By Anne Morris

Blockchain expert hails mobile role in Web3 evolution

The mobile industry is a critical part of the adoption of decentralised infrastructure and programmable money by developing user-friendly devices and interfaces, according to Zied Brini, Delivery Director for EMEA at blockchain software technology specialist ConsenSys.

Brini explained that these interfaces are either at a hardware level, with integrated physical ledgers, or at a software level, with secure and easy-to-use applications. “Mobile is necessarily intertwined with the rest of the Web3 evolution,” he said, where Web3 envisions a new iteration of the World Wide Web based on blockchain technology.

Latest themes in blockchain concern decentralised finance and non-fungible tokens (NFT). Here, Brini said “we are only at the discovery phase of what is possible”.

With regard to NFTs, Brini noted that it has become popular in the art and gaming ecosystems recently. “However, any industry prone to fraud challenges can leverage NFTs to gain efficiency and security,” he said.

Brini added: “More industries will adopt NFTs to streamline their business processes, especially financial services and supply chain NFTs … For the NFT native businesses, NFT 2.0 will offer more features, such as NFT rental, co-ownership, royalties management, nested and customised NFT. The ecosystem will push further the potential of this technology.”

In terms of decentralised finance, Brini noted that the “frontier between centralised and decentralised finance will become blurry; centralised actors will use more widely decentralised infrastructures. We will probably see more use cases to balance traditional finance with decentralised finance and retail cryptocurrency.”

“Many financial activities will reinvent their way of operating. The field of possibilities is vast,” he said.