#54 - Is Web3 a New World or New Economy?

Nov 30, 2022

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In the fifth episode of our new season of Web3 Innovators, our host Conor Svensson is joined by Prof. Dr. Philipp Sandner who founded the Frankfurt School Blockchain Center (FSBC) at the Frankfurt School of Finance & Management.

The Frankfurt School Blockchain Center (FSBC) was launched in February 2017 and analyses the implications of blockchain technology on companies and business models.

Philipp was ranked among the top 30 Economists by FAZ, a major newspaper in Germany. He was also in the ‘Top 40 under 40’ ranking by the German Business Magazine, Capital.

Episode highlights:

How Philipp started Bitcoin as a hobby, before setting this up within the University
Can Bitcoin be framed as a commodity?
Whether Bitcoin and Ethereum are decentralised assets
Exploring new developments in the Web3 domain
How recent FTX Exchange activity has affected the crypto market
Why Philipp believes companies have struggled to get into the Blockchain and the workaround for this
The pros and cons of regulation in the space
Philipp’s view on legacy vs new networks
How new technologies are changing the way we work and who comes into the space

Key Takeaways:

As years have been passing, I think we can say that we are now regarded as an institution, as a think tank, educating people in the field focusing on all these topics, including Bitcoin, a couple of crypto assets projects and also focusing on stable coins and so on. - Philipp
Even Bitcoin is not fully decentralised. You have some central aspects there as well. But from all that we know, I think Bitcoin is by far the most decentral asset out there. - Philipp
It's a little bit sad for Bitcoin, because Bitcoin was never the problem this year. Bitcoin was something like the victim, it has been dragged down, like synchrony with other assets. - Philipp
In the token ecosystem, in the crypto ecosystem, there are also approaches popping up with regard to Web3 in the metaverse which will be really changing the world. - Philipp
Corporations have had huge difficulties getting into the blockchain ecosystem. They try to apply this technology like any other enterprise technology, but blockchain is different. - Philipp
Blockchain creates new economic areas which haven't been there, and therefore, they can't be one to one compared to existing legacy domains. - Philipp

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