Grandma Wins At Crypto: A16z Reveals Plan To Make Web3 Easier For Everyone – Benzinga

Posted: December 23, 2023 at 2:47 am


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Venture capital firm Andreessen Horowitz(a16z) on Fridayreleased its 2024 predictions report, whichfocusedon democratization, user experienceand the integration of artificial intelligence (AI) as the driving forces behind crypto's evolution.

Decentralization Takes the Lead: Miles Jennings, general counsel and head of decentralization, emphasizedthe importance of shifting control away from centralized entities.

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He envisionedmore effective DAOs and innovative decentralization models leading to a more transparent, user-driven ecosystem.

This shift wouldempower users and promote diverse solutions that cater to a wider range of needs.

UX Revolution On The Horizon: Eddy Lazzarin, chief technology officer, predicteda significant improvement in user experience (UX) for crypto.

Passkeys, embedded wallets, and smart accounts are among the advancements that will simplify onboarding and interaction with decentralized applications (dApps).

These advancements aim to make crypto more accessible and intuitive for mainstream users, bridging the gap between Web2 and Web3.

AI And Blockchain Convergence: Andrew Hall and Daren Matsuoka, researchers, sawdecentralized AI as a major development.

Crypto couldempower individuals to contribute to AI training and data, democratizing innovation and making AI safer for users.

Open-source platforms couldencourage ethical development and mitigate risks associated with centralized AI models.

Play And Earn Redefines Gaming: Arianna Simpson, general partner, believed"play to earn" is evolving into "play and earn, shifting the focus from mere earning to creating fun and sustainable game economies.

Players wouldrightfully capture more value they generate within these virtual worlds, transforming the relationship between game platforms and users.

Also Read:Memecoin Madness: Solana Degen Turns $92 Into $1.5M In 16 Days Trading Silly Token, Can You Repeat This Dream?

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AI & Crypto: Guaranteeing Game Integrity: Carra Wu, investing partner, warnedthat AI-powered games require guarantees of fairness and transparency.

Crypto plays a crucial role here, enabling users to understand and verify the game's logic and code, ensuring everyone plays by the same rules.

Formal Verification Simplified: Daniel Reynaud, research engineering partner, introducedaccessible formal verification tools aimed at securing smart contracts.

These tools cater to the unique needs of blockchain development, making code more robust and less vulnerable to costly hacks.

NFTs as Ubiquitous Brand Assets: Scott Duke Kominers, research partner, predicteda surge in NFT adoption by brands.

From loyalty programs to co-creation initiatives, NFTs will become integral to brand identity, customer engagement, and product experiences.

This trend will see NFTs transitioning from niche collectibles to mainstream brand assets.

SNARKs Take Center Stage: Sam Ragsdale, investment engineer, highlightedthe growing prominence of SNARKs, cryptographic tools that verify computations without revealing underlying data.

SNARKs will enable a multitude of innovative applications, from secure edge computing to verifiable media edits and self-auditing forms.

Why It Matters: Andreessen Horowitz painteda picture of a crypto industry embracing decentralization, user-centricity, and AI integration.

These trends have the potential to bring crypto mainstream, empower usersand unlock new possibilities across various sectors.

As innovation continues at a rapid pace, 2024 promises to be another pivotal year for the ever-evolving world of crypto.

Also Read:Hodl Your Horses, Bulls: Matrixport Predicts Bitcoin Stampede Will You Get Trampled Or Triumphant?

Photo: Shutterstock

Ready for your shot at the next potential 32%, 39% or 45% gains in today's market? You're about to miss Stock Expert Gianni Di Poce's 3 latest stock ideas... Ones that could shift your entire wealth-building journey. If you're ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.

2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Grandma Wins At Crypto: A16z Reveals Plan To Make Web3 Easier For Everyone - Benzinga

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December 23rd, 2023 at 2:47 am

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