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A Deep Dive into Decentralization, Trust, and Empowerment – Exclusive Interview with Mohamed AZZI

Welcome to our interview blog where we have the privilege of interviewing Mohamed Azzi, a versatile professional with expertise in material engineering, blockchain and project management. He is currently Head Manager at Sastanaqqam, a company dedicated to building and promoting decentralized technologies in the Web3 ecosystem.

Sastanaqqam’s innovative platform provides artists with unprecedented opportunities to promote their work and democratize the traditional art world. With its comprehensive suite of features including a rental place, marketplace, virtual museum, and non-custodial wallet, Sastanaqqam is paving the way for a new era of artistic expression and engagement.

Interviewer: What initially attracted you to the concept of Web3 and its potential impact?

Mohamed AZZI: The concept of Web3 attracted us due to its potential to fundamentally shift how online platforms and applications operate. Web3’s potential to drive decentralization, give data ownership back to the users, and create a more transparent, secure, and inclusive digital world deeply resonated with our vision.

Interviewer: How would you describe the current state of Web3 adoption and development, and what are the most significant milestones achieved so far?

Mohamed AZZI: The current state of Web3 adoption is rapidly evolving, but still in its early stages. Significant milestones include the rise of decentralized finance (DeFi), the growing popularity of non- fungible tokens (NFTs), and the advent of decentralized autonomous organizations (DAOs). Yet, the most crucial achievement is the growing public awareness and understanding of Web3’s potential.

Interviewer: In your opinion, what are the main challenges or barriers that need to be overcome for Web3 to achieve mainstream adoption?

Mohamed AZZI: Some of the main challenges for Web3’s mainstream adoption include technical complexities, regulatory uncertainties, and the need for scalable solutions. Security is also a crucial concern, given the decentralized nature of Web3.

Interviewer: How does Web3 align with the principles of decentralization, trust, and individual sovereignty? What role does it play in empowering individuals?

Mohamed AZZI: Web3 aligns perfectly with the principles of decentralization, trust, and individual sovereignty. It allows individuals to own and control their data and transactions, fostering trust through transparent, decentralized networks. Web3 empowers individuals by enabling them to participate directly in digital economies and decision-making processes.

Interviewer: How do you envision Web3 transforming industries and traditional business models in the coming years?

Mohamed AZZI: We envision Web3 transforming industries by creating more transparent, efficient, and decentralized systems. Traditional business models would be challenged by DAOs and DeFi, empowering individual contributors and disrupting the current centralized finance and governance models.

Interviewer: What role does governance play in the Web3 ecosystem, and how do you see it evolving to ensure inclusivity and fairness?

Mohamed AZZI: Governance is key to the Web3 ecosystem. We believe it will evolve into a more democratic and inclusive form, where every stakeholder, regardless of their stake, can participate in the decision-making process. DAOs are a perfect example of such inclusive and fair governance.

Interviewer: With the rise of Web3, how do you perceive the relationship between governments and decentralized technologies? Are there any regulatory challenges to be addressed?

Mohamed AZZI: The relationship between governments and decentralized technologies is complex. While some governments are open to embracing these technologies, others have shown resistance due to regulatory and control concerns. There’s a need for regulatory frameworks that can ensure user protection without stifling innovation.

Interviewer: How can developers and entrepreneurs best contribute to the growth and development of the Web3 ecosystem? What opportunities exist for them?

Mohamed AZZI: Developers and entrepreneurs can contribute to the growth of the Web3 ecosystem by building user-friendly, innovative, and secure applications. Opportunities exist in areas like DeFi, NFTs, decentralized marketplaces, and DAOs.

Interviewer: What advice would you give to individuals and businesses who are considering adopting Web3 technologies or integrating them into their existing systems?

Mohamed AZZI: For businesses and individuals considering adopting Web3 technologies, we would advise them to fully understand the implications, benefits, and challenges of these technologies. It’s a rapidly evolving field, and learning is the key to successful adoption.

Interviewer: Looking ahead, what are your predictions for the future of Web3? How do you see it evolving in the next five to ten years?

Mohamed AZZI: In the next five to ten years, we foresee Web3 becoming more user-friendly, secure, and mainstream. We anticipate more mature and inclusive governance models, growth in decentralized marketplaces and economies, and increased adoption of DAOs and DeFi. We’re optimistic that Web3 will continue to empower individuals and reshape the digital landscape.

We’d like to extend our gratitude to Mohamed AZZI for sharing valuable insights into the exciting world of Web3 and its potential impact on industries and individuals. The future of Web3 looks promising, and we eagerly await the transformation it will bring to the digital landscape. Stay tuned for more insightful interviews with experts from various fields as we continue to explore emerging technologies and trends.

WOW Summit Hong Kong. 26-27 March