KBW 2022: Digital property rights - the key to the prosperity of the Web3 economy - Yat Siu from Animoca ## Reliable Property Rights in the Physical World are one of the key indicators of a prosperous economy - and this is exactly the fact that digital property rights provide in Web3, said the co -founder of Animoca

Reliable ownership in the physical world is one of the key indicators of a successful economy - and this is exactly the fact that digital property rights are provided in Web3, says the co -founder of Animoca.

Yat Siu, co -founder of the Hong Kong C ventricular company Animoca Brands, claims that digital property rights on the chain are the main aspect of blockchain technology, which will contribute to the development of a more decentralized society. Speaking at the Korean Blockchain Week 2022 (KBW), the Hong Kong entrepreneur noted that we are all “digital dependents”, and “data is a metric resource” that bring value to platforms such as Apple, Google and Facebook, Sui said: "The most influential companies in the world today are not energy or resource companies, it is technological companies, and they are not influential because they produce software. They are influential because they control our data." But, unlike the Web2 platforms to which we are accustomed, the blockchain -based applications allow us to control this data and not be subjected to "digital colonization," said Sui, adding: "The powerful [thing in] web3 is the fact that we can take the right of ownership, and we can achieve great changes, because we have distributed and decentralized property on these assets." Sui also emphasized the importance of property rights, indicating that countries that provide their citizens with strong property rights ensure the prosperity of their society. Sui pointed to the correlation between the international property rights index (IPRI) and the gross domestic product (GDPI) index: "Places where there are almost no property rights [...] you can see [are in] the lower 20% [according to GDPI] but countries with very strong property rights, South Korea, the USA, Japan, most of Europe, are very, very, very, very High property rights, ”he explained, adding that digital property rights should not differ. Digital possession should take off in Asia SIU added that the Asian continent has the greatest opportunities for growth, when it comes to Web3, as well as the capitalization of digital property rights. Siu said that Asia has a very rich history of “incredible content” and “digital expression”, most of which can be converted into blockchain -based assets [in the form of non -granous tokens] and provide them with digital property rights to their assets. Similar articles: Digital sovereignty: conquering your private data in Web3 Siu added that although today the inhabitants of Asia spend more time on the Internet than the inhabitants of any other continent, they still have where to grow. “Unlike the rest of the world, where the penetration of the Internet in the West is almost 100%,” in Asia, the penetration of the Internet throughout the continent is only 67%, he noted. Siu also said that the attitude to the meta -followers, games and NFT based on blockchain, as well as to digital property rights that are attached to them, are much more positive than in the West.