Our founder and experienced solicitor, Lisa McClory, has been invited to be a mentor for the Two+Two hackathon hosted in Manchester, UK, and generously sponsored by the leading US-based cryptocurrency exchange platform, Coinbase. The enthusiasm and talent among the student teams exploring the possibilities of Web3 is genuinely inspiring, and we're privileged to support them in their explorations.

The Web3 Shift: Potential and Challenges

Digital assets and blockchain technologies, like the internet, are here to stay. As we move beyond an early era focused on speculation, it's important for society to consider the significant potential of cryptoassets. They represent more than digital currencies – they're tools. Focusing on their transformative capabilities reveals the true promise of Web3.

Unfortunately, misconceptions remain prevalent. Blockchain is often unfairly depicted as an environmental hazard, despite innovations like Ethereum's switch to Proof of Stake significantly reducing its energy footprint. This underscores a key aspect of innovation – it evolves to improve. We should approach the possibilities of cheaper, faster payments, financial inclusion, and economic empowerment enabled by cryptoassets and other digital asset types with an open mind, ultimately respecting the choices of an informed market.

Web3: Beyond Finance

Web3's transformative potential extends far beyond financial applications. Consider its potential for disaster relief, where traditional systems often struggle. Crypto-powered solutions could deliver aid on a global scale with far greater efficiency.

Some remain skeptical, believing money requires governmental backing to hold value. However, history shows that money is essentially a shared system of belief. If a sufficient number of people agree on an item's value, that value becomes real.