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Singapore Token2049, meeting at two crossroads.

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Author: CaesarXu.eth, 3WW3

Image source: Provided by the author, Sands Hotel

After a year, I successfully landed at Changi Airport in Singapore again by plane.

At the moment when Singapore was forced to become independent in 1965, Lee Kuan Yew probably did not expect that the poor, chaotic, and crisis-ridden island would become a world-renowned trading and financial hub. This small country, which is less than one-tenth the size of Guangzhou, had a GDP of $460 billion in 2022, surpassing Guangzhou, and its per capita GDP has exceeded $80,000.

Located at the most important gateway connecting the East and the West - the Strait of Malacca, Singapore has integrated the authoritarian politics of the East with the free trade and contractual spirit of the West at this port, becoming a crossroads where the East meets the West and emerging countries meet developed countries.

In September this year, the Web3 industry in Singapore became very lively. The sixth Token2049 was held in Marina Bay, a tourist destination in the south. Even though the market is in a deep bear market, this conference still attracted many Web3 practitioners to attend.

Image source: provided by the author, Token 2049 main venue

"Our 3WW3 Asia-Africa Web3 Research Institute is committed to the development and research of Web3 ecology in emerging countries, and aims to solve local economic and social problems through Web3," said a group of friends from the Asia-Africa Web3 Research Institute.

For the first time in the industry, I heard the term "Asia-Africa-Latin America" from a history textbook. With great interest, after in-depth communication, I discovered that the combination of Web3 and emerging countries in Africa, Latin America, and South Asia may indeed be a potential opportunity. Next, at their enthusiastic invitation, we will join the Token 2049 event together.

Image source: provided by the author, Marina Bay

Alternative "Scholarship Fund"

Early the next morning, we met with a group of friends interested in blockchain at the National University of Singapore (NUS). Among them, a young Vietnamese man named Nguyen Minh caught my attention.

Nguyen Minh comes from an ordinary family in Ho Chi Minh City, Vietnam. Although his family is not wealthy, his passion for learning and exploring new things has never diminished. During his university years in 2021, Nguyen was introduced to Web3 through a popular Gamefi application at the time. He invested a lot of time on this platform and, through his own efforts and strategies, earned a considerable income. It was with this income that he paid for his studies in Singapore.

If there was no Web3, I might be working in a clothing factory in Vietnam. It (Web3) completely changed my life.

Of course, this income is not enough to cover all of his living expenses. In order to make ends meet, he also participates in multiple Gamefi and gaming guilds during his free time, earning money through these projects.

He told me that Web3 has opened up a whole new world for him, allowing him to see more possibilities and opportunities.

Web3 has not only enabled young people like Nguyen to go abroad and change their destiny, but also provided many people with opportunities to change their lives.

Image source: Provided by the author, National University of Singapore

面包与牛奶

translates to

Bread and Milk

in English.

Following that, upon the recommendation of a friend, we visited Marcos, a university professor from Argentina who was visiting Singapore.

In recent years, Argentina's inflation rate has reached 100%, which is equivalent to doubling prices within a year. The rapid devaluation of the peso has led Argentinians to turn their attention to cryptocurrency.

"Argentina's inflation problem has had a significant impact on the local economy and society," Marcos told us. The country's currency market has been in turmoil, with high inflation and high interest rates putting its future on a train to an unknown destination. Both businesses and individuals are filled with uncertainty about the future.

When asked about the greatest value of cryptocurrency to him, Marcos said, "This determines whether I will be able to buy another bottle of milk for my child when I buy bread tomorrow. The significance of cryptocurrency to us is not to earn more money, but to avoid losses."

Image source: Twitter, Erik Voorhees speaking on stage

Of course, not only Argentina but also many emerging countries are facing the problem of inflation and currency depreciation. Faced with government restrictions on foreign exchange transactions and high exchange fees, maintaining asset value through cryptocurrency has become the only choice for many people in Asia, Africa, and Latin America.

After leaving the National University of Singapore, we officially began our journey to Token 2049 in Singapore.

Image source: Provided by the author, School of Humanities and Social Sciences, National University of Singapore

Expectations from Kathmandu

When we were feeling a little tired after attending meeting after meeting, we met a Nepalese youth named Bikram at the venue.

While discussing Web3, he enthusiastically introduced me to local tourist attractions and history in Nepal, and invited me to visit Nepal when I have time. Bikram told me that he had been working as a tour guide in Kathmandu, the capital of Nepal, until 2019, and had never been exposed to Web3 and cryptocurrency.

With the guidance of the tourist, Bikram learned how to use cryptocurrency and the tourist even helped him register a cryptocurrency account and transferred his first USDT to him. Although the amount of money was not much, it meant a whole new beginning for Bikram.

Since then, Bikram began to delve into cryptocurrency and Web3 technology in his spare time. He discovered that this field has unlimited possibilities and opportunities. In 2021, he decided to give up his stable job as a tour guide and devote himself full-time to the cryptocurrency industry. This decision changed the trajectory of his life.

Within a short period of time, Bikram's income increased fivefold. He began to travel abroad and attend various conferences and events. Two weeks ago, he went to South Korea to exchange ideas with cryptocurrency enthusiasts and met many interesting people.

Now, Bikram is standing at the Token2049 conference in Singapore. His main interest at the moment is to bring more Nepalese people into the Web3 world, while also spreading Nepalese culture and history to the world through Web3.

Back at Changi Airport, the trip for this week has come to an end. In Singapore, the cultures, information, and capital of East Asia, Malaysia, India, and the West are condensed into this land of less than 800 square kilometers, making it a crossroads connecting the world.

It is at this crossroads of the world where I see Web3 integrating Eastern and Western technologies and narratives, connecting them to the people who need it most. A new crossroads is forming.

The future is still promising.