Web 3.0 Will Create A New Middle Class

6d
LeoFinance
5 Min Read
989 words

We are moving towards the tokenization of everything. Actually, a more accurate description is the hypertokenization of everything. There will come a time when all asset classes are tokenized. This is going to include stocks, bonds, and real estate).

As we can see, this is going to amount to hundreds of trillions of dollars.

Of course, investments is just one part of the equation. The ultimate success of Web 3.0 is going to come down to the utility of what is being created. When the builders succeed, the entire equation changes. This is where a new "middle class" can emerge.

The digital world is expanding. Over the last 25 years, there is little debate about how powerful the Internet is becoming. Just looking at the online shopping numbers tell us how much is being swallowed up by this medium. By this point, most of the gaming industry operates online.

We have many different levels that will emerge.

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Blockchain Nation

Blockchains are going to be like nations. They are separate entities yet will have a high success rate if they engage with their "allies". Interoperability is becoming a focus which will enhance the entire economy.

We presently live under the Nation-State model. This is being replaced by the Network-State as shown by the likes of Facebook. Eventually, Web 3.0 will grow whereby Decentralized Network-States are the norm.

The notion of a blockchain as a nation is a shift for many. However, if you look at some of the basic makeups, they provide the foundation for the economy activity that is built on top.

Blockchains come with their own governance structure. We are still early in this experimentation model. However, the major advantage is the fact that voting can operate in real time and be ongoing. This is due to immediate feedback and instant impact as a vote is cast.

This is the infrastructure layer. When blockchains are built out, they serve as the foundation of "society". In other words, the core premise is focused upon. This provides the entrepreneurs and developers with certain things they need for further expansion.

For users, the real magic is at the second layer. Base layers are very valuable as are some nations.

The middle class, however, tends to focus elsewhere.

The New "Multi-National" Company

What do companies such as Tesla, Amazon, McDonalds, and Coca-Cola have in common? They are all multi-national corporations, doing business in a number of countries.

Web 3.0 is going to have its over version of this.

Projects that are cross-chain will end up being the new multi-national corporation. These companies will, eventually, grow in size to generate billions of dollars in revenues. Just like Facebook and Amazon were able to dominate the Web 2.0 world, there are going to be companies of equal stature in Web 3.0.

These platforms will be accessible from anywhere. They will have "operations" on many different chains, increasing the target audience. With easier user engagement comes more revenues.

Many of these could end up being structured as Decentralized Autonomous Organizations (DAOs). They will have their own governance models, providing more power to the users.

The key is going to be the fact that tokenization blurs the line between the different stakeholders. Today, we have customers, shareholders, and employees. Some might fit into a couple categories but, most often, the customers are not shareholders, thus being omitted from the financial gains of the company.

With Web 3.0 companies, the users are the owners. Here is where we will see the new middle class come from.

People will end up engaging with dozens of these companies on a daily basis. Each will have their own incentive systems which will benefit (financially) the userbase. Over time, if the network effect starts to expand, the value of the holdings will increase.

Reorganizing The Economy

Cryptocurrency is changing how we distribute economic output. Web 3.0 is taking the online world and turning it on its head.

Essentially, capital and staking income is going to become more important that that derived from labor. We are entering a realm where everything is financialized. This means that Decentralized Finance (DeFi) is taking over.

The merging of the different states of people is paramount. Most of us here the term prosumer. This is the idea where the content consumers are also creators. The reverse is also true. Here we see a radically different concept compared to traditional broadcast where there was a clear line between the producers and consumers.

For example, one writes an article and others read it. The line is clear. It changes, however, when a reader comments, starting a discussion which adds to the article. Of course, in Web 2.0, only the author (or the website is monetized).

With Web 3.0, all parties can receive financial benefit from the activity put forth. This is where economic productivity is altered. With the distribution of tokens, each person has a host of choices of where to go after that.

We will ultimately get to a point where the financial opportunities will far outweigh the resources we have.

Cross-chain applications are going to be a larger part of the global economy. This is something that billions of people will partake in. For most, going online will be a money making opportunity. Of course, there will be those who thrive as well as those who do not.

Nevertheless, Web 3.0 is going to create an entirely new middle class of people around the world. Each person is going to have the opportunity to get involved in further expansion of the Internet.

Tokenization is a radically new concept that basically changes everything. As mentioned, there are hundreds of trillions of dollars on the line.

What are your thoughts? Let us know in the comment section below.


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I am not sure for middle class, but it might help poor people to reach some wealth.

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Yes true!

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It should help to raise the lower levels up too. That is true.

However, there are going to be some who do not excel in this arena while others are major successes. Most will simply end up as okay.

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This is already happening, but rather at a slow pace. We keep seeing "new money" entering the economy daily through the help of tokenization, cryptocurrency and technological advancement.

It's only a matter of time before we see a massive turnout in numbers of the middle class available in "New Nations".

2

Yes I agree. Hive can be looked at a nation, the Hive nation. We are going to see the economy grow and expand as more "multi-national" projects are built.

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1

We are already experiencing it on Hive, we see Leofinance spreading out onto other chains for DeFi, Splinterlands, Actifit. Now with more DApps replicating these and tokens appreciating, it will sure be having a positive impact on people's livelihood.

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0

I have personally seen my social status elevated by crypto alone and with very little starting capital. It started happening as soon as everyone gained access to the crypto markets.

Many people that weren't impacted by this still fail to see the value of crypto but from my perspective, it has already been a life-changing experience.

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0

I like the economy you described here :) It's something that everyone must see and shall I say, get excited at? The ecosystem going multi-chain will be very great.

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1

A project like Leofinance is already operating multi-chain.

That is why something like that has great potential. We need to be aware of this stuff developing ahead of time.

