Lessons From TNC Director & Co-founder Jason Jang at the World Metaverse Conference
The 21st century saw one of its most disruptive innovations in the form of blockchain technology. It is here to stay, and there’s no denying this fact. Since the technology’s introduction to the mainstream, multiple use cases have already emerged and have given businesses of any scale from various industries opportunities to become better for society.
Like any other technology, blockchain continues to evolve while the number of users embracing this technology increases. Furthermore, we are already at that point where we ask what’s next for blockchain.
Jason Jang, the Executive Director and Co-founder of TNC IT Solutions Group, attempted to expound on the technology and its relations to cryptocurrency, NFTs, and the metaverse at the World Metaverse Conference (WMC) held on March 25–26, 2022.
The WMC coincided with the World Live Streamers Conference (WLSC), becoming the two of TNC’s biggest events of the year. Both events provided an avenue for blockchain enthusiasts to converge and elevated the discussions on the technology’s impact on the new world.
Greater Technology, Greater User Responsibility
It is not a secret that mass adoption of blockchain and cryptocurrency is being pushed. According to Techjury, 2022 will see an $11.7 billion worldwide spending on blockchain solutions. Meanwhile, Crypto.com projects that the number of global crypto users will balloon from over 300 million to 1 billion at the end of 2022.
Even though regulations continue to prove to be a huge roadblock to mass adoption, the community is hopeful following consecutive reports of nations warming up to cryptocurrencies. However, this change doesn’t come risk-free.
To the uninitiated, blockchain is all about decentralization. But Jason contradicted this thinking with a thought-provoking Ethereum story. “Is Ethereum decentralized? Who’s taking those gas money,” questioned the TNC Executive Director. Jason further explained Ethereum’s proof-of-work (PoW), wherein “people go through the machine, share the profit, share the fee.” Once Ethereum starts the Merge that will change the platform’s mechanism platform from PoW to proof-of-stake (PoS), Jason asked, “who’s going to generate those profits?”
“[Decentralization] is beautiful but not for everything. Some parts — awesome. Some parts — impossible. Because decentralization equals responsibility,” opined Jason.
Indeed, in a decentralized system, all assets will have to be taken care of by the users themselves. And when it comes to investing, Jason emphasized that users should “know the project, know the market, know the user.”
“Know the project really well,” he stressed. “Look at your investment portfolio. See how the money comes back to the coin economy. If the money never comes back, they’re fake.”
The NFT Craze
Jason underlines the importance of being a smart investor. He further touched on this thought when the non-fungible token (NFT) topic was brought up during his keynote. Jason claimed that NFTs are popular today because they are high-risk, high-reward assets. However, users can only get huge returns after “two to three years.” According to Jason, waiting might not be an option as people today are “aggressive” investors.
He further explained that the asset’s popularity stems from people wanting to emulate what the community had with top cryptocurrencies, Bitcoin and Ethereum. Experts call this the unpredictable adoption of new technologies.
Jason believes the trend would not be the same for NFTs:
“We saw Bitcoin. We saw Ethereum already. We want that again. NFT will not bring that to you.”
This is because of the high price of NFTs, Jason explained. And due to this steep entry to NFTs, accessibility is limited and expensive, unlike the first tokens during their initial launch.
He further encouraged investors that no matter how many concepts blockchain technology introduces, they should not immediately “put their money in” and try to study the technology first.
Blockchain Meets Research
Surveys are all about providing hard numbers — numbers based on the public’s opinion and behaviors that can be used for important decisions. May it be for news, business, or politics, surveys play a huge role in quantifying people’s individual views and experiences. However, we sometimes want to take it easy and get asked about the other little things that are important to us. This is where Real Research comes in.
Real Research, or simply RR, is a blockchain-based survey platform that caters to businesses’ research and marketing needs and was one of the highlights during the WMC and WLSC, as noted by Jason. Aside from the usual survey purpose, RR also covers topics, including pop culture and other trends, that hit every demographics.
RR boasts features that include:
Targeted platform that hits every demographic, from certain age groups, and gender to area, to make the survey more effective and accurate.
Secure feature guarantees a safe environment for users, thanks to the inherent protocols of blockchain technology and smart contracts. User data are shielded from threats, and survey results are unaltered.
Cryptocurrency integration makes the data gathering process more “fun.” Sponsors purchase tokens that they put into the platform. Users then will get some of these tokens through airdrops when they participate in surveys.
Real-time research enables efficient and cost-effective data collection. According to Jason, clients can get their results in just “one to two days.”
Video banner advertising allows for effective marketing while respondents answer the survey and wait for their tokens. “People might click it. They might buy it,” Jason added. The advertising may come in as either a video or a link to a landing page.
Public and Private surveys offer more options to users. While public surveys target anonymous respondents, private surveys send questions to a personal individual. Users can simply ask a “friend” a single question through a private chat/like survey.
These features can be customized based on the client’s goal for their research.
As the main sponsor of the Miss Supertalent 2022 of the World 2022, TNC also used RR as a voting platform wherein users cast their votes for their candidate of choice. Voters were airdropped tokens after.
The Metaverse and Jason’s Last Piece of Advice
We can easily turn to our search engines to look up the definition of the metaverse and what this virtual world means for our future. WMC definitely gave its attendees a glimpse of what it is and what it could be. The event also became an outlet for one of the most interesting metaverses takes that came from international broadcaster and WMC host Dave Crane.
“Metaverse is more about the opportunity than anything,” answered Dave when asked by Jason his definition of the virtual space. “It feels to me like it’s in a growth spurt, but at the same time, it’s like the Wild West. You go out and create the version that you want.”
Whatever metaverse is to anyone, Jason stressed that we “are in it,” the same way we are “in” the blockchain adoption. Interestingly, Jason also revealed that TNC is already developing its own 2D “text” metaverse.
“Everyone can write a diary or biography and put it into the centralized server,” explained Jason. “All those text stories will get mingled. And then we make a database that people can go back to. Change the story and the whole life will change without [costs] because it’s only texts.”
A 3D metaverse can potentially be in development following a successful run with the 2D metaverse.
Circling back to the phenomenon where the public, especially the new investors, only see cryptocurrencies as a means of earning, Jason said the innovation is deeper than what it is perceived.
“Don’t think of [crypto] as trading only. Crypto was the tool for blockchain. When we do blockchain and tried to reward something, we needed to come up with some digital assets. That’s how Bitcoin came. That’s how Ethereum came. That’s how my TNC came. It’s not about gambling. It’s not about a pipedream. Crypto is the future but not so fast.”
He further explained that once the nation’s higher power, i.e., authorities, fully let the public embrace cryptocurrencies, then “we can enjoy more” of what this advancement may bring us. Until then, Jason encouraged the audience to “have fun” with some altcoins, but he underlines again not to put all the assets.
While metaverse, NFTs, and cryptocurrencies serve a distinct purpose, they share and contribute to the benefit of the other. And just like how each contributes to the other’s growth, TNC Group will be here to make sure to utilize blockchain technology to build better communities.
Click “👏” as much as you like if you enjoyed this blog.
Know more about TNC Group by following our official channels.
Facebook | Twitter | LinkedIn | Instagram | Telegram | YouTube
