless networks with decentralized ownership at its core. The tech innovations fueling the rapid growth of Web 3.0 are edge computing, decentralised data networks and artificial intelligence.

“How local groups of people can come together around projects and problems, try and assess how large value can be created by solving those problems and as a result of that generate value for themselves is what Web 3.0 is all about”, shares Edul Patel.

A multitude of digital platforms that are interconnected and can move data between each other, thereby creating a world that is valuable for all involved — Blockchains are being developed by many companies and the stakes are high. Ethereum is still holding its position as the leader of the pack, but it requires massive scaling solutions to be able to handle whatever Web 3.0 comes up with.

From making Bitcoin accessible to leveraging the power of NFTs, founders of various platforms shared what’s important to them, the challenges they’re facing and what they’re bringing to the table. The founder of BlockSurvey, a Decentralized data collection platform that enables privacy and security with a focus on digital rights shared that with growing Social Media usage it is extremely important to have data privacy, at least when it comes to sensitive data.

Founders who spoke about their businesses and the growing markets for crypto and blockchains:

1. Harish Bv, Co-founder, Unocoin
2. Wilson Bright, Co-founder, BlockSurvey
3. Mohammed Roshan, Co-founder, GoSats
4. Emmanuel Digal, Co-Founder, Vibranium™
5. Vikram Subburaj, Co-Founder and CEO, Giottus
6. Mohit Madan, CEO and Co-founder ,Oro Pocket
7. Arush Yadav, Co-founder, Green Sat

“The smartest people in the country and the world are innovating, they’re trying to solve the problem and taking one step towards the right solution. It sounds messy and it looks messy today that there are so many products, so many chains, so expensive and complicated. But, interesting solutions are coming out”, said Pratik, Principal, Nexus Venture Partners.