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Universities are essential contributors to the future of Web3, according to LBank Labs executive.
Universities hold a “critical” responsibility in cultivating the upcoming generation of Web3 talent, and academic institutions must comprehend this to steer students towards the appropriate vision, as stated by Czhang Lin, a board member of Web3 venture fund LBank Labs.
On August 2, the venture capital firm revealed the winners of its Summer Bootcamp competition aimed at university students. Numerous participants from various educational institutions competed for a chance to win a trip to Cabo San Lucas, Mexico, along with mentorship opportunities from cryptocurrency funds.
We are excited to announce the winners of the Summer Bootcamp retreat organized by LBank Labs in Cabo!
16 teams from around the world were selected from over 70 applicants from leading global universities @Harvard @MIT @DukeU @Stanford @Cornell @Penn @imperialcollege @itu1773en…— LBank Labs (@LBankLabs) August 2, 2023
In a statement provided to Cointelegraph, Lin emphasized the significance of universities in shaping the future of Web3. He noted that universities are “critical players for new tech” such as Web3 and serve as a primary source of talent. “It is essential for universities to grasp Web3 and direct students towards the correct vision,” he remarked.
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Despite the markets showing indications of a bearish trend, Lin asserts that it remains an opportune moment to build and invest. He stated:
“The bear market is always the best time to build and to invest. During this period, VCs [venture capitalists] are more demanding and may exert greater pressure on the startups from universities. However, we firmly believe that diamonds will shine regardless, and persistence is their greatest ally.”
When inquired about trending topics among college students, Lin noted that another “buzzword” has emerged — artificial intelligence (AI). Nevertheless, he believes that the rise of AI should not pose an issue, as both sectors can collaborate effectively.
Related: NFTs in the academy: Combating counterfeit credentials and inequitable wages
Regarding trends among the university students who took part in the competition, Lin mentioned that the majority of applicants concentrated on decentralized finance, liquid staking derivatives, zero-knowledge proofs, and decentralized applications.
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