Coinllectibles Inaugural Web 5.0 Conference Focused On Real Life Applications and Ownership in the Centralised Web 2.0 and Decentralised Web 3.0 Ecosystems

Following the conclusion of the inaugural Web 5.0 Conference in Singapore, key management personnel of metaverse blockchain company Coinllectibles, a fully owned subsidiary of Cosmos Group Holdings Inc., comment on the conference and the focus on real life applications of blockchain in the developing centralised Web 2.0 and decentralised Web 3.0 ecosystems.

Toby O’Connor, CEO of Coinllectibles shared, “The event sought to add perspectives to the developments in centralised Web 2.0 and decentralised Web 3.0.  We directionally positioned discussion around a Web 5.0 that contains elements of Centralised and De-fi and that provides interoperability between apps and platforms where users have enhanced user experience, control and ownership to improve how we live.  There were also a lot of practical and fun direct application of technology in areas of art, collectibles and ESG and film.”

Chai Kok Young, Chief Technology Officer of Coinllectibles added, “Coinllectibles has always focused on the usage of blockchain technology to provide a legally-binding digital ownership token (DOT) to a tangible or intangible collectible. The strength of blockchain is its immutability and transparency, such that the digital asset can be freely shared and distributed while preserving ownership through a ledger system. With Coinllectibles’ DOTs, it is a functional use case as blockchain can help to maintain data integrity, and provide collectible owners with provenance. I was glad to be able to meet with industry stakeholders during the Web 5.0 Conference to exchange and share ideas on how we can further tap on blockchain to further disrupt and enhance the collectibles industry.”

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On the aspects of how Digital Ownership Tokens (DOTs) can impact the legal industry, Joshua Chu, Chief Risk Officer of Coinllectibles summarised the key talking points during the conference as follows, “The legal panel discussion had a good mix of practising lawyers, dispute resolution specialists as well as former leading regulators. We had a very fruitful discussion on how smart contracts and tokenisation can improve commerce, dispute resolution, and how Web 2.0 and Web 3.0 technologies can potentially address and solve inefficiencies in modern paper-based legal practices. With the adoption of blockchain technology in the legal industry, the future of legal practice is limitless, transforming into value for our clients. I would, in particular, like to thank the Deputy Secretary General Mr. Eric Ng of HKIAC, Mr. Louie Lee and Ms. Sally Lin of Prosynergy, Mr. Louis Cheung, Mr. Moses Park and Mr. Ohoon Kwon for their exceptional industry insights during our session.”

The Web 5.0 Conference was also a platform for NFT art to be showcased, both in its physical form, and in 3D format on a glasses-free autostereoscopic tablet and a 3m by 3m video wall. “It was definitely an eye-opening experience for our conference attendees to be able to witness for themselves the fusion of phy-digital assets that Coinllectibles has been doing for the last 1 year. I am also proud that we showcased the works of some of the artists whom we are working closely with, such as David Chan and Umibaizurah, and launched Singapore’s first Art and Collectibles DOT Auction in partnership with 33 Auction. All in all, it was a very good first conference for us in establishing our presence here in Singapore and I am very excited for the pipeline of other events and conferences that we will be participating in time to come”, said Terry Lee, Head of Art at Coinllectibles.

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