#16 | Vietnam and a strong transformation in the digital economy – Guest Dr. Chen, Vice President of Qualcomm
From the perspective of a Web3.0 researcher and investor, Donatus Zu Schaumburg-Lippe – Hereditary prince of Schaumburg-Lippe & 3.0 Labs founder has identified Blockchain in general, specifically Web 3.0 in particular, It is a new economy that can change the future of the world.
The Next Power’s special episode will be the story of how Vietnam can develop this potential new economy in a sustainable way.
Hereditary prince of the German Royal Family Donatus zu Schaumburg-Lippe is the son of Prince Alexander zu Schaumburg-Lippe and Madame Marie-Luise zu Sayn-Wittgenstein-Berleburg. He is also the only German to pass training at the Royal Military Academy Sandhurst, the military school attended by Prince William, Prince Harry (United Kingdom) and other royals.
Besides being a former Officer, he also co-founded 3.0 Labs with a mission to bring this technology with innovative solutions accessible to more and more people around the world. As a member of the House of Representatives of Schaumburg-Lippe, he is also tasked with maintaining the Bueckeburg Palace Museum.
In 2020, Donatus zu Schaumburg-Lippe researched technology that could incorporate antiviral agents into garments. Recently, he, along with other volunteers, distributed relief goods in the village of Medyka to aid the affected people during the war in Ukraine.
The Next Power Talkshow has just had an unexpected first-time interview with German Royal Hereditary prince Heinrich Donatus, hosted by Le Tri Thong. – Vice Chairman & CEO PNJ. Donatus is also the co-founder of 3.0 Labs, a research and development studio for blockchain ventures.
Over the years, international investors have flocked to Vietnam and established blockchain-focused investment funds. The amount of capital invested in NFT assets also skyrocketed from $37 million to $4.8 billion in 2021 (according to Finder). According to experts, this is because 6.1% of the Vietnamese population has interacted with assets utilizing blockchain technology. This number is anticipated to triple by 2030, making this market profitable. In 2021, Vietnam is also among the countries with the highest adoption rate of cryptocurrencies (according to Chainalysis).
“Developing countries have a much greater opportunity for Web 3.0 than Western countries.” “Western countries have so strong infrastructure that it becomes a barrier to deployment. new things,” said Donatus.
Web 3 is understood as the third generation of the web in which users can participate in the administration and operation of web protocols in a decentralized manner, as opposed to the second generation web in which only users or customers of large companies could do so.
Web 3 enables anyone to safely interact, lend, invest, or buy and sell across borders without knowing their counterpart, thanks to blockchain technology that facilitates the exchange of information and assets. In a secure and unchangeable manner. Web 3 and blockchain make it possible to conduct transactions at a faster rate and facilitate more interactions between individuals.
“From a macroeconomic standpoint, I would argue that eliminating or automating the elements of governance from the past can help us get through crises and recessions much more quickly than in the past,” Donatus emphasized.
According to Donatus, the success of blockchain application games, specifically the Vietnamese-made Axie Infinity game, has paved the way for the rapid development of NFT and metaverse technologies in Vietnam.
The game is only the beginning for Web 3; in the future, there will be a great number of blockchain and Web 3 application-based projects. For Web 3 projects to be successful, says host Le Tri Thong, there must be sufficient capacity to serve the international community from the very beginning.
In addition, the hereditary prince encourages engineers and entrepreneurs involved in this field in Vietnam to abandon short-term project thinking and instead think about building long-term values for the company. community.
“Don’t think about making money quickly, it will destroy the industry. What you need to focus on is how to help people in your country,” Donatus emphasized.