The Hive Nation: No Longer A One Trick Pony
When going back to the origins of Hive, we know it started as a blogging platform. The idea was to create something similar to Medium whereby the community would find and reward long-form content. While things didn't go exactly as planned, we see the foundation upon which a lot more was built.
In the early days, there were two tokens, HIVE and HBD. Naturally, HBD was overlooked so it was just there. Some were able to trade it since it was apt to go on huge runs. The idea of the peg was not even considered.
Today, there is so much going on. Before our eyes, we are witnessing the formation of something much bigger. Eventually, many of us believe it will be home to millions of people who are earning at least part of their living from the Hive ecosystem.
Decentralized Network-State
What we are creating is a Decentralized Network-State. The digital world is growing and becoming an ever increasing important part in people's lives. This is going continue throughout this decade.
The end game to this could be the eventual replacement for the Nation-State. Here is a concept that might be running its course. Just like Feudalism was once the overriding governance model, perhaps the idea of the Nation-State, by the end of the century, will be viewed through the lens of history.
In the meantime, we are embarking upon another generation of advancement. Many are touting the idea of Web 3.0, which is going to transition out the use cases from Web 2.0. The later introduced us to the concept of the Network-State. This, unfortunately, operated in a centralized manner. Thus, we are presented with the same structure, hierarchical in nature, utilizing a top-down approach. This is highly effective as we found out and allows for a great deal of control.
What is occurring now is the foundation for the next step forward: decentralization and distribution. While many focus upon tokenization and the monetary aspect, the true power comes from the fact we are dealing with complex systems that are horizontal in nature. Their expansion is organic, with few in charge. To truly see this, it is best to step back and look at the industry as a whole since it is not likely found in any one individual project.
Nevertheless, we are at the point where something like Hive can be viewed similar to a nation. It is a networked entity which has its own monetary system, economy, and governance. Naturally, much of this is still in development, providing room for adaptation and growth.
One of the key differences with the new concept is the fact it is voluntary. Nobody is forced to be part of the Hive community. People are free to exit at any moment and live under a different set of rules. They can find whatever suits their needs if not being met here.
Trying to do this in a world of Nation-States is rather difficult. Simply picking up and moving to another country is not something people can do easily. It is wrought with a host of challenges. Those are removed online.
The Hive Economy
There is no mistaking where Hive stands on the economic scale at this point. Nobody is going to confuse it with the United State or China in terms of economic power in this realm. However, that does not mean it is not achieving a rapid pace of growth and spreading out into many different segments.
When we look at the features being utilized on Hive, we see a lot of the hot buttons for the industry. Here is a quick list of the areas that Hive is already active.
- Blogging/Vlogging (Social Media)
- Gaming
- Decentralized Finance
- Non-Fungible Tokens
- Decentralized Autonomous Organization
- Communities
- Stablecoin
- DEX
- Fundraising
As we can see, Hive is far from a one-trick pony. There is a lot being offered. Does a lot of it need more work? Certainly. Nevertheless, we can see the many different directions that Hive is heading. In the ever-evolving digital world, this is important. We never know what is going to interest people.
Throughout all of this, we see the Hive economy really starting to take off. Since there is activity occurring in the areas just mentioned, we are seeing progress made on all fronts. Many want the overnight success yet things rarely work that way, at least not in the long-term. Growth is a grind over an extended period of time. The efforts being made daily by thousands of people is the foundation upon which future success will occur.
One thing that we already saw is the numbers, across the board, are increasing. As more is created, it starts to follow the network effect which is the standard in the digital world. We know this can happen very quick, powerful manner. Exponential growth curves tell us there is a point (the elbow) where things go parabolic.
Here is an example:
Unfortunately, in the early stages, it is like watching grass grow. This is especially true if we are viewing things from a short-term perspective. Stepping back again helps because it gives us the understanding of where things were a year or two ago. More importantly, it tells us how far things came.
If we continue to utilize the "nation" mindset, we can see how things start to accelerate. There are a number of factors that come into play. They are:
- population
- businesses
- economy
In this realm, the first is users. As that grows, it starts to feed into everything else. We see a simultaneous expansion of the number of businesses (applications) as more developers find their way to the ecosystem. All of this has an impact upon the overall Hive economy.
Of course, with more options, people are able to kick off Reed's Law. People start to get involved with many different applications, all feeding into the Decentralized Network-State.
It will eventually lead to the parabolic growth on the exponential chart. That example uses a 30% annual growth rate, something that is minor compared to what is taking place on Hive. All of this comprises the wealth that is being generated around this network.
For those who believe that Hive is still a blogging platform, it is best to look around. We are seeing an economy that is becoming diverse and resilient. Value is represented in hundreds of tokens, many enjoying their own growth rates.
It all feeds into the same pot. Economic expansion is aided when it is based upon many different industries. Those economies which are built around one or two main industries tend to be fragile and can suffer major setbacks. Hive is spreading out wide. This allows for enormous wealth generation in a variety of areas.
Resiliency also protects one from outside attack. With big money players entering the arena, this is vital. Ultimately, it comes down to resource availability. Resilient economies tend to always have resources accessible.
The Hive Nation is spreading its wings. As we close out 2021, we can see how far things came from the start of the year. If we were able to formulate some kind of GDP, we would be up a massive amount over the prior year. This is how things unfold.
We can look forward to more of this in 2022. This story is just getting started.
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