Swiss ep partner summit 2025 - web3 panel
Short Summary:
This panel discussion at the Swiss EP Partner Summit 2025 focuses on Web3 venture building in Vietnam. Key points include the challenges and opportunities of funding Web3 startups, the importance of finding a problem to solve before choosing Web3 as a solution, and the prevalence of scams in the early days of Web3 in Vietnam. The panelists discuss various funding models, including angel investment and venture capital, and highlight successful applications of Web3 in areas like recruitment, payments, and agricultural traceability. The discussion also touches upon the need for clearer regulations and the importance of focusing on practical applications rather than solely on speculative technologies. Specific technologies like blockchain, DeFi, and AI are mentioned, along with examples of successful and unsuccessful Web3 ventures.
Detailed Summary:
The panel discussion can be broken down into the following sections:
Section 1: Funding Models and Venture Building Strategies:
This section introduces two different approaches to funding Web3 startups. One panelist describes their venture builder model, starting with a foundation funded by initial investors and reinvesting profits from successful projects to fund new ones. They emphasize providing resources beyond just money, including mentorship, office space, and connections. Another panelist describes a more traditional venture capital approach, investing in Web3 projects alongside other verticals, using a similar investment process to other startups. They highlight the challenges of identifying promising Web3 projects, noting a tendency for founders to choose the technology first and then search for a problem to solve ("building a hammer and then looking for a nail").
Section 2: Challenges and Scams in the Vietnamese Web3 Market:
This section discusses the negative impact of numerous scams that plagued the Vietnamese Web3 market in 2021-2022. This significantly impacted investor confidence. Panelists emphasize the importance of building a strong reputation and demonstrating genuine value to overcome this skepticism. The discussion highlights the rapid growth and subsequent failure of many Web3 projects, emphasizing the need for sustainable business models.
Section 3: Practical Applications and Future Directions:
This section shifts the focus to successful and promising Web3 applications. Examples include Web3-based recruitment platforms, payment systems for tourists, and agricultural traceability systems. Panelists discuss the need for focusing on practical applications that solve real-world problems, rather than solely speculative technologies. The importance of clear regulations in Vietnam is also stressed, particularly concerning cryptocurrency usage. The panelists also discuss the challenges of building in the developing world, including the need for user education and overcoming technological barriers. The discussion touches upon the potential of Web3 in advertising, highlighting the possibility of increased transparency and accountability through blockchain-based solutions. Finally, the panelists discuss the importance of collaboration with researchers and universities to foster innovation and develop new applications. One panelist mentions their work on carbon footprint tracing as a potential application.
Section 4: Addressing Technical and Cultural Challenges:
This section addresses the challenges of working with Vietnamese founders, including language barriers and the need for culturally sensitive mentorship. The panelists also discuss the importance of incorporating diverse expertise into their teams, including leveraging external experts and mentors. The discussion highlights the need for a holistic approach to venture building, encompassing not only technological expertise but also market understanding, business acumen, and cultural sensitivity.
Throughout the discussion, several key points are repeatedly emphasized: the need for sustainable business models, the importance of solving real-world problems, the impact of scams on investor confidence, and the importance of collaboration and mentorship. While specific financial details are limited, the overall message is one of cautious optimism regarding the future of Web3 in Vietnam, emphasizing the need for a pragmatic and responsible approach to development.