Yat Siu, the mastermind behind Animoca Brands, delivered a captivating speech at the WebSummit Rio event on April 16th. The panel discussion he participated in, titled “Bitcoin’s Revenge: Is Web3 Making a Comeback?”, explored the future of Bitcoin and the impact of Web3 technology.
During the panel, Siu confidently predicted that Bitcoin (BTC) will eventually soar to a staggering $1 million. Cointelegraph Ambassador Kristina Lucrezia Cornèr skillfully moderated the discussion, with Ripple president Monica Long also joining Siu on stage. Long stressed the significance of the crypto market’s development, asserting that it holds more importance than the price of Bitcoin itself.
Long commended Brazil for its dedication to crypto advancement, stating that the country is one of the leading pioneers in this field. Cornèr highlighted the empowering nature of Web3, emphasizing how it allows individuals, especially those with limited options in society, to gain control and agency. She passionately expressed, “Web3 gives power to the people.”
Long then shifted the conversation towards Web3’s growth and maturity. She confidently stated that this year, Web3 companies will exhibit a higher level of maturity compared to previous market cycles. Furthermore, she pointed out that this maturity is evident in the increasing institutional adoption of Web3 technology.
Siu, however, redirected the focus towards financial inclusion and its impact on blockchain and Web3 games. He stressed that this aspect holds greater importance than institutional adoption. Siu firmly believed that blockchain has the potential to revolutionize financial inclusion and create a more inclusive and accessible gaming ecosystem.
In regards to spot Bitcoin exchange-traded funds (ETFs), Long revealed that Ripple is collaborating with banks and payment companies worldwide to utilize blockchain as a foundational layer for enhancing global financial transactions. She expressed her fascination with the growing interest from banks in the crypto market, and pondered on ways to ensure regulated exposure to this market.
Overall, the panel discussion shed light on the future of Bitcoin, the potential of Web3 technology, and the importance of financial inclusion in the crypto industry. The insights shared by Siu and Long left the audience inspired and hopeful for the future of the digital economy.
Source: WebSummit Rio
English translation assistance provided by Derek Andersen.