Will Web 3.0 Change The World?

in LeoFinance20 days ago

It is often hard to separate reality from hype.

When it comes to technology, it is easy to fall victim to getting excited about what is coming. We see this repeatedly. When it spreads to the masses, we find ourselves in massive hype cycles.

This is often accompanied by market conditions that bubble. We saw this with the Internet and the dotcom era. cryptocurrency has gone through this, most notably the ICO craze.

Thus, is it prudent to ask whether Web 3.0 will truly change the world or is it just hype based upon wishes and dreams?

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Web 3.0 Is The Real Deal

Web 3.0 is going to change the world. This is not the question. More appropriate is to ask how Web 3.0 will alter things?

That said, many still feel it is nonsense. For this reason, perhaps it is best to define some things and dig a bit deeper.

When referring to Web 3.0, it is important to understand the wide net that is being cast. This is more than just blockchain and cryptocurrency. It also includes AI, robotics, advanced energy, and bio-tech. Many of these are in the early days so seeing the overall progress is difficult.

We also have to factor in convergence. This is the most powerful of all technological forces. When parallel technologies converge, there is an explosion. The smartphone is the best example of this. We saw immediate impact, relatively speaking, in the developed nations. The penetrate rate went from 0 to 70% in record time.

This is going to be dwarfed by the next major convergence. My guess is it will be AI and robotics but other things could step up.

It is also why I say this is the real deal. We are not dealing with hype. Instead, we have large sums of money going into areas that are making tremendous progress. Anyone following the robotics industry knows a great deal was accomplished in 2024, which is only 1/4 done.

To add more fuel, we see the progress of LLMs and where those tentacles are heading. The fact they are being incorporated in more applications, with updates emerging regularly, shows this is not just proof-of-concept tech.

How Will Web 3.0 Change The World?

Here is where things get a bit cloudy.

For those involved in cryptocurrency, we are going to see a massive shift. In my mind, blockchain is essential in this equation. We are seeing projects rolling out that use blockchain as the foundation. We know the open source technology is really growing, especially as it relates to LLMs.

How about one that is build entirely on blockchain? That is what is behind the idea of Zarqa. This is taking the concept of Web 3.0 to an entirely different level.

What is interesting is Wall Street is going to help massively in this endeavor.

Some firms are concentrating on the idea of real world assets being tokenized. This will be rolled out, focusing upon major asset classes.

How this helps is it opens the door for smaller projects, using decentralized technology, to do the same.

In other words, the numbers game starts to favor the smaller players. If one raises $500 million, they might get on the radar of organizations such as the SEC. However, if tens of thousands all over the world are doing this to the tune of $15K, it is a much different story.

That is one of the advantages to blockchain: it removes the intermediaries, driving down costs.

OpenAi and Microsoft want to develop a $100 billion data center project. Here again, we can see this eclipsed by the blockchain world. When we take the different networks, in totality, it could far surpass what these entities are looking at creating.

As stated in another article, the world is going to need all the compute and storage it can get. If data is the foundation of all AI infrastructure, the shortage means blockchains will have to be a part of the equation.

The Age Of The Entrepreneur

Much of our world is consumed by major corporations. It is a trend that will continue for a while.

Nevertheless, the door is opening for the entrepreneur. This is an individual who is shut out of the existing business system. It is hard to compete against global entities that are consuming all around them.

Here is where fractionalization enters the picture. I often mention this when referencing media and the attention economy. It does, however, extend to blockchain ecosystems, possibly moving up to the level of network-state.

The tools that are being handed to people are getting ever more powerful. This means that each person has the chance to develop a $10M-$100M initiative. We are going to see these pop up all over the place.

With Web 3.0, micro-funding, something that cryptocurrency excels at, can help to drive these initiatives. That is also restricted when it comes to the traditional business and financing world.

Very few people are able to acquire venture capital funding out of Silicon Valley. However, consider the ideas that could be funding simply using a currency like HBD. seed money for smaller projects suddenly is possible.

This is why I am a firm believer that every account is a business. When things are monetized, one is no longer a user. As people acquire more resources, we have business and finance 101. What is going to be done with the money?

It is here where some will excel.

Again, having this converge with some of the other technologies mentioned shows how quickly things can change. People will become billionaires simply from building massive enterprises on Web 3.0. This might be done through single initiative or by investing in hundreds of them.

In other words, it is a wide open field.

Those with entrepreneurship are going to excel. It is going to require time, effort, and a great deal of learning. Nevertheless, those who start to view the opportunities differently as compared to what went before will see possibilities that others miss.

Web 3.0 will allow people to take advantage of that.

We have roughly 5.5 billion people online. Is it possible to reach a couple hundred million of them and get them involved in some manner?

Those that figure out how to answer that question in the affirmative will likely be the household names of tomorrow.

What Is Hive

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In my own view, and a strong one at that: if web 3 is successfully adopted, it will change the world

Web 3.0 no doubt holds great promise for positive change and its success will depend on overcoming technical challenges as well as addressing regulatory concerns, which will ensure widespread adoption in the long run.

If implemented thoughtfully and ethically, Web 3.0 has the potential to empower individuals, drive innovation, and reshape the way we interact with technology and the internet.

It does hold promise. I am coming to the conclusion it is really the only way to combat the mega tech companies and the push of AI.

This is a very nice read. Seeing more power to the smaller players can be healthy. Seeing AI and robotics take jobs from people is disheartening, but this is a good development of technology.

Web 3 been Decentralised system will certainly set the standard and it is just a matter of time before it comes to the limelight. Web3 is the future

The world will likely to see some giant centralized company to compete against the 5B people who are building something which would set a new trend of ownership, data safety and economic empowerment backed by personal protocols.

We all will be consciously or subconsciously be a part of the game, where new world order might be settled. But future is still unpredictable and only we can envision.

The pace at which tech is advancing is very high. Before you get to understand one system another instantly springs up. I see a future for web3 and blockchain in all of this, they'll be a back bone to lots of industries

Web 3.0, a decentralized ecosystem, and cutting-edge technologies are here. It is now up to us how to utilize them.

Web 3 will cover at least half of the population if the 100 million people online can educate the remaining 4 billion or thereabouts. I believe in the block chain and it is coming to reality already

Web 3 is the future and no deny about that. In fact it is really necessary that the web 2 begins to gain massive ground as it ought to and it is just a matter of time

Web 3 is currently one of the milestones which, although it may not change the world, can change a lot of things and give some freedom in this current world by getting rid of the authority of others.