CEO Blake Simpson: “Approaching the essence of Web3 through self-purification of the cryptocurrency industry”.

(Source from CoinDesk Korea, https://www.coindeskkorea.com/news/articleView.html?idxno=91247)

Recently in Austin, Consensus 2023 on 26-28 April, reporter Seon So-mi(선소미 기자) from CoinDesk Korea made an exclusive interview with SAO Network. One of the keywords that CoinDesk Korea paid attention to in “Consensus 2023” is “Cryptocurrency, Go to Basic”. They took a look at the self-purification movements that have been taking place in the cryptocurrency industry since the Terra-Luna incident that shocked last year and the collapse of FTX.

The big difference between Web3 and Web2 is who owns the data. In the Web3 ecosystem, the individual can control and manage information based on the right to self-determination. It is possible to exercise rights to the data without the intervention of intermediaries or central controllers.

SAO Network, which is building Web3 data storage network, said in the interview with <CoinDesk Korea> held at Consensus 2023 on the 29th of April (local time) that the recent self-purification of the cryptocurrency (virtual asset) industry was expected to be an opportunity to approach the essence of the market again.

“Web3 is still in its infancy, and if we are patient with our long-term vision, we can potentially build a sustainable and reliable Web3 ecosystem,” said SAO Network’s CEO Blake Simpson. He continued, “In recent years, there have been various initiatives and movements within the blockchain  industry to improve the areas of transparency, accountability, and security.”

CEO Simpson said, “The role of blockchain technology is to store and transmit information and value, and it has the advantage that data is distributed, safe, and transparently managed. It has the potential to transform a variety of industries, such as finance, health care and supply chain management etc.”

“Decentralization is important in the Web3 ecosystem,” he said, “which is to reduce the influence and dependency of central authority.”

Ethan Zhao, Chief Marketing Officer (CMO), emphasized, “The SAO Network intends to provide a decentralized storage infrastructure. To this end, it will increase data accessibility, support high data availability, unlimited hot data storage and data privacy.”

“It is necessary to provide an open, permissionless storage network for all Web3 participants and decentralized applications.” “We will make it possible to access data efficiently.” “To this end, we have integrated with the IPFS protocol to ensure that the data stored on the SAO network is decentralized and secure,” he added.

About SAO Network

SAO Network is one of the decentralized storage infrastructures for Web3. It provides a decentralized storage protocol based on Cosmos SDK and IPFS to increase adoption of Web3 data storage and facilitate ecosystem applications.

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