MUSCAT: Today, we dive into the world of Web 3.0 with Maymuna al Adawi, organiser of Tejarah Talks. She talks blockchain, NFTs, cryptocurrency, the metaverse and edge computing, explaining their significance for local businesses. Join us as we explore this new digital frontier and discover the transformative opportunities it offers.
Q: First off, could you tell us a little about why Tejarah Talks is hosting the Web 3.0: Opportunity Unchained session on September 13?
A: Absolutely. At its core, September’s Tejarah Talks is about making Web 3.0 accessible. In fact, as technology advances, we’ve noticed a widening gap between what’s possible and what’s known, especially for smaller companies. We aim to close that gap. The September 13 session will, I hope, connect local experts and businesses, demystifying Web 3.0. It’s all about empowerment and ensuring our business community is primed for the future.
Q: Who’s on the September 13 panel?A: We’ve a fantastic line-up. Moderated by Jamal al Asmi, Executive Producer, RealityCG. our panellists are Ghada al Kharusi, Manager, Innovation Department, Central Bank of Oman; Azzan al Kindi, CEO and Co-founder, Rihal Data Migration & Services; Thuraya al Harthy, Acting Director, Government Digital Services Unified Portal, Ministry of Transport, Communications and Information Technology; and Saud al Zakwani, Head, Digital Transformation, Petroleum Development Oman. And it’s important to mention we couldn’t be doing any of this without the support of our sponsors Jindal Shadeed, Sustainable City, Yiti, Nortal, Omantel and OmanFM.
Q: We hear a lot about Web 3.0, but what’s it really about? And what’s in it for smaller Omani businesses?
A: Web 3.0 is a shift from centralised to decentralised. While Web 2.0 was social and interactive, Web 3.0 hands power back to users through blockchain tech. Here’s the thing, Web 3.0 has levelled the playing field. Folk get more control over their data, direct transactions without middlemen and freedom from tech giants. It’s all about giving businesses back their autonomy in the digital realm.
Q: And the role of blockchain? How does it reshape business dynamics?
A: Imagine a transparent, ultra-secure digital ledger that everyone can trust but no one controls. That’s blockchain. For businesses, especially small ones, it’s transformative. You can verify product origins, simplify and secure transactions and build a transparent relationship with customers. It’s like having a trust seal on every aspect of your business.
Q: Cryptocurrencies have been all the rage. How can small businesses ride this wave?
A: Beyond the hype, and there’s been a lot, cryptocurrencies are a tool — and a powerful one. For example, they eliminate international transactional barriers and hefty bank fees. By accepting digital currencies, companies can appeal to a tech-savvy and younger demographic, setting themselves apart as forward-thinking and innovative.
And as the financial ecosystem evolves, there’s potential for small businesses to access decentralised finance platforms, offering more flexible borrowing, lending and investment opportunities.
Q: NFTs are popular too. How can the average small business leverage them?
A: In simple terms NFTs are digital authenticity tokens. For small businesses, they’re a way to create a unique digital stamp, be it for a product, service, or even branding. If you will, it’s a new form of IP — like having a unique, undeniable signature on the digital canvas.
For retail businesses, NFTs can be used as limited edition digital collectibles, enhancing brand value and customer loyalty. Think of them as modern-day trading cards or stamps, but with a digital twist.
On a more practical level, small businesses can use NFTs for digital licenses, event tickets, or even memberships, ensuring both transferability and verification.
Q: The metaverse — is it just a fantasy or a real opportunity for small businesses?A: The metaverse presents an exciting opportunity for Oman’s small business community. Much like how the Internet opened global marketplaces, the metaverse takes it a step further, offering immersive experiences and deeper customer engagement.
Small Omani businesses can now operate virtual storefronts, host 3D product demos, or even organise interactive events — all without the constraints of physical space.
And as global boundaries blur in the metaverse, it’s a place for even the smallest brands to gain global recognition. In essence, it’s the next frontier in digital entrepreneurship, levelling the playing field in new and exciting ways.
Q: Any final thoughts for small Omani businesses eyeing the opportunities of Web 3.0?
A: Embrace change, never stop learning. Web 3.0 isn’t just an upgrade it’s a paradigm shift. For Oman’s small businesses, it’s an invitation to innovate. Buy the ticket and take that ride. And of course we look forward to welcoming everyone who’s interested in this exciting topic to Tejarah Talks, 7:30pm Wednesday, September 13 at Omantel’s Head Office in Airport Heights.
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