Benzinga - Dr. Ben Zhang, a former JP Morgan banker and co-founder of NodeReal, is encouraging startups, entrepreneurs and developers to embark on their journey in the cryptocurrency market.
In an exclusive interview with Benzinga, Zhang, who spoke at Crypto Expo Asia this month, emphasized that the blockchain industry is still in its nascent stages, making it an opportune moment to dive into the crypto world.
He attributed the downturn in the crypto market to a lack of innovation. "So far, I think business innovation for some specific area is very good but there are lot of areas which lack innovations," he said.
"I think crypto or, Web3 or blockchain is still in the very early stages. It's the perfect time to start your journey as a startup, entrepreneur, or developer in crypto. You can learn some of blockchain's fundamental technology and some of Metamask's wallet management," Zhang said.
Discussing the movement of the cryptocurrency market and investment, Zhang said crypto should be looked at as a long-term investment and is an excellent option as blockchain-based technology is growing.
"We should put more money in the crypto market and look for long-term investment. Crypto and blockchain are still getting a lot of attention. Now we have so many different regulatory frameworks, and it helps improve the downturn movement of crypto," he said.
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When asked about the stringent regulations on the crypto market, Zhang said, "I don't think too many regulations cause a downturn. The downturn is caused by many factors, including the macro economy's instability worldwide. But there are so many regulatory frameworks, and it's very difficult to follow."
Speaking on AI in the crypto industry, Ben said that AI is becoming very popular and that AI, along with blockchain, is a perfect combination for the future of Web3.
Talking about the advent of Web3 and its implementation, Zhang said, "Web3 marks the next significant advancement in the evolution of the internet. Building upon the foundations of Web1 and Web2, which introduced user interaction and social media, Web3 represents a transformative leap forward. Powered by blockchain technology, NFTs and cryptocurrencies, Web3 is set to revolutionize the online landscape."
When asked about the Web3 gaming industry, Zhang said, "Web3 environments are revolutionizing the gaming industry by enabling the creation of video games that utilize blockchain technology. Through these games, players can leverage the power of non-fungible tokens and token rewards within the game to earn profits."
"A key driver of value in Web3 gaming lies in ownership and control, particularly emphasizing decentralization. This paradigm shift attracts gamers who seek to turn their passion for gaming into a viable source of income within the Web3 ecosystem," Zhang added.
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