The concept of Web3 and its existing ecosystem is almost always seen in association with the digital asset space. As a way to better understand Web3, it’s important to discuss the evolutionary development of the internet through stages of Web1 and Web2 respectively. Web1 represents the inception of the internet in the early 1990s, where […]

Aside from being the backbone of the digital asset community, blockchain technology goes beyond servicing monetary coins and presents unique opportunities for multifaceted utility. Since the end of 2019, the Chinese government has been working in partnership with a host of private companies on a blockchain-based service network (BSN)—similar to a blockchain-run internet. The founding […]

In April 2024, the Bank for International Settlements (BIS), in partnership with seven central banks and private industry firms, announced a pilot program to explore the potential that tokenization, smart contracts, and “programmable platforms” have to offer traditional monetary systems and financial infrastructure. This collaboration, named Project Agora, will build on a BIS proposal of […]