There are 2 generic types of hunting; 1st is stand hunting; based on its name, this type of hunting is simply standing or being planted in a strategic location that makes you catch your game. The 2nd type, “still hunting,” is more brutal. The exact opposite of the 1st one. The hunter employs a high level of skills in tracking, mapping, adapting, interpreting sounds, camouflaging, and inserting controls into the environment to get to the prey or induce the prey to be cornered.

What type of hunter are you as you hunt for your desired future? The old world predicts and reacts to the future. But the new generation, the.. world technocrats, social deviants, mavericks, and outliers, these community “hunts” for it and track the proper path towards their desired future.

In the 3rd Iteration of the internet, where Blockchain drives the system to prioritize decentralized clusters to grow, DeFi Apps are to emerge beyond banking and finance, Metaverse entities, AR players in healthcare and design, AI in business and sciences, and more than will promote the healthy peer-to-peer relationship which is a new engine for income generation and content proliferation.

Where are we?

So, where are we in the hunt for our future? And based on the current status, are we in the zone already? That will take us to Southeast Asia and some parts of Asia.

When eCommerce boomed in Southeast Asia, it was quickly accepted though cautiously, because Southeast Asia already has a mature market of smartphone and mobile applications users; this allowed the likes of Grab, Shoppe, Alibaba, and even Amazon to introduce digital payment systems on top of the already-accepted online payments through credit cards and the like. As a result, the market is already comfortable with the type of transaction and is growing rapidly as younger generations step in and pressure the norm. This openness is a boon to emerging DeFi and Blockchain-based players, mainly consisting of remittance businesses through swaps and trades.

If you know PDax (Philippines) and coin98 (Vietnam) which are now integrated with PancakeSwap, and Bholdus, these are the pioneers among many that weren’t mentioned. As European and American Markets stand still, Southeast Asia is getting more and more attention than it deserves.

What kind of terrain are we headed to?

Wild jungle; indeed, we are in a testing time full of tricky and wrong turns. Recession becomes cyclical to more laymen and the younger generation as it has been compared to other more modern economic models and the understandable grim result it produces from the national level of the economy to each and everyone’s households’ spending and prospects of having none for dinner tonight or the coming nights.

Institutions and more independent players from the old and emerging worlds are doing their best to beat the inevitable worst. Big banks like JP Morgan Chase, Morgan Stanley, Goldman Sachs, BNP Paribas, Wells Fargo, and more.

Interestingly, Web2 is about centralized power, where content and data flow are usually under the control or influence of big players like Facebook, Google, and the like. These big banks are struggling to find an area of relevance to make good business still the way they used to. Web3 brings the power of content and flow to the people.

As more attention pours out for cryptocurrency in its propensity for fraud, more attention is also given to other applications of Blockchain and this global economic uncertainty; Blockchain is expected to produce significant use cases for different industries that will further emphasize the growing significance of Blockchain and web3.

The good news still is that it has started to grow already. Singapore alone has 400+ DeFi or Blockchain start-ups. Also noticeable is the influx of Western investment into Asian blockchain/DeFi companies; the best example is Mark Cuban’s investment in Polygon (India). In addition, the regional company, Emurgo (blockchain company), has set up shops in Japan, Singapore, and India.

In terms of non-blockchain, WIR Group recently went public (IPO) on the Indonesian Stock Exchange just last April of 2022, and as emphasized, under its umbrella is the AR&Co which is heavily focused on Augmented Reality businesses that target to grow in more than 20 countries worldwide. So right now, the hunter is still tracking down the prey, our hunter is still on tricky grounds, but the scent and signs indicate we are on the right path.

Are we there yet?

No. We are not seeing the horizon yet. Web3 considerably is still a baby. We still have to address some concerns that are unique to decentralization. Some of the notable concerns are the lack of UI-friendly designs, a coding-oriented facade to avoid downtimes, and of course, data security as well, since the full ownership or custody of the data or content lies with the user “alone,” so no central body to oversee and make sure no one oversteps.

Web3, with Blockchain as its foundation, is an important development in our ever-growing need to discover more with what we have in our process, creativity, and potential to create value. In addition, this helps eliminate inefficiencies in many economic, banking, security, and social systems that, due to their flaws, have presented some problems we have been experiencing on a cyclical or seasonal basis.

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