CEOs and leaders in the banking industry discussed the impact of emerging technologies and innovations on financial service including the development of new decentralised operating models and Web 3.0, the third generation of the internet.
The internet has witnessed some major disruptions, from offering read-only, static content at its inception to much more more dynamic, interactive, and decentralised experience now.. Web 3.0 is evolving with , innovations in decentralised finance (DeFi), blockchain, cryptocurrencies, and distributed ledgers as its foundation. In December 2021, the total market capitalisation of cryptocurrencies stood at $2.2 trillion while the total locked value in DeFi protocols grew by over 1000% year-on-year.
The financial service industry is accelerating the adoption of Web 3.0.
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