IPRI holds discussion on Web3.0

KARACHI: The Islamabad Policy Research Institute (IPRI) held a presentation on ‘Exploring Web 3.0’, and discussed its application in the realms of artificial intelligence, a statement said.
The upcoming generation of the web, still in an evolutionary phase, uses decentralisation, blockchain-based technology, machine learning and artificial intelligence, it was said during the presentation.
Komal Salman made the presentation, wherein she discussed the necessity of adopting Web3.0, and tapping into the potential of blockchain, non-fungible tokens (NFTs) and metaverse.
While bitcoin and cryptocurrency are the new modus-operandi of a parallel emerging financial fiefdom, it was studied as to how developing economies can face this reality, and subsequently fall in line.
The secured virtual financial medium, rapidly replacing the fiat in order, is nearly impossible to counterfeit or double-spend, and this is what makes it an indispensable feature of neo-economics.

The participants dealt into a brain-storming session to underline the fears and concerns associated with this new medium, and as to how terrorists and other anti-state elements could make use of it to further their nefarious designs.
The essence of virtual money, its adaptation process in the world at large, legislations to grant it legitimacy, and the decorum and value of its pegging with the dollar was also deliberated at length.
It was proposed that Web3.0 must be embraced as a new invention, and the virtual transfer and transaction of wealth in bitcoin is the way to go in years to come.
IPRI President Ambassador Raza Muhammad (Retd) presided the session, attended by Director Research Brig Raashid Wali Janjua (Retd) and Chair of Economy Dr Aneel Salman.