Blog:
Newconomics 2023 - Meet our Speakers: Andrew Peek
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We’re nearly in November which means it's almost time for the Newconomics event in Lisbon. We’ve very excited about the panellists, speakers, startups and partners we have coming to the event and we encourage everyone to grab a ticket now to avoid missing out. One of our amazing speakers is Andrew Peek, CEO of Delphia, the hedge fund powered by a membership-based data collective that partners with hedge funds. He kindly shared his thoughts with us on
“To me, Web3 represents a more equitable and rewarding version of the web. More GDP is the result of our digital lives each year and the “trade” cannot simply be free services for our contribution to it. We need to think of our interactions in digital space as contributing to better and better experiences for all. The more our participation is quantified, the more we can be rewarded for that participation.
DAOs are one of the most important constructs in crypto and will change every aspect of the economy, politics, and likely your social life in the years ahead. However, to facilitate adoption we need real life use cases. For this reason, I’m excited about Data DAOs. Consumer data is only valuable when aggregated and there is a long history of powerful corporations who have built the vast majority of their enterprise value on the basis of this aggregation. Consumer data is even commercially available to hedge funds and asset managers who serve the world's wealthiest clientele.
As it stands, the originator of the data is locked out of the downstream value that gets created because they do not have a commercial interest in the aggregation of the data. Moving governance from the hands of a few to a community of many (a.k.a. credible neutrality) will give people more control over the means of production in a Web3 world, but also over their means of achieving prosperity. Crypto incentives are the key to inviting participation and unlocking data that is more valuable than the sum of its parts.
We’re not quite at critical mass when it comes to inclusion in web3 yet and there are still some important barriers to entry. At this point, regulators aren’t the biggest obstacle. There aren't enough people demanding their services be “Web3” and that’s a value proposition and education problem. We won’t see that kind of demand until our user experiences are as easy as Web2 or the consequences of interacting with Web3 can be experienced with much less risk. The upside is that we all have the opportunity to work with people who are truly passionate about the problem we are solving, despite where they might be in the world.”
Find out more about the new economics of Web3 and how it can change the way we work together at the Newconomics event in Lisbon. Full details and registration can be found on the website.
