Coin Edition Exclusive: Navigating Through Web3 Cosmos With STORM Partners’ Sheraz Ahmed

Web3 has come a long way since its initial introduction to the world. One of the most difficult challenges pointed out by several analysts turned out to be the community’s transition from Web2 to Web3. While some individuals gradually turn their heads towards Web3’s features, attracted by its diverse features and potential, they still remain confused about their entry into this revolutionary realm.

Today, Sheraz Ahmed, the Managing Partner of STORM Partners, talks to Coin Edition about Web3’s journey over the years. Throughout his career journey, Ahmed had an insightful understanding of innovation. Apart from being the managing partner of STORM Partners, he has also acted as a leader and mentor, guiding hundreds of ground-breaking startups regarding their implementation of modern practices to further their business objectives.

In this exclusive interview, Ahmed also explains the future developments and current trends of the blockchain industry and advises users on how to navigate through this ever-evolving industry. Ahmed also lists the different strategies STORM has planned to boost the blockchain industry.

1. As someone who has been actively participating in crypto summits, including the recent Cardano Summit, could you share your perspective on the significance of these gatherings within the blockchain industry? Why do you believe it’s essential for professionals and enthusiasts to come together at events like these, and what value do they bring to the broader crypto community?

Absolutely! Crypto summits, particularly events like the Cardano Summit, serve as crucial junctions for the blockchain community. They allow professionals, enthusiasts, and industry leaders to converge, fostering collaboration and knowledge exchange.

These gatherings are more than just conferences; they are epicenters of innovation and serve as catalysts for pushing new concepts of what blockchain can achieve. The networking opportunities alone are invaluable, allowing individuals to form partnerships, share insights, and collectively envision the industry’s future.

2. Transitioning from a long reliance on Web2 to embracing Web3 can pose challenges. How do you recommend individuals navigate and harness the features of Web3, considering the potential difficulties of this transition?

The transition from Web2 to Web3 is indeed a paradigm shift and requires a strategic approach. Firstly, individuals should prioritize education to understand the principles and capabilities of Web3. This includes grasping concepts like decentralization, smart contracts, and blockchain governance.

Next, hands-on experience is crucial. For instance, actively engage with decentralized applications (DApps) and blockchain projects like those within the Cardano ecosystem to gain practical insights. Collaborate with the community; Web3 is inherently about collective efforts.

Lastly, be adaptable. The technology is evolving rapidly, and flexibility is key. Embrace the learning curve, and view challenges as opportunities for growth. The hurdles in transitioning to Web3 outweigh the potential for a more inclusive, transparent, and efficient digital landscape.

3. In one of your LinkedIn posts, you emphasized the need for guidance rather than enforcement in the Web3 space. How should governments and regulatory authorities, in your opinion, provide guidance to foster positive growth in the blockchain industry?

Governments and regulatory authorities play a pivotal role in shaping the trajectory of the blockchain industry. However, a collaborative and adaptive regulatory approach is essential instead of rigid enforcement.

Establishing open lines of communication with industry stakeholders, including blockchain businesses and experts, is crucial. Regulatory experiments can be created within defined parameters, fostering innovation while maintaining oversight.

Additionally, education initiatives for regulators to understand the intricacies of blockchain technology can facilitate informed decision-making. Striking a balance between protecting consumers and enabling innovation is key, and this can be achieved through a consultative and iterative regulatory process.

4. As an expert in the blockchain industry, what are the steps that one should follow while starting a blockchain network, especially since it keeps evolving? How does one determine what features are required for their particular blockchain network?

The most important factor in creating a blockchain network is that it has tangible use cases. Start by clearly defining its goals and the challenges that it aims to tackle. Assess the most suitable consensus mechanism and scalability measures based on the intended use while actively engaging with the wider community and users for feedback to address existing challenges.

Flexibility is key; design the network with scalability in mind to adapt to future growth and technological advancements. Regularly evaluate the changing landscape and be ready to adjust the network accordingly. Collaborate with experts and stakeholders to determine optimal features tailored to the specific needs of the blockchain network.

5. Given the continuous evolution of blockchain technology, how would you advise individuals to stay informed about these advancements? Additionally, could you provide insights on how STORM will contribute to helping individuals keep up with the latest developments in blockchain technology?

Staying informed in the high-speed blockchain space requires a keen interest and commitment; this way, staying informed from reputable industry news sources, participating in forums, reading whitepapers, and watching explainers on YouTube eventually become second nature.

Continuous learning through webinars, conferences, and workshops is the best way, as you get to learn from industry leaders in person and be privy to information and insights not yet available online.

At STORM Partners, our commitment to education and community building is paramount. We will actively organize and participate in events, share insights through thought leadership, and provide educational resources to ensure individuals can access the latest developments. STORM Partners aims to cultivate education by fostering a collaborative and informed community.

6. As a seasoned professional in the blockchain industry, what are your insights and predictions regarding the future developments and trends we might witness in the blockchain space? What are the future plans that STORM will implement to boost the blockchain industry?

Anticipating heightened integration with emerging technologies such as AI, we foresee pushing the limits of data management and efficiency within the blockchain space. Our pivotal focus will be on interoperability, fostering collaboration among diverse blockchain networks.

At STORM, our future initiatives entail leading efforts to facilitate this collaboration, either through forging strategic partnerships or assisting our clients in pioneering technological innovations.

As a blockchain solutions provider, we are dedicated to advancing the mainstream adoption of blockchain by championing transparency, decentralization, and community-driven development. The path forward involves navigating unexplored territories, and at STORM, our commitment is to be at the forefront of shaping the future of the blockchain industry alongside our clients.