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Nowadays we’re facing major paradigm shifts, faster than we could ever imagine. The question is, should we keep up with them? Is it all groundbreaking or just crafted blabbing?
We all heard about IT. It’s hard to believe that we’re already here, but we are. We’re in WEB 3. But what is it actually and what are the benefits?
WEB 3 is a new era in the internet. It's a place where users have agency over their data, their money and their identity. It uses blockchains, cryptocurrencies, and NFTs to give power back to the users in the form of ownership. It’s a decentralized network, the internet that we've always wanted—where everything is open source and transparent.
In a recent interview with Tyler Cowen, Marc Andreessen, the tech entrepreneur and crypto investor, struggles to explain a single WEB 3 use case. When asked by Tyler Cowen “What is the concrete advantage of WEB 3.0 for podcasts? And why a podcast is better through WEB 3, why can’t we just put it out there? Marc replies pretty sloppily that the “most obvious thing is money. You don't get paid” and then continues saying that podcasters can also “pick their business models” and then struggles to explain what really are the advantages of WEB 3.
As mentioned hitherto, WEB 3 is all about freedom, and an answer to the question above is that it affords podcasting a tamperproof persistence. Irrespective of current year politics, you as a podcaster are free, truly free, to discuss and host whatever content you wish to host. The current status quo is that at any moment, a group of highly motivated individuals can pressure the hosting platform and distribution systems to deplatform your content. So you are not free in any meaningful sense with the current layout of WEB 2. These are just a few examples, but WEB 3 affords creators the ability to divorce themselves from the silo problems of WEB 2, where every single platform is doing everything it can to corner their respective market and trap users within its own ecosystem.
Intrigued by this topic, Dani Tamas, the CEO of WAM, the first Hyper-Casual gaming platform on the blockchain where you can earn crypto and NFTs, has some pretty interesting inputs regarding the benefits of blockchain and the main differences from WEB 2.
He states that there has always been a debate between old and new technologies and uses an anallogy with electrical current, that served the urgent need to light up the streets with candles and gas—an immediate outcome—but:
“in time it proved to be the technological leap mankind needed in order to advance and create. All these blockchain technologies that currently emerge are still in their infancy. If you talk about blockchain today, most people talk about coins that get sold on exchanges. Everybody looks at the bear market or the bull market because that’s where the fun is and people imagine themselves to be billionaires. This means the blockchain itself is already a wealth creation tool, but it’s a layer one creation tool.”
Basically, the blockchain is the infrastructure for the next generation of businesses like WAM. Businesses are starting to explore new models that are better, faster and cheaper, to create wealth for themselves and for other people. And “this is where dApps come in. Because for blockchain to go mainstream, most people need utility for themselves. This utility is simple, you just do a thing that you have always done, in a new and better way [...] WAM is one of the ways people will experience blockchain and create wealth for themselves.”
By now some might be convinced of WEB 3 and blockchain’s advantages, though some might wonder why should they use blockchain. Why blockchain in games when you could do it in WEB 2 games? You add the variety of scams and get demoralized, while losing hope and interest in something that carries a whole lot of untapped potential.
Speaking of the dangers and scams, to Daniel “it has always been like this when you have a predatory behavior and people who expoit the natural desire of men and women to be wealthy, without putting too much effort in it.” So nothing new under the sun. We should ask ourselves “What exactly is this technology best used for?” Given that “it’s one of the few opportunities in 100 years to enable wealth creation and wealth redistribution for a lot of people that have not had access to it.” So the old money generations are facing now “a new class of wealthy people. A whole lot of them. So why is this not a benefit?”
The future is bright for those who have the right tools in their hands, put the right questions and do the work. The potential is just too great to ignore and the WEB 3’s benefits are already showing off.
Flavia Asimionesei is a Marketing Specialist at WAM. WAM is a Web3 game-tech company building the first P2E Hyper-casual competitive crypto-gaming platform using the blockchain. Play on your phone at https://play.wam.app or download the app.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.