Parsing the paradigm shift in the Web 3 economy

1646033149369047“Man is by nature a social animal.”

– Aristotle

As one of the most important Western philosophers of all time, Aristotle once said – “Man is by nature a social animal”.

Since the birth of society, human beings have tended to live and grow together in self-communities, and by their very nature, we always want the best things and qualities for our family, friends, and relatives.

Humans used to live in small villages, strategic locations where locals could trade value and information with others, but over time these villages evolved into urbanized towns with rapidly growing populations.

At the same time, these places are also the front doors for all those who live nearby and are willing to trade value and information with their fellow citizens.

 

1646033149336793▼Sky and Virgin join forces to create a targeted advertising platform: Internet partition gold rush is a matter of creating a Web2.0 platform…

The world is evolving at a time, and societies are beginning to converge on a global scale, which has allowed many large companies to jump out of their home spheres and conduct global trade around the world. Then, ordinary people were left out at the time, until the internet came along in all its glory.

As the World Wide Web matured and advanced so that ordinary people could participate, the advent of Web 1.0 and its evolutionary Web 2.0 also paved the way for the Crypto realm.

From 1992 to 2004, we witnessed the Web 1.0 era, when most online web pages were static, or as the online community at the time called them – “read-only” pages.

Then social media came along, user habits changed, and web pages started collecting user information and then serving them information based on their tastes and interests. This is the beginning of the Web 2.0 era from 2004 to the present.

With Web 2.0, people can trade information and value, but they do so through third parties, although it remains a big driver of globalization. The problem with Web 2.0 is the abuse of user information and privacy, resulting in high intermediary costs.

All of this brings us to Web 3.0, which is mainly about reversing all these unnecessary problems.

01. Paradigm change

Web 3.0 enables a future where distributed users and machines are able to interact with data, value and other counterparties through the underlying layers of a peer-to-peer network without the need for third parties. The result: a composable human-centric and privacy-preserving computational fabric for the next wave of networking.

In simple terms, this essentially means that the online paradigm has changed, the main goal of Web 3.0 is to make the user the owner, not the product, this is achieved by using decentralization to avoid third parties and using encryption to protect data of.

 

1646033149371912▼Reddit places, maps created using crypto data

By using blockchain and AI technologies as tools, Web 3.0 allows you to process value and information as we do in the physical world (this is an analogy).

Let’s take the example of buying candy at the store. When you pay for chocolate, two things happen; you pay the cashier directly, without a middleman and without knowing their identity, and vice versa.

The so-called “paradigm has changed, values ​​have changed.”

One of the key paradigm shifts from Web 2.0 to Web 3.0 is the thinking and intentions of those driving this evolution and building Web 3.0.

In this new era, some websites and decentralized applications are built as open source projects, and this change brings the following benefits: A good cause creates a good initiative.

Currently, there are a lot of Web3 projects that are building on good principles. For example, decentralized finance applications are often created by developers to help people use technology to efficiently manage their assets and improve their financial well-being.

 

1646033149369453▼The current chaos of the Facebook platform

People seem to believe in the equation: freedom + autonomy = more competitiveness.

Since the Web 3.0 project is open source, many developers eager to improve their code have learned that being fast isn’t the only skill needed.

Creativity, simplicity, and good use cases are just some of the skills that can help a developer’s code stand out and perform better.

So, the privacy and data issues seen in Web 2.0 are the driving forces behind this upgrade and/or evolution. Web 3.0 is the new online paradigm, driven by decentralization, allowing online communities to change their habits.

02. Unleash the simulated economy

Fundamentally, imitation is about how human behavior is transmitted. Mimetics has the same root as mimesis: meme. Imitation is a mode of behavior that spreads.

Intuitively, one wants to be able to manage simulants. Currently, the imitation aspect is very loosely combined, but there is no complete imitation management system. Yet imitation is so important that the vast wilderness of the internet can be lined up with imitation.

 

1646033149375233▼The interpersonal social network that supports the Ethereum culture is the mycelial network under all web3.0 tweets

For example, web outreach of any kind is about seeding copycat behavior; analytics and much of data science is focused on teasing out trends that could become viral copycat behavior; all content, videos (YouTube, Medium, WordPress) and even decentralized blogs (Stream) hosting is all about providing a platform to distribute content. etc.

Note that there is currently no cohesive management platform for generating groups or choosing what should be viral behavior. Facebook, Google, and Linkedin have all attempted to formalize groups and group dynamics. But so far, groups as a type have been difficult to capture, mainly because resources (critical to group formation) are vague and difficult to define.

Essentially, the Internet confuses the ecology of all these groups by introducing one additional resource: attention. With attention and an online presence, groups that interact for no reason now end up having to deal with each other.

After all, since groups are formed around resources, having a shared resource like online attention means that groups end up either cooperating or competing for the same resources.

 

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https://hx24.huoxing24.cn/image/crawler/2022/02/28/1646033149373571.jpg▼ As we enter Web 3.0, people are left behind every day

 

Like many, we can see that the introduction of the Internet provided a breakthrough in human history, but the Internet was not the first imitative disruption.

Partitioning the Internet is a conservative response because it maintains the status quo. Closing boundaries through fear or ignorance and doubling down only on comfortable/known patterns is one way to ensure hierarchy and therefore survival of the entity.

Of course, our situation is not as bad as it seems. In effect, existing ad demand has created and supported today’s radical political divisions (mostly by absorbing existing trends).

Removing the current centralized platform will undermine the infrastructure that sustains today’s sector unless these groups can develop the flow of resources (to harvest and focus) independently of the current centralized platform.

