Dinis Guarda interviews Jay Steinback, Co-Founder and CEO of yWhales and Co-Managing Director of FinRamp, to discuss the importance of blockchain technology for businesses transitioning to Web 3.0. The interview, powered by businessabc.net and citiesabc.com, is now live on the respective YouTube channels and other major video streaming platforms.
With over 25 years of extensive experience in corporate ecosystems, building technology, collaboration, and team structures, Jay is focused on developing solutions in the enterprise blockchain space as well as creating B2B/B2E metaverse operating systems through yWhales Labs.
The largest, exclusive, global leadership community aimed at shaping the business of Web3, yWhales is working on building a strong foundation to support Ventures and is consistently dedicated to educating and collaborating with communities to advance the adoption of Web3 technologies.
“yWhales help you make transition in your journey to Web 3.0. We help you with due diligence and building smart contracts. We don’t really invent anything new. We quite simply look and say how can we use all the various technologies in a way that’s interesting to the existing markets, and CEOs and CTOs around the world.”, Jay told Dinis.
As a facilitator for serious entrepreneurs and enterprises transitioning to Web3, yWhales provides comprehensive support, addressing legal frameworks, financial optimization, and user experience enhancement. The enterprise’s ventures, including FinRamp, Enterprise Solutions, Communities, and Labs, play a pivotal role in contributing to the growth and development of the Web3 ecosystem.
“yWhales XR is an immersive commerce industry. Our solution to the boring and useless metaverse is to use AI to take your existing website. We extrapolate and scrape everything from it, create an immersive space, integrate AI, reintegrate ecommerce, while replicating the old mobile and desktop versions.”
yWhales relies on the solid foundations of blockchain technology
The decentralised and immutable nature of blockchain technology guarantees that transactions and data are secure and tamper-proof. Through the use of smart contracts and cryptographic techniques, blockchain enhances compliance by automating and enforcing predefined rules within the network. The transparent and distributed ledger ensures that all participants have access to the same information, promoting trust among stakeholders.
As the Co-Managing Director of FinRamp, a platform that aims to revolutionise the carbon credit issuance process by providing a regulatory compliant, secure, and transparent “Carbon Credit as a Digital Security” solution, Jay emphasises the importance of regulation and transparency during the interview:
“Regulation shouldn’t be scary. It sounds not fun because it starts with paying your taxes but for people who already have operational businesses that are spending hundreds of millions of dollars on compliance, these are game changers. These are said to provide liquidity, speed, and security.”
How yWhales facilitates the transition of businesses to Web 3.0 in the era of AI
Web 3.0’s decentralised nature, coupled with AI, facilitates improved data security, privacy, and interoperability. The seamless integration of these technologies empowers businesses to create dynamic, self-learning ecosystems that adapt to user behaviors and preferences.
“AI will change the world that it already has. The dangers of it are real. There is a real need to control the source of information. These sources, essentially, should not be centralized. The integration of blockchain being the best protection against AI is real”, Jay told Dinis.
Companies embracing this paradigm shift position themselves at the forefront of innovation, unlocking new possibilities for efficiency, user engagement, and sustainable growth in the digital age.
With a driving passion to create a relatable content, Pallavi progressed from writing as a freelancer to full-time professional. Science, innovation, technology, economics are very few (but not limiting) fields she zealous about. Reading, writing, and teaching are the other activities she loves to get involved beyond content writing for intelligenthq.com, citiesabc.com, and openbusinesscouncil.org
