The study tour to Seoul and Taipei began on 13 Octobor. I did not expect to gain so much knowledge and insights during this trip. As someone who was not an expert in Web3 and AI, I viewed these concepts as distant and unrelated to my life. However, this trip has significantly broaden my perspetives, revealing that Web3 and AI are not only accessible but also relevant to everyone, regardless of their technical background.
There were many memorable moments. One of the them came during the “Web 3.0: Entrepreneurship and Governance” sharing in Seoul National University with Mr. Joe Park who is the co-founder of Blockchain Labs. He presented how his company developed the Web3 Technology-Based Vaccine Pass during COVID-19. What inspired me the most was his amazing journey in AI and blockchain. Joe Park shared a crucial moment from the early days of blockchain and tokens, when the hype was at its peak.. While others were caught up in the excitement, Joe took a step back to think about the fundamental questions: “Why we need blockchain? What is the purpose of issuing tokens? Should I follow the crowd simply because everyone else was doing it?”
Joe Park was one of the few at that time who pondered the true meaning of this technology. His thoughtful approach inspired me significantly. He highlighted the importance of being purposeful in his response to our questions, rather than merely following the crowd and asking for profit. It encouraged me to think about how blockchain could serve society beyond its financial applications, and its potential for creating meaningful change and innovation. I realise that entrepreneurship involves not just seizing opportunities but also considering the broader impact of our actions and the technologies we choose to embrace. Joe Park showed me that entrepreneurs have a responsibility to consider the social implications of their decisions and to use technology to bring positive influence. Therefore, when we were discussing our proposal in the workspace after his sharing, we spent much time thinking about what tokenization is all about, and whether it is necessary to use it. After careful consideration, we have decided to use asset tokenization in our project to enhance liquidity and creates fractional ownership. It would be ideal for our partial common ownership model.
During lunch, I had the pleasure of chatting with Professor Park, who was incredibly kind and insightful. When he knew my aspiration to pursue a master’s degree in international relations, he shared his perspectives on the current state of international relations through the lens of science and technology. As a scientist, he believes that advancements in these fields should ultimately benefit humanity. However, it is disheartening to witness powerful nations using science and technology as weapons, which contributes to heightened tensions in international relations today. This conversation not only opened my eyes to viewing international relations through the lens of science and technology, but it also reinforced my belief in the importance of effectively utilizing the technologies we have at our disposal. Technological advancement is a double-edged sword; while it can be wielded as a weapon in conflicts, it also holds the potential to enhance human life.
The experience in Seoul changed my perspective on Web3 and prompted me to rethink the meaning of technology and entrepreneurship. My time in Taiwan further exposed me to the hardships and realities of being an entrepreneur.
I still vividly remember how we immediately began working on our business model upon landing in Taiwan, feeling the pressure of our upcoming 4-minute presentation at AppWorks, one of the most successful tech startup incubators in the world. The nerves were palpable as we prepared to pitch our ideas, we even delayed our plans to visit the night market that evening (See Pic 1).
Pic 1: We delayed our night market plan for the pitching next day
I am incredibly proud of my teammate Donald, who clearly articulated our ideas during the presentation (See Pic 2). While I initially believed our business model was attractive enough for investors, the probing questions from Ching grounded us in reality: “Why would a business invest in our proposal?” It highlighted that our model lacked sufficient incentives to attract corporate investment. Hearing these questions made me realize the importance of considering real-life implications beyond the classroom. The insights gained from this presentation and the subsequent feedback were crucial for us to rethink our business model, making it more practical and aligned with market needs. This experience underscored the need for entrepreneurs to focus on creating viable solutions that genuinely address societal challenges.
Pic 2: Donald was giving an excellent pitching!
The trip created a mix of emotions for me. While the insights I gained in Seoul reinforced my belief in the potential of Web3 and technology, as well as my capability to drive positive social change—even as a non-tech expert—the experience in Taiwan brought me back to reality. It became clear that being an entrepreneur is far more challenging than I had previously thought. Our business model still had significant gaps that needed addressing. Surprisingly, the feedback we received during our pitch did not discourage me or my team. Instead, it motivated us to reflect critically on our approach. Although we were initially nervous about presenting at AppWorks, we embraced constructive feedback. It was enlightening to realize that our business model lacked sufficient incentives to attract corporate investment. After all, being an entrepreneur is about staying visionary while being realistic and open to feedback or even criticism. Having the courage to break and build the solution many times.
I want to extend my heartfelt thanks to Linda and Professor Chan for organizing this amazing study tour. I also appreciate my wonderful classmates for the fun and learning we shared. A special thank you to my groupmates for their patience when I struggled with key concepts of our project. I hope we can all take pride in our final proposal and believe in our potential to make a positive impact on society. This experience has deepened my understanding and strengthened our team bond. Thank you all for being an integral part of this journey!
