Privacy, security and ownership will play an important role going forward: Web3Cast with Ishan Roy

Ishan Roy is the founder of Quantlabs, a Metaverse, NFT and Web3 studio. They specialize in building Metaverses and Digital Collectibles for Enterprises, Brands, EduTech and Spiritual organizations. The company’s flagship product Versez, was used to host the first Metaverse Durga Puja in India. Previously Ishan had headed the Blockchain Initiative of Tamil Nadu at TNeGA. In this capacity, he was responsible for formulating and publishing Tamil Nadu Blockchain Policy 2020, India’s first Blockchain policy.

He was also the Chief Architect for the Tamil Nadu Blockchain Backbone Platform. Ishan is a member of several Blockchain think tanks, including the EU Blockchain Observatory and Forum, and has contributed to the CBDC and NFT reports published by the Forum. He is also a Blockchain Author, and his book, Blockchain Development for Finance Projects, has a rating of 4.3 stars and is available on all major platforms. Previously He has worked extensively on building cryptocurrency exchanges, bitcoin payment gateways, ICOs, trade finance, and cross-border remittance platforms.

Q: “Quantlabs: Building the new internet with Web 3.0!” Tell us more about it.

A: Quantlabs was built with the idea to cut through the hype around Web3 and equip builders to implement solutions for the new internet seamlessly. The core team comprises individuals with relevant experience in the crypto and blockchain space and is equipped to envision and deliver cutting-edge solutions for clients. 

We specialize in implementing solutions with real-world impact and value creation. Our focus, apart from our clients, is the end customer. As a such user experience, security, efficiency, privacy and speed play a huge role in our design process.

We firmly believe that Metverses, NFTs, Web3 wallets, and Blockchain will drastically change the way users experience and interact with the web. We believe in going the extra mile to help our clients deliver the new internet to their end customers. We also believe that Web3, the next iteration of the internet, will not be limited to just blockchain and crypto but will focus on a user experience that is more immersive, privacy focused, guarantees ownership of virtual assets and private data leverages a digital economy powered by crypto, is automated through AI and guarantees immutability of processes and data through smart contracts.

Q: Could you please tell us how Quantlabs is reframing human-oriented metaverse experiences in the edutech, branding, tourism and spirituality realms?

A: We believe that most people still do not understand the ‘Metaverse’ terminology. The Metaverse is not a single virtual world or a single NFT minting and trading platform It will not be built by a single company or entity. It also will be ubiquitous, like the Internet. Additionally, “metaverses” should solve real-world problems or provide a reason for their patrons to keep visiting them.
To build human-oriented metaverses, we focus on the following in our implementations –

• Focus on problem-solving through interactive content and social engagement to create an immersive experience for the end user.
• Provide a seamless experience across devices (including VR, desktops, and smartphones) and geographies to ensure anyone can join and experience from anywhere.
• Focus on decentralization, the privacy of user data, and ownership of virtual assets through wallets, smart contracts, NFTs, and decentralized storage protocols like IPFS and Filecoin.
• Interoperability of assets and virtual worlds and modular architecture is of prime importance to ensure the longevity of platforms.
• Build a decentralized economy around such platforms to support the leasing and trading of virtual assets such as land or avatar accessories. Additionally, integrate popular crypto protocols to allow patrons to engage in business on the metaverse.

These four principles were evident in the Metaverse Durga Puja – MetaDurgotsav 2022, built by us. Patrons could bring their NFTs to the platform and donate in crypto. Additionally, we carried out interactive prayer meetings on the platform, and devotees could participate in the rituals, offer flowers to deities and even participate in the cultural events that were organized on our Metaverse. The platform allowed families and friends during the pandemic to participate in a shared immersive experience on the Versez platform.

Q: What’s the future of blockchain? 

A: I believe that the FTX debacle, the ongoing crypto winter, and a general mistrust of the technology will push crypto back to basics. I think now is the time for builders who truly believe in decentralization and the capabilities of blockchain will start building if they are not already doing so. The focus will now be on building products that benefit the communities and consumers that have supported web3 projects financially and morally. The focus will also be now on acquiring real customers who use the end products. 

Enterprise Blockchain will also evolve. DLT and Blockchain tech will become a part of Enterprise Tech stacks without much hullabaloo. We’ll start to see decision-makers debating and contemplating if the tech would make a difference to their business and end customer before greenlighting a project. A huge chunk of enterprise blockchain projects will also be government projects. This would include CBDC projects and secure identity frameworks.

Q: The implementation of blockchain technology by the new-age startups – how do you think it’s happening across the globe?

A: Startups globally are leading the Web3 revolution. They are also taking an interesting approach to creating products by keeping their community in the loop and building in public. Building is no longer limited to only building the product but also includes building an ecosystem of future customers, investors and partners. Startups that have raised money from their communities to build products are also giving back to the ecosystem. Staking programs, grants, and networking events are essential parts of a good Community Manager’s playbook. Going forward, this would become the de facto.

It’s a wrap-up:

“We have to clearly define Web3 to chart the roadmap to the next iteration of the Internet. Privacy, security, ownership and community will play an important role going forward. Crypto and Blockchain will play an important role, but they’ll not be the start-all and end-all.”- Ishan Roy, Founder, Quant Labs

Feel free to contact Ishan Roy:

www.quantlabs.technology

Twitter: @ishanroy

ishan@quantlabs.technology