Ant Group SVP Jiang Guofei Proposes Industrial Web3 to Outrun Consumer Internet Web3

According to on-site reports, at the Ant Digital Developers Conference held today, Jiang Guofei, Senior Vice President of Ant Group and President of the Digital Technology Business Group, further proposed the view that Industrial Web3 may run faster than Consumer Internet Web3 within the framework of industrial collaboration digitization.

Ant Jiang Guofei: Industry Web3 May Run Faster than Consumer Internet Web3

The Ant Digital Developers Conference held today has revealed an interesting view on the development of Web3, a decentralized internet. The conference features several global industry leaders, and among them is Jiang Guofei, the Senior Vice President of Ant Group and President of the Digital Technology Business Group. Jiang proposed that Industrial Web3 may run faster than Consumer Internet Web3 within the framework of industrial collaboration digitization. In this article, we will discuss Jiang’s view on Industrial Web3, compare it with Consumer Internet Web3, and understand how it will impact the future of the industrial and consumer sectors.

Overview of Web3 and its Types

To understand Jiang’s view on Industrial Web3 and Consumer Internet Web3, let’s first discuss what is Web3. Web3 is the next evolution of the internet that aims to create a decentralized internet. In Web3, users have complete control over their data and identity, and there is no central authority governing the network. Web3 operates on blockchain technology and has the potential to disrupt several industries by removing intermediaries.
Web3 has two types: Consumer Internet Web3 and Industrial Web3. Consumer Internet Web3 aims to decentralize the internet that consumers use, such as social media, e-commerce, and gaming. On the other hand, Industrial Web3 focuses on the decentralized network used by industries such as supply chain management, big data analysis, and financial services.

Jiang Guofei’s View on Industrial Web3

According to Jiang, Industrial Web3 may run faster than Consumer Internet Web3 within the framework of industrial collaboration digitization, and it will have a significant impact on the future of the industrial sector. Jiang believes that Industrial Web3 can create a decentralized network for industries that can operate more efficiently and transparently.
With Industrial Web3, enterprises can create a secure and reliable decentralized network that enables the sharing of data without relying on intermediaries. Industrial Web3 can also streamline supply chain management, enable secure and fast payment transactions, and create new business models. Jiang emphasizes that Industrial Web3 will revolutionize the way industries operate and bring significant cost savings and efficiencies.

Comparison between Industrial Web3 and Consumer Internet Web3

The primary difference between Industrial Web3 and Consumer Internet Web3 is the focus on the use case. While Consumer Internet Web3 focuses on creating a decentralized network to disrupt consumer industries, Industrial Web3 focuses on creating a decentralized network to disrupt the industrial sector. Consumer Internet Web3 aims to remove intermediaries in the social media, e-commerce, and gaming industry, while Industrial Web3 aims to remove intermediaries in supply chain management, big data analysis, and financial services.
Additionally, Industrial Web3 operates on permissioned blockchain compared to consumer Internet Web3, which operates on permissionless blockchain. Permissioned blockchain has restricted access to nodes, and only authorized nodes can participate in the network, while permissionless blockchain is open to everyone. Due to permissioned blockchain’s restricted access, Industrial Web3 can create private and secure decentralized networks for industries, making it more suitable for enterprise solutions.

Impact of Industrial Web3 on the Future of Industries

Industrial Web3 has the potential to revolutionize the industrial sector by removing intermediaries and bringing transparency and efficiency in the supply chain. With Industrial Web3, enterprises can create decentralized networks that remove the need for intermediaries, streamline business processes, and create new business models.
For instance, Industrial Web3 can improve transparency in the supply chain by allowing real-time tracking of products and materials. This can significantly reduce the risk of fraud, counterfeiting, and supply chain disruptions. Additionally, Industrial Web3 can enable fast and secure payment transactions, reducing payment processing time and costs.
Industrial Web3 can also remove intermediaries in big data analysis and financial services, reducing costs, and increasing efficiency. With decentralized networks, data can be shared securely and in real-time, enabling faster data analysis and decision-making. Industrial Web3 can also create new business models, reducing the barrier to entry and enabling broad-based participation.

Conclusion

Jiang Guofei’s view on Industrial Web3 at the Ant Digital Developers Conference presents an interesting perspective on the future of industries. Industrial Web3 has the potential to revolutionize the way industries operate and bring transparency, efficiency, and cost savings. With the privacy and security benefits of permissioned blockchain, Industrial Web3 can create decentralized networks that streamline supply chain management, enable secure and fast payment transactions, and create new business models.

FAQs:

Q1) What is Web3?
Web3 is the next evolution of the internet that aims to create a decentralized internet. In Web3, users have complete control over their data and identity, and there is no central authority governing the network.
Q2) What is the difference between Industrial Web3 and Consumer Internet Web3?
The primary difference between Industrial Web3 and Consumer Internet Web3 is the focus on the use case. While Consumer Internet Web3 focuses on creating a decentralized network to disrupt consumer industries, Industrial Web3 focuses on creating a decentralized network to disrupt the industrial sector.
Q3) What is the impact of Industrial Web3?
Industrial Web3 has the potential to revolutionize the industrial sector by removing intermediaries and bringing transparency and efficiency in the supply chain. With decentralized networks, businesses can streamline supply chain management, enable secure and fast payment transactions, and create new business models.