Another year, another cycle, another round of Web3 hype bingo, and yet another missed opportunity. Paris Blockchain Week (PBW) and its associated ETHGlobal hackathon only recently concluded, raining down more than $10 million in prizes onto promising startups. DeFi, AI, Gaming – all the buzzwords were present. 1,000+ applicants, 100 of the best companies on a short list, and a final 12 going head-to-head in front of 500+ investors. Sounds impressive, right? Let's cut through the champagne-soaked celebrations and ask a critical question: Where were the Southeast Asian voices?

Is Web3 a Western Echo Chamber?

We’re all told Web3 is borderless, decentralized, democratizing. When it comes time to write the big checks, it’s the same old faces that you see. The spotlight continues to shine on these same familiar geographies and their CEOs. Look at the judges: Jakub Rusiecki, Ashley Ouyang, and Alix Musset. These people are incredibly impressive people. Did the process of selection go deep enough to represent the diversity of the global Web3 community?

It's not about questioning the winners' merit. It's about questioning the system that consistently fails to provide equal access and visibility to incredibly talented creators and developers from Southeast Asia. These are parts of the world full of creativity and ingenuity, where adoption rates in many cases outpace the West. Here’s how you can see their mobile first approach in action. Their community-driven programs are a true reflection of their harmonious mix between old-world charm and new-world technology.

Why are we still having this conversation? Or are we so caught up drinking the Silicon Valley Koolaid that we’re just completely overlooking one of the largest goldmines of untapped potential?

Beyond Lip Service: Show Me the Money

The Start in Block competition, with its three tracks – DeFi, AI and Gaming & Consumer – is music to my ears. From 1k(x) to Crypto.com to Aptos Labs, these investors wield tremendous influence over the startup ecosystem. They can either launch a firm to meteoric success or ground it to failure. Actions speak louder than press releases. PBW’s stated mission is a concern for innovation and collaboration. How can they really do that if they aren’t actively looking for and fostering different talent from these underrepresented areas?

PBW boasted over 10,000 attendees and 420+ speakers. Big numbers, yes. But real representation isn’t just checking boxes. It’s true inclusion. It's about recognizing that innovation doesn't just spring from Western universities and tech hubs. It blossoms at the intersection of creativity and need, and Southeast Asia is a crucible of both.

We’re inspired by these fantastic projects percolating up from the region that are addressing issues facing the real world.

  • Microfinance platforms leveraging blockchain to provide access to capital for unbanked communities.
  • NFT marketplaces empowering local artists and artisans, preserving their cultural heritage.
  • Decentralized identity solutions addressing issues of digital inclusion and data sovereignty.

It’s not just their technological innovation that excites us, but rather their social impact, too. They need more than a seat at the table, not just some crumbs from the buffet. It’s inspired by their stated purpose to create meaningful change—as they describe it in the purpose statement of their XPRIZE competition.

Time to Build Bridges, Not Walls

Indeed, the Web3 space continues to promote itself as a meritocracy, a sense of a utopian equal playing ground where the best ideas prevail. Meritocracies don't exist in a vacuum. They just need the same opportunities, access to all the resources, and a fair shot at being seen and heard. That’s where the system is failing Southeast Asian artists and developers.

Now, let’s bring this full circle to the real world. Imagine that the next killer app for DeFi comes from Jakarta instead of Silicon Valley. At the same time, a groundbreaking AI startup sprouts in Manila, and a viral Web3 game hooks players in Ho Chi Minh City. Picturing a future where that prize creates meaningful transformation. It doesn’t just serve as a prize for the usual suspects and influence the coasts, but it empowers a region bursting with innovation potential.

  • PBW and other industry leaders need to actively scout for talent in Southeast Asia. This means going beyond attending established conferences and engaging with local communities, incubators, and accelerators.
  • Investors need to diversify their portfolios and look beyond their usual networks. There's a wealth of untapped potential waiting to be discovered.
  • We, as a community, need to amplify the voices of Southeast Asian creators and developers. Share their work, support their projects, and demand greater representation on global platforms.

Let's make that world a reality. Otherwise, Web3 will be doomed to repeat the mistakes of the past—recreating old power structures in a new tool’s echo chamber instead of providing meaningful disruption. The future of Web3 depends on it. What do you think?

Let's make that world a reality. Otherwise, Web3 risks becoming just another echo chamber, reinforcing existing power structures instead of disrupting them. The future of Web3 depends on it. What do you think?