Everyone's saying Web3 is the "next big thing".
But no one seems to understand it.
Here's a dead-simple explanation of Web3 and how will it change the world:
But no one seems to understand it.
Here's a dead-simple explanation of Web3 and how will it change the world:
Part I - No one understands Web3
Most people think Web3 is a new shiny toy.
In reality, it's an evolution of the internet.
Yes, an evolution just like in Pokemon:
Web1 → Web2 (now) → Web3
But what if Web3 is no longer the internet?
Most people think Web3 is a new shiny toy.
In reality, it's an evolution of the internet.
Yes, an evolution just like in Pokemon:
Web1 → Web2 (now) → Web3
But what if Web3 is no longer the internet?
Part II - Web3 is blockchain
Blockchain? Wtf?
Let me explain:
Think of Blockchain as a shared Google doc:
• This "doc" is co-owned by all users
• Any user can suggest changes
• Changes are reflected only when 50% of users approved them
Blockchain? Wtf?
Let me explain:
Think of Blockchain as a shared Google doc:
• This "doc" is co-owned by all users
• Any user can suggest changes
• Changes are reflected only when 50% of users approved them
Web3 = Users control
Web1 → You can only read what is published
Web2 (today) → You can read & write on social media
Web3 (tomorrow) → You own/decide what is to be read & written
Web3 is controlled by the community (50%+ approval)
Web1 → You can only read what is published
Web2 (today) → You can read & write on social media
Web3 (tomorrow) → You own/decide what is to be read & written
Web3 is controlled by the community (50%+ approval)
Everything will be decentralized
Today:
• Information is stored on central servers
• Controlled by a central entity
Tomorrow:
•Information will be stored on personal servers
•Controlled by the users
This change is already starting to happen around us.
Today:
• Information is stored on central servers
• Controlled by a central entity
Tomorrow:
•Information will be stored on personal servers
•Controlled by the users
This change is already starting to happen around us.
Part III - What are cryptocurrencies
Crypto is a Web3 application for money.
Yes, co-owned Google docs or blockchain used instead of 💵
Money → Controlled by a government
Crypto → Controlled by a co-owned ledger owned by users
Crypto is a Web3 application for money.
Yes, co-owned Google docs or blockchain used instead of 💵
Money → Controlled by a government
Crypto → Controlled by a co-owned ledger owned by users
Crypto is a new way to pass on value:
Old way: John transfers money to Sara through a bank
New way: John transfers bitcoin to Sara using Blockchain technology
Old way: John transfers money to Sara through a bank
New way: John transfers bitcoin to Sara using Blockchain technology
Part IV - Is this the end of the internet
I hope not!
Web3 is going to:
• Empower users
• Enable massive levels of personalization
• Move global community to countless small communities
So all tech giant monopolies are going to die?
I hope not!
Web3 is going to:
• Empower users
• Enable massive levels of personalization
• Move global community to countless small communities
So all tech giant monopolies are going to die?
Part V - No more big tech monopolies?
Yes and no.
The move to Web3 means it’ll be hard for 1 big brand to serve everyone.
Instead, to survive, they will need to:
• Allow mega levels of personalization
• Own 1,000s of niche dedicated brands to serve web3 villages
Yes and no.
The move to Web3 means it’ll be hard for 1 big brand to serve everyone.
Instead, to survive, they will need to:
• Allow mega levels of personalization
• Own 1,000s of niche dedicated brands to serve web3 villages
Will this change the world?
It certainly is, but no one knows the final shape that Web3 will take.
What do you think?
It certainly is, but no one knows the final shape that Web3 will take.
What do you think?
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