But the reality is that without built-in capture of resources and resource flows, only centralized entities with the resources to accumulate big data have the opportunity to unlock the full potential of human mimicry to share their true thoughts, feelings, and experiences.

For example, Amazon’s plan is to use its web services to enter new industries. By finding more cost-effective processes within the industry and then leveraging existing data, Amazon can acquire, capture and retain customers better than existing industry players. It remains to be seen how this will play out when Amazon is fully able to leverage data from different industries.

 

1646033149556998▼The world in Web3.0

Whether we like centralized platforms or not, Web 2.0 is an analog victory. We see the consequences of this victory every day. Web 2.0 unleashes the power of imitation in the global community. However, due to the structural limitations of these platforms, only a small fraction of analog expressions can be presented.

For this reason, centralization and its rigid imitation pools tend to divide the crowd to preserve advertising and marketing materials. The simplest outcome of mimicking splits in a population would be a dichotomy, where the same event (if not the same article) is deployed in a completely different way.

Going forward, a more radical Web 3.0 will provide greater resolution on how mimicry spreads by reducing the cost of unlocking mimicry. With Web 3.0, we don’t need a centralized platform.

Eliminating the gargantuan entities reliant on access parody charges would unleash a variety of perspectives and trends that already exist today, but were ignored/repressed in favor of more lucrative trends.

 

1646033149562520▼The process of human beings will never stop, and Web3 is coming quietly

The cost of maintaining centralization required for Web 2.0 emulation requires payment. Regular users can participate for free, but only because we collectively form a pool of imitations that Web 2.0 gatekeepers use to attract advertisers.

In a Web 3.0 infrastructure, the cost of trying to start mime is significantly reduced, because the mimetic pool will be maintained at the protocol level, eliminating the need for expensive centralized management through big data servers.

03. Creator Economy

Many Web 3.0 skeptics believe that decentralization will not change anything.

For example, Brian Armstrong, CEO of the US company coinbase, believes that “Web 3.0 is nothing new.” He said we are re-decentralizing the web, which is what the internet was originally like.

“We need to examine the power of Big Tech,” he said, yet many countries are excluded from the creator economy boom. An author in Africa named Chinedu is like that, they can’t easily monetize with PayPal and Stripe.

Luck of birthplace shouldn’t be a factor in whether you can join the creator economy and earn a living, nor should creativity be limited by country of origin, but Web 2.0 makes us think it is.

 

1646033149539451▼ Creator economy will slowly migrate to Web 3.0

“Acquisition rate” explains exploitation of creators. “Social media platforms like Twitter, Instagram and TikTok have 100% viewership – they don’t share any revenue with creators at all! It’s good for them, but bad for users.” Chris Dixon, US famous Internet entrepreneurs and angel investors.

Twitter CEO Jack Dorsey saw Web 3.0 before Twitter never shared revenue with its creators. Now it “backflips”. Jack Dorsey has publicly announced that he will decentralize Twitter, turning it into a Web 3.0 product, such as the just-launched Twitter Super Follow feature, which allows creators to earn money from content.

Then there’s the new Revue Newsletter feature, which allows creators to charge for paid newsletters. Twitter is proving that the move to Web 3.0 will happen 100 percent slowly.

However, Facebook, Instagram and TikTok have not yet understood the shift, or they may be watching. They make content creators work like slaves to build followers and get views controlled by an algorithm that decides tomorrow it doesn’t like the color of your hoodie and they use that content to engage consumers and show them advertise.

 

1646033149647617▼ Deploy your static web application to the blockchain and make it a Web3.0 application in 5 minutes

When content platforms are new, we just enjoy using them without paying a fee. Now we’re used to this new behavior. But creators want to share in the revenue the platform earns from our content. Still, that won’t change unless Zuckerberg is forced to sell the ad and share the funds, rather than buy another house.

If creators stop offering their content for free, platforms like TikTok will go out of business.

04. Ownership economy

What’s different about Web3.0? ownership.

Creators want to own the platforms they create and have voting rights. When platforms make money, they make money too.

When content moderation policies need to be developed, it is done through the voting power of blockchain consensus and thousands of computers around the world that enforce trust in the process.

Then there are the features of the platform. Imagine ever opening your favorite content app on a nice Saturday afternoon to find that everything has changed and it looks like it was designed by a freshman UI/UX kid? Feel like you don’t see the shock of design coming? Remember, it’s not the child’s fault. They are a far cry from what the creators do.

 

1646033149689488▼POWER MUSIX CLUB is a collection of 10k unique MUSIX lovers from WEB3.0 to empower artists

Web3.0 is different. Functionality is determined by the user in a democratic process. If a group of users don’t like it, then they create a fork. A fork is where two versions of the same platform are run but with different features.

When ownership is fixed and transparent, incentives change. Ownership then drives user democracy, rather than the authoritarian philosophy of Web 2.0 “this is the latest update, you dirty animal”.

In Web 3.0, users don’t have to think about who owns their data or how to sell it. It will also provide programmable interfaces and capabilities for data, as well as opportunities to directly participate in data governance and the economy. This new form of networked governance will help create the capacity for large-scale global collaboration and foster more direct democracy.

The goal of Web 3.0 is to remove the middleman and make applications more efficient and secure than their predecessors. Reputation also becomes decentralized through user-controlled identities, which allow users to take back ownership of their reputation from central authorities such as credit reporting agencies and social media companies.

Web 3.0 will bring much-needed improvements to the internet environment and help users regain ownership of their data and identities. Web 3.0 will also allow users to sell services completely free of charge, thereby enhancing and driving new economics of ownership.

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