February 25, 2024

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Taiwan Exploring Web3 Impact on Digital Evolution

The Ministry of Digital Affairs (moda) is gearing up to unveil the revolutionary capabilities of web3 technologies and their profound impact on the digital train. To achieve this goal, moda is set to take centre stage by initiating not one, but two highly anticipated and thought-provoking web3-themed events.

The essence of these gatherings lies in their commitment to shedding light on the transformative power inherent in web3 technologies and how they are poised to reshape the fabric of digital existence. The digital era has witnessed a significant shift from the one-way information flow of web1 to the interactive web2, marked by the rise of social media platforms.

While web2 brought convenience, it also introduced privacy breaches, data misuse, and algorithmic content filtering challenges. Web3, built on blockchain technology, emerges as the next-generation internet service model that promises enhanced privacy and security, fostering a fair, open, free, and secure online environment.

According to moda, these events signify more than just an exploration of web3 technologies; they represent a pivotal moment in the nation’s collective journey toward a digitally transformed future. moda’s commitment to pioneering these initiatives underscores a recognition of the potential that web3 holds in revolutionising the digital landscape.

The initiative of industry enthusiasts and the broader public to partake in the evolution of the digital society, forging a path towards a future where innovation, security, and collaboration harmoniously coexist.

Taiwan believes that the Web3 innovation, rooted in blockchain technology, is poised to revolutionise the digital landscape, bringing about transformative changes with far-reaching implications. At its core, Web3 offers enhanced security and privacy by decentralising data across a network of nodes, reducing vulnerabilities to cyber threats and providing users greater control over their digital footprint.

Decentralisation is a hallmark of Web3, eliminating intermediaries and enabling trustless transactions through smart contracts and decentralised applications (DApps), fostering transparency and efficiency.

A pivotal shift in ownership dynamics occurs as Web3 introduces true ownership of digital assets. Users gain control over their data, digital identities, and virtual assets, empowering individuals and creating a more equitable digital ecosystem.

The concept of interoperability is integral to Web3, promoting seamless connectivity and interaction across diverse blockchain networks and protocols. This interconnectedness encourages global collaboration and innovation, transcending geographical boundaries.

Tokenomics, an intrinsic aspect of Web3, introduces native tokens to incentivise participants in the ecosystem, creating new economic models and fostering a self-sustaining digital economy. Web3’s emphasis on community governance, facilitated through mechanisms like Decentralised Autonomous Organisations (DAOs), allows stakeholders to actively participate in decision-making processes, promoting democratic and inclusive governance within digital platforms.

The importance of Web3 innovation lies in its capacity to future-proof digital infrastructure, empower individuals by giving them control over their digital assets, and drive economic growth through innovative business models.

Web3, through its disruption of traditional governance models and promotion of worldwide collaboration, lays the foundation for a digital future characterised by resilience, inclusivity, and user-centricity.

Positioned as a catalyst, Web3 reshapes the digital landscape by emphasising the paramount importance of security, decentralisation, and user empowerment, envisioning a paradigm shift that not only addresses existing challenges but also propels the digital realm towards a more dynamic and equitable future. Hence, Web3 charts a course for innovation, placing control in the hands of users and fostering a renewed sense of trust and transparency in the evolving digital ecosystem.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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