#31 Untangling 2023: The Web3 Review

In this year-end review episode, the hosts recap the major themes and events of 2023 in the web3 space. They kick off by discussing the significant impact of AI, notably Chat GPT, and its role as a game-changing application in making AI practical and understandable for users. The hosts emphasize the synergy between AI and blockchain technologies, particularly in tackling issues like data sovereignty and privacy.

The conversation then shifts to the financial landscape, highlighting the recent banking collapses, including the fall of Silicon Valley Bank and its ties to crypto assets. This has sparked a growing interest in distributed cash systems and decentralized alternatives to state-controlled money. The hosts also discuss the challenges facing traditional financial systems, evidenced by layoffs and a shift towards AI in the web3 industry. They note the growing pains of web3, including regulatory actions and fines, particularly in Western countries, and acknowledge Ethereum's transition to proof of stake as a crucial development addressing environmental concerns.

In the latter part of the episode, the hosts delve into various topics within web3 and crypto. They contrast proof of work and proof of stake in cryptocurrencies, mention the rising institutional interest exemplified by Blackrock's ETF approval, and explore the tokenization of real-world assets. Despite hypocritical statements from traditional finance figures, they note a secret investment in the crypto space.

The concept of the metaverse, especially with Apple's entry with the Apple Vision Pro headset, is discussed, suggesting a shift in focus towards utility-focused projects and NFTs. The hosts conclude by reflecting on their podcast journey, thanking listeners for their support, and promising more exciting content in 2024, with a festive wish for a happy Christmas.

Untangling Web3 is brought to you by hosts Jack Davies and Alec Burns, with music by Daniel Paigge. Got a question or topic suggestion? Send us an email at [email protected].

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The views we express here are our own, and do not represent the views of our employers. Nothing discussed or stated in the show should be considered advice.