The Massive Shift Towards Web 3.0 Is Huge
We heard it discussed a great deal but, for many, this remains a nebulous idea. The evolution of what is before us is happening, yet outside the view of most. Grasping what is taking place is going to provide enormous potential for the tens of millions who start to undertake this path.
Make no mistake, we are heading towards a world of unlimited opportunities. The world as we know it is radically changing.
We will see a time, within this decade, when 7B or 8B digital souls are online. This will create an environment whereby the value of what is generated explodes. Through the value capture mechanism, fortunes will be make by people who are presently on the outside.
In short, we are seeing the development of a self-sovereign financial system with open creativity and digital ownership though NFTs. Cryptocurrency is going to be at the core of what takes place in all our lives.
The digital revolution is taking place and it is massive. This is something that the world never saw before. Compared to the introduction of the Internet, this is like a rocket compared to a firecracker.
We are seeing the shortcomings of Web 2.0 being exposed. Many people are starting to question the intelligence of having a system built whereby so few companies have so much power. They have the ability to control most everything that takes place in our digital lives. In fact, they can effectively make people disappear by deleting their digital footprint.
Until recently, this means very little. However, this is becoming of even greater importance. As we see the financial system skewing even further away from the average person, it is paramount that we do not see a reproduction in the digital realm.
As our digital lives take on more meaning, and we accrue digital savings, the foundation for a new digital economy is being laid. The massive Network Effect that will take place as a result is going to be astounding. Some of the present crazes we see in the DeFi and NFT markets are examples of how this will go. In spite of the frenzy, these two areas are establishing a new method of ownership, compensation, and investing opportunities.
Things are going to get advanced very quickly. Within the next 5 years, it is likely that Virtual Reality (VR) is commonplace. It is already growing with the gamers. This is opening up many different avenues to disrupt present industries. Simply adding something to a gaming world can end up digitizing an area that is mostly done in the physical realm.
The debate over Bitcoin is inconsequential. In fact, that asset is mostly that in the grand scheme of things. While it set a lot of this in motion, there is a lot more taking place than simply creating a new form of money.
We are going to see the total remaking of society, but on a much larger scale.
Consider the fact that in the last 30 years, this already happened twice. The first was the introduction of the Internet which, today, we cannot envision life without. It altered how we work, socialize, get information, and entertain ourselves.
The second, of course, was mobile. This took us into the idea of "computerization anywhere" and essentially made the Internet ubiquitous. No matter where we are, the Internet is always available to us.
Web 3.0 is going to add to that by going spatial. It will be in 3D. No longer will our digital lives be on flat screens. Rather, it will be all around us. Stated another way, we will be a part of it.
As VR emerges and enters the mainstream, the users will find a host of development that is already taking place. The architecture for this new realm is underway. It is going to provide developers with a foundation upon which to expand their offerings, providing users with a growing menu of options.
What gets really interesting is the blend of all our different worlds. Reality will not only be the physical and real worlds, but also encompass our digital one. The line between life and gaming is going to be blurred. Essentially, our digital experience is going to be a game in and of itself.
The revolution is not cryptocurrency per se but, rather, digital assets. What we see in the physical world will be supplanted into this digital realm. However, this is an arena of exponential expansion and growth. Ownership takes on a different meaning as opposed to what we even see with Web 2.0. The controlling mechanism is going to be destroyed.
How does this occur?
Simply by the nature of the digital realm. It is a mecca for creation. No matter what one's talents, they all apply in this arena. Digital assets allow people to generation digital savings accounts through revenue streams, speculation, and other forms of programmed compensation. Smart contracts enable assets such as NFTs to convey new forms of compensation on a near eternal basis.
Within 15 years, there is a good chance that the VR world is being run, at least in part, on quantum computers, tied to blockchain, and has AI running all throughout it.
That is something that is unimaginable to most of us at the moment. Yet it does appear to be coming.
Consider a place where there are 8 billion people along with tens of billions of machines and untold numbers of avatars are all out creating, exploring, and generating. The opportunities keep going in unlimited directions since they are growing by the moment.
This all results in a completely new financial system, one that is for the sovereign individual. Without the "middlemen" aka rent seekers, people are free to benefit as they see fit. Transactions will be direct, with creators and consumers meeting direction.
We are in the early stages. That is why most will miss what is taking place. This is common since few people 30 years ago envisioned what the Internet would become.
Here we have a reproduction of that exact on a more massive scale.
The change for society will truly be monumental.
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