Future Forward: Blockchain, Web3, and AI Technology with Doğukan Akkaya

Doğukan Akkaya, Full Stack Developer at Cyrex Enterprise, discusses the future of the tech and development world. From blockchain technologies to Web3 and new developments in AI, how viable are they? Have they reached their potential? And what is going on in the world of blockchain and Web3 now that the hype has ebbed?

This week, we found our way to the desk of Doğukan Akkaya to hear his thoughts on the world of blockchain, Web3, and AI. Evolving and ever-changing, it can be hard to keep up! Let’s start at the beginning though, for any who need it, at a breakdown on blockchain.

Blockchain, it’s quite complicated to newcomers! Could you explain it to me like I’m only 5 years old?

Sure! Imagine that thousands of people in the world have these diaries. Each diary contains the record of every trade and transaction that occurs between the diary holders. These diaries can’t be altered or erased. So, your friend borrows a toy from you, that gets saved into the diaries as a transaction. A month later, your friend pretends and says he hasn’t borrowed it. He can’t do that though, because the diaries have the proof and thousands of people have the record of it happening.

Now banks, they do the same thing. They track transactions of everyone they’re involved with but they’re the only ones with the diary and they have control. A bank can intervene, change things as they see fit. But in this world of diaries, you’d need to own more than half of them to do that.

In this world, the diaries are the blockchain itself. The pages are the blocks that all connect through the chain. And the people who own the diaries are the miners who conduct transactions for everyone involved.

A while ago, there was a seemingly unstoppable hype around Web3. Now it’s all gone very quiet. What happened?

There are a lot of factors that influence the economics of cryptocurrencies. Physical world economics, government politics, private company interests, and then simple human nature of passing interest. Another element is that Web3 showed up and there were a lot of promises made, which went unfulfilled in a large part. It’s unclear if they ever will be.

Metaverse is a good example. There was a lot of hype and I think some early adopters got carried away. People were looking for “Ready Player One” but it’s very early days and we’re far off that goal. It’s a big change and early for this technology, there’s potential in the future but that can be hard to see for those looking for a quick solution.

The same can be said of NFTs. People still aren’t looking at blockchain and its elements as a technology, we’re seeing a lot of people viewing it as an easy investment and easy money. That means lack of immediate returns led to disappointment and abandonment en masse.

Do you think Web3 will come back? And if so, how?

Well, Web3 has never gone away really! Projects continued to be developed, popular chains are still getting updates. We see new projects arising all the time, new blockchain agreements being made and explored. There’s an attitude that because Bitcoin’s price is swaying a bit that blockchain is dead in the water. We need to dispel this myth that “blockchain = cryptocurrency and Bitcoin”.

It’s a technology! It can be used in so many ways. Saying that it’s just crypto and Bitcoin is like saying the Internet is gone because Google’s stock price decreased. It’s just a part of the blockchain world, it’s not even close to the whole thing.

Moving to where hype is at the moment. Is AI the next blockchain? The new toy that is hot and will be left behind once something new comes along?

I don’t think so. They’re both very different in their uses and places in tech. I think they’re both here to stay but AI has many more immediate uses in our work and lives.

Every day we see incredible jumps in AI technology. AI supported GPUs, self-driving cars, coding assistants, and much more. AI is a field that can be used with or assist almost any other technology or field. Its use as an assistant or guide is unparalleled with some fact-checking and human proofing.

The potential is huge. In terms of human lifespan, it’s quite short when it comes to scientific breakthroughs and exploration so I think it’s a short jump to view these as soon to be assistants in space exploration and other ventures. It’s a lot to declare but it is amazing to see AI tech generating millions of molecule combinations to generate oxygen on Mars. Even if it’s early, that’s just incredible! AI powered space exploration is something I hope I get to see!

On an everyday level, it is a lot of fun to play with. I’m a Star Wars fan so getting to see things like “Anakin but he reached his full potential”, these nigh-infinite alternate ideas that can be generated and explored using AI technology. Like our own home-grown version of “What If…” but we don’t have to wait for the studio to make it!

There are some concerns regarding AI and its use. What do you think the future of AI is regarding security, privacy, and the rights of creatives?

Of course, it opens up doors to ethical and privacy concerns, never mind stuff like copyright. It has to be treated with caution as it continuously proves unreliable in providing information without a human fact-checker. And the creative side of it needs to be monitored to ensure real artists and creators aren’t undercut by its uses.

Besides AI and Blockchain, is there anything you’re eyeing as the next market changer?

There’s a pretty extensive list! A few highlights include quantum computing, neurotechnology, biotechnology, space exploration, renewable energy, and more. From the average person’s point-of-view, I’d say none of these might stand out as a market changer as AI will likely stay at the top for some time.

We’ve a lot to figure out with its uses for personalized healthcare, personal assistants, and much more. I’d say we might even see IoT and wearable tech supporting AI in the near future.

How do you keep up with all these fast moving technologies?

It’s almost impossible to keep up with everything! You have to pick your battles. I follow up on things I find interesting but typically I follow GitHub for open-source project releases, YouTube for some great tech and science hubs, a few select blogs, and some other social platforms. There’s a lot of tech and science websites you can follow that give a great front page to evolving developments. 

Closing Thoughts

It’s an exciting world in tech today. You haven’t seen the last of Web3 or blockchain, they’ll come back into the limelight. Though I really can’t wait to see what we do with space exploration and AI!