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SUSSNiFT News, Global Web3 Eco Innovation Summit 2022 (GWEI 2022) co-organised by Singapore University of Social Sciences (SUSS), SUSS Node for Inclusive Fintech (SUSS NiFT), DefiDAONews and title sponsored by OKX was held on 14th July at Singapore’s Sands Expo & Convention Centre.

With the rise of Web3, its lesser-known by equally important counterpart, cloud computing is also beginning to gain traction. Shawn Ma’s – CTO of APAC Region, PingCAP – has given a keynote speech during the summit explaining the importance of cloud-based data and TiDB. TiDB is an open-source, distributed SQL database that aims to serve various types of workload of elastic scale, in just one database. Data management system under TiDB is more agile, yet simplified. It enables both mission critical online applications as well as real-time data analytics without delay. TiDB has the ability to process a huge amount of data with the end-goal of providing simplicity dealing with online transactions and important real-time insights for decision-making.

The Web3 internet is built on fundamentally different infrastructure, and to adapt to this new structure, new methods of handling and interacting with data – such as the invention of TiDB – in a decentralized context need to be developed to account for the open, transparent and distributed nature in which Web3 applications operate.