TechFlow news, Lennix, Director of Financial Markets at OKX, stated during the Global Web3 Ecosystem Innovation Summit on July 14 that Web3 will not completely replace Web2's internet monetization model in the short term, but it will inevitably have a significant impact on it.
Lennix believes that if companies can convince users to continue authorizing their personal data in exchange for more accurate products and information services, Web2.0-style revenue generation remains feasible. However, the growing user awareness regarding privacy rights over personal data is irreversible.
Attendees of the event included SUSS President Cheong Hee Kiat, Singapore University of Social Sciences Professor Li Guoquan, and senior executives from Huawei Cloud in the Asia-Pacific region.