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Oh yes, LeoFinance is multi-chain already. This is one thing that those selling LEO at a bargain price don't see.

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0

when it comes to blockchain nation I'm still dreaming of Hive island were everything is priced in Hive :)

1

In HBD.

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0

HBD would make things easier but we have create more ways to easily buy HBD without centralized exchanges and stuff

0

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0

Web 3 is a new revolution after internet. Internet has changed everything in our life and Web 3 also going to change our life to another level.

1

It is a natural evolution away from the Web 2.0 silos we have constructed.

The shift addresses security and commerce, both of which wasnt part of the original protocols.

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1

Do you have any guesses on when we'll see the "final form" of this? Like when DAOs have more power than sovereign nations? Bitcoin maximalist Michael Saylor is calling for more regulation of DeFi because he claims they're all shit coins and they hurt Bitcoins price because BTC is used as collateral for these unregistered securities. I'm wondering if you think the 19,000 or so cryptocurrency's in circulation will actually be a part of this future, or if they are indeed "shit coins" and it will be new web 3.0 tokens that create this future.

1

I dont think there is a final form just like there was no final form of Web 2.0. Things will always being evolving.

People like Saylor end up being cancers. Calling for regulation? That sums it up there.

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1

How will this middle class be taxed? Will governments force you to sell HIVE to pay taxes in fiat if we get to the point where you don't need fiat anymore?

1

Taxes are going take place regardless. Countries are going to figure out how to get their cut. Remember, we are all in partnership with the government.

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I'm excited about this - I just hope that I'm wise enough to make my fortune with crypto, while helping projects that I believe in...

!PIZZA !ALIVE

0

PIZZA!

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0

This is truly exciting 🤩
It will evolve into something wonderful 😎

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0

I’m speechless, I agree with you, but I’m pretty new in LEARNING about it. I’ve been on the Internet for a long time, but I was just a consumer, and a very lazy one! I love to CREATE! And thank God a couple of years ago (not that long), I realized that I have to take an active rol on the Internet if I really want to be a creator in XXI century!

And I started to read more and more, and I’ve been doing that in a committed way only for a few months, and this is incredible. Is a revolution inside a revolution, inside another revolution!!

It’s fascinating, but we have to be aware of the power of this universe. For all the parts: the consumer, the creator, the rich, the poor… the good thing is that is enough for everybody here. What you need is to stay open to constant changes, learn EVERYDAY and be updated, and understand the role that you want to play in this game.

Thanks for your post!!

0

We are already seeing a glimpse of tokenization with Hive, which kind of places Hive into the future as this space evolves.

Being online is no longer going to be for the sake of it but with monetary rewards to it, the masses once grab the understanding of what is taking place is going to be the turning point.

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In any economy, the middle class is the strongest stratum, only yesterday I spoke about this in my post, but whether the upper class knows how to appreciate it, that is the question.

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People who are unfamiliar with web3.0 have no interest in blockchain or cryptocurrencies. They still believe this is some kind of fraud or something. Sir, thank you for bringing this up.

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We are seeing this on hive, we see where hive money is used for borehole in Ghana and one of our favorite writers using it to pay rent and by the time web3 is fully adopted it will change so many economy

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0

Very interesting your article, Web 3.0 has changed things a lot nowadays, but I have also seen that they are talking about a Web 5.0, what do you know about it?

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The truth is that it is very true that Web 3.0 is here to stay and that implies many paradigm shifts; changes that, on the other hand, are always for the better.

In my opinion, Web 3.0 is a true revolution from the point of view of the involvement or interaction achieved by both the creators and the consumers of the content. The revolution implies that now we can know not only the opinion of the authors of the posts, but also of their readers; what derives in an enriching debate that makes the readings more interesting and manages to make knowledge expand to levels never seen before.

And if we add to that that thanks to Web 3.0 both authors and commentators on authors' content can be rewarded for their actions, then we can truly understand the magnitude of all this.

Excellent Article. Thanks for sharing. Greetings

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We will ultimately get to a point where the financial opportunities will far outweigh the resources we have. — this spells fortune rather than doom right ?
Web 3.0 creating a new middle class isn’t far fetched . Web3 is not only a new foundational layer of the world wide web, it is a fundamentally new approach to corporate governance, value creation and stakeholder participation with pari passu interests. It presents an opportunity where people are not merely products or beneficiaries of technology-powered business models but builders and owners of digitally unique assets.

0

It's interesting to see and I think we are already seeing the changes. Before it was tech chasing after the banks but now it's the banks chasing after the tech. Large cities are slowly seeing people move away.

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If Web 3.0 will create a new middle class, then it addresses the problem of social unrest.

I am proud to be a Hiveans. Just curious to know which generation I belong to.

So Hive can be a candidate to be one of those MNCs'?

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Do you mean "a Hivean" or "one of the Hiveans" instead of a Hiveans? 🤔

Have some !CTP! 😁

0

😆 Maybe someone typed that additional "s." 😄

!PIZZA

0
5d (edited)

Before the poor and middle-class range people, the riches are going to rule here, and by the time the middle-class range people come this far, they will still be manipulated and be the ones working under others. It is true they will get the freedom to earn but the question is how much of it will they actually get? Not every poor person is getting access to the internet. Not every middle-class family got their access to the internet, but yes it has developed more than before, true. But, it is too early to say if web 3.0 will create a new middle class. I still have doubts in my head.

0

it is really a big milestone created with the advent of web 3.0 version and already we have seen billions of blocks been created, numerous chains been formed and the decentralized finance has got into a new stage.

Technology and the cutting edge has surely put forth the fact that, there is no limit attached to anything, the poor to the higher class can avail it and the system ahs created a new " equaliser ",that ensures level playing field for all the classes we see.

Now,its time to see more of the growths come on the way.
👍

0