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(This article is an excerpt from the interviews of Fenbushi&NEST, written and organized by bandits.)

Charles：1. There are constant disputes about the concept, application scenarios and future development of web3; some say it will subvert the traditional web2 world, and some say it is a composition of Ponzi. What is your opinion on this?

Web3 is a broader trust-based digital ecosystem. We see it as the next stage of digital evolution. User-led web3 will recreate what is commonly known as the "Internet" or "online functionality".

Web3 covers almost all connections, services and data access in the digital world. Among them, the blockchain is the technology we are most familiar with, which makes this reconstruction possible. Blockchain enables personal choice, control, and secure transactions through distributed ledger technology, and has the potential to disrupt current centralized services, whether digital or physical.

In Web2, people's access to services, data, and functions is restricted, and it is Amazon, LinkedIn, Facebook and other Internet giants who set the restrictions. Today, Web3 makes user input and interaction more democratic, and the next stage will usher in the flattening of access and ownership of the digital world.

As an emerging concept, Web3 is still in its infancy. New Web3 tools are rolling out. To refute conspiracy theorists who equate it to gambling, we contrast the dot-com bubble of the 90s with the blockchain ICO bubble of 2018. This kind of opportunistic news, while compelling, also makes people think about the possibility of continued development of these emerging technologies. Such problems will not weaken the technology itself, just as the Web2 problem did not kill the Internet, the ICO did not kill the blockchain, and the current controversy cannot obliterate the real application of Web3.

Charles: 2. Opensea acquired Gem last month, which had an impact on the NFT infrastructure sector. What do you think about this acquisition: does it stifle innovation for future projects? Or is this just industry exploration?Regarding this acquisition, we have several opinions: First, the current mainstream fakeThe ownership structure in anonymous wallets is imperfect.

Access is not the same as ownership. When a user is using a wallet solution, they cannot claim to actually own the wallet and the assets within it. When an NFT is still accessible before it is sold, it is just a picture that can be copied and pasted. In short, NFTs need a massive overhaul in terms of sales and ownership settings - and NEST® is addressing that.Second, OpenSea's "Lazy Mint" structure is misleading.

"Lazy minting" refers to digital assets listed on the market that aren't actually NFTs and aren't put on chain until they're bought by the next buyer. This means that the NFT listed may be pirated, unregistered, and buyers will mistakenly believe that they are all stored on the chain and genuine. This method makes the "free casting" or "low-fee casting" scams rampant, because our naked eyes can't tell what is a small picture and what is an NFT.Third, OpenSea, as a decentralized two-layer application, integrates three networks: Ethereum, Polygon and Solana. This acquisition of Gem is like comparing price comparison sites like Expedia, TripAdvisor or Kayak to an airline. When a single operator in a certain field can acquire any price comparison website, you can think about the meaning behind it. All in all, cross-exploratory discovery of existing networks will definitely bring practical benefits. However, in the "free market" sense,

It remains to be seen whether OpenSea's acquisition of Gem is actually beneficial for users to take ownership of their own.

3. The security of digital assets is the premise of Web3. Today we see an industry full of theft, scams and hacks. So, how do we solve the problem of security?Charles: User ownership is a prerequisite for Web3.

Otherwise Web3 will not be able to fulfill its potential. Securing digital assets requires incorporating layers of protocols that are often poorly understood and rarely, if ever, fully applied.

In a Web2 world, leading players provide either the most popular services and applications (such as social media) or specialized infrastructure (such as communication and productivity tools). Large enterprises must maintain this environment of trust and convenience in order for the network to function as usual. When users visit, they need to accept various forms of terms, which may expose privacy. This centralized authentication leads to the leakage of personal data (identity, access, usage, connections, assets, etc.), while retaining absolute control over the services and environments provided by large enterprises. They are usually companies with registered headquarters, offices. Their centralized nature puts the services and environment provided under the jurisdiction of geographical regions, which will bring multiple restrictions to users and companies.With the popularity of blockchain and related technologies, distributed technology and networks carrydistributed trust

. The distributed ledger guarantees the security of files and transactions, and the code itself is more trusted than any centralized gatekeeper. For any user, authentication is simply mathematical proof without external or third-party verification. Distributed ledgers are immutable and decentralized, so ideally they are not controlled by any jurisdiction, organisation, institution or entity.

In order not to repeat the architecture of Web2 and correctly use distributed ledger technology, users must keep their identities and digital assets confidential. Not only that, but they also need to securely and secretly link real-world ownership with digital assets and become the sole controllers. In order to truly secure digital assets, they must be

1) real world people,

2) Own and control clearly identifiable assets;As mentioned above, pseudo-anonymous wallet solutions cannot ensure real-world ownership.Centralized wallets can neither guarantee true confidentiality nor true ownership.

Therefore, NEST® individually encrypts personal information and data, starting with the technical infrastructure. To ensure complete privacy of users, NEST® never keeps or stores private keys, and cannot even access user data. In this individually encrypted environment on the device side, users can generate, own, edit and control SSDID (decentralized personal sovereign ID). This is a highly encrypted digital tool, and the user's signature can be used in different scenarios. Transactions on any network are publicly retrievable on-chain, but can only be decrypted privately by the owner.Since digital files are replicable, anyone with access can make a perfect copy of the file. Furthermore, multiple networks spanning different jurisdictions do not have a common database for verification. It has been argued that time-stamped on-chain events are immutable, allowing the authenticity of NFTs to be verified. This only shows that the "first" registered claim is valid, but it is not clear who claims it under what circumstances. Current custody of assets is often insecure without both definition and ownership of the asset being resolved. To solve this problem, NEST® ensures that all but (except the owner)No one else can download the digital asset's master file

. Instead, NFT data is individually encrypted and distinguished from publicly accessible, open registry data. In the case of art NFTs, a "photocopy" or lightweight version of the artwork is kept on IPFS or a similar open database, while the actual asset or master file is encrypted individually by the owner. All SSDIDs and data (assets) are stored by users in a secure blockchain network. Only authenticated owners can access, decrypt, sell or trade their digital assets.

Charles: 4. What innovations will happen in the NFT field in the future can be discussed from the infrastructure, tools and application layers.In terms of innovation, the most exciting development in the future is 1) NFT infrastructure can guarantee the security of users in using, controlling and trading digital assets. 2) The innovation of the NFT application layer. We think describing NFTs as "data as asset

For users, "data is an asset" will lead to any new form of interaction across functions or services, which involves the virtual world as well as the real world. Among them, the tools and infrastructure with the most basic functions will stand out. Now, the first thing we think about NFT is artwork and PFP. Next, we might think of NFT as a ticketing application. Subsequently, NFT can be applied more widely in the real world as a legal term, such as intellectual property (IP) distribution, creator usage rights, and royalty settings. Before long, NFTs can serve as credentials for long-term user engagement, such as membership/employee qualifications and smarter user profiles.

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