Web3 has been hailed as a technology model driven by the creative economy that is the future, or rather the next evolution of the Internet. As we make evolutionary comparisons to the technologies that underpinned everything from the consumption of information to the creation of content, Web2 fueled unprecedented economic growth and marked an important era in human evolution with new ways of working, consumer information, and the advancement of human civilization. So, with the massive success of Web2, why do we need Web3?

As we are redefining the Internet, which is mainly dependent on a few central devices containing hardware, information channels that power social networks, mobile applications and provide points of contact between service providers and users of these services, controlling these channels not only gives guardianship over This monopolistic control infrastructure, but also “too big to fail” economic bottleneck. Thus, the reassessment of the Internet, which was primarily intended to convey information and transform it into mobile value and reality, is a fundamental shift in empowering creators and participants, not just infrastructure managers.

The driving forces behind this turbulent mindset were the overvaluation and control of Web2 companies, the censorship of the current control of information channels, and the rapid dissemination of information, which was a force for good, as in the transfer of knowledge, but is now a weapon with speed and truth. Information and the spread of bias, distrust and misinformation, making it difficult to distinguish between signal and noise. These driving forces not only signal the beginning of a new era, but also the creative nature of humankind to rethink, redesign, renew and reshape the next era of our evolution.

Related Topics: What the Hell Is Web3 Really Like?

Web3 necessities
So how do we envision the formation of this new paradigm? As Web3 seeks to theorize that the Internet is taking another step towards self-sufficiency, leading to a whole new set of technologies and protocol developments that will then become the basis for a creator-controlled economy that includes the movement of information and value and has tangible consequences. Channels with built-in trust and protocol-enabled. Blockchain and decentralization are often cited as key concepts that are central to the development of such a platform. But before we move on to decentralizing Kool-Aid, I think we should take a step back and reconsider the successes (and failures) of Web2, and most importantly, move to this new paradigm, where I suspect the problems aren’t just with technologies. slice.

Related Topics: Web3 Could Be the Key to Regular Market Cryptocurrency

To enable a Web3-based creative economy that empowers creators and contributors, we must first understand the imperatives of a sharing economy that focuses on autonomy, efficiency, and sustainability and build a decentralized economic system designed with strong and secure incentives. Protocols that involve social responsibility, independent action, and accountability for results.

The origins of the sharing economy go back centuries with thinking and experimentation around the idea that people should be able to control their lives with others (on the same network level) in cooperation and honesty with the rules embedded in the incentive economy that reward sharing. And punishment for violations and actions that the network considers unfair. In other words, for Web3 to work and deliver on its promises, we need to get involved.

At the most basic level, participation is possible, as in the real world, through the allocation of resources such as systems, protocols, skills, intellectual capital, experience, etc., and value creation must be equitably distributed among the various participants on the basis of basic principles of supply and demand to meet the element Justice. The economic value created must then be realized, accounted for, distributed and exchanged with other replaceable and non-exchangeable assets to maintain the equilibrium of any financial network – all without any central accounting system or authority – to govern itself. Governmental structure and protocol for justice.

Web3 in its current context is beginning to look like a system of privileged state networks. These token networks not only attract capital, talent, and technology and give them the status of a nation-state (with its economic structure and currencies in the networks), but are also markets and laboratories for the co-creation of different projects. We are starting to see how they appear in different projects.

Source: CoinTelegraph

LEAVE A REPLY