How soon is Web 3.0 and will it change our lives?
https://www.youtube.com/watch?v=aPVmd7SyKfQ
The above video is a brief intro to Web 3.0 which is the next revolution of the Internet by mass adoption of blockchain technology. The keyword of Web 3.0 are Decentralization in the form of DAO (Decentralized Autonomous Organization - https://ethereum.org/en/dao/), Defi (Decentralized Finance - https://ethereum.org/en/defi/), and finally DApp (Decentralized Application) which contribute to flourishing ecosystem of hundred of thousand of tokens now transacted in the Binance. I think this time now is the most exciting moment for the evolution of human history where we are closer to the picture of Terminator 3.0 (if we're all picture ourselves into the Armageddon type of thing).
Let's look at the positive side of this breakthrough technology initiated by the name of unidentified profile called Satoshi Nakamoto.
As we're realized the Internet now predominantly by only a few enterprise that control and shape the next Internet which is Google, Microsoft, Facebook, Amazon, etc. However, in the spirit of open source a few smartest human on earth has started this blockchain revolution for the social justice, fairness and equal opportunity for the economy. It will take control away from centralized authorities and give control back the individual - everyone of us. I think this is one of scariest thing why Chinese government to forbid blockchain in the name of carbon neutral as bitcoin miners consume a lot of electric resource. However, there are now already many of technology that is more environmental friendly like Ethereum and other variations consume less power, cheaper and can support tens of thousands of transaction per second like Polygon (MATIC), Solana (SOL), Cardano (ADA), Polkadot(DOT), etc.
The Web 3.0 has created new opportunity for the smart people to start their own start up using open source technology and empower themselves financially using cryptocurrency by issuing their token which in the end will create the token economy - both the end user and producer will win and disregard the intermediary. As we recall those big world enterprise are actually an intermediary and we nurture them using our attention and time which capitalized by them in the form of an ads. Along with the advance in machine learning and AI technology this revolution will change the world we live in. Perhaps Mark Zuckerberg realize this fast movement in Web 3.0 he then declare his company as a Meta in the hope getting support from community to keep using his platform. However, it is not clear if he is going to fully support blockchain in his metaverse dream - https://coinmarketcap.com/alexandria/article/facebook-metaverse-will-it-support-blockchain.
Despite all good things about Web 3.0 I think we should be careful of not fully letting go the algorithm take fully control in the form of smart contract of DAO. The idea of autonomously control the network in the form of DAO with an implementation of machine learning and AI tech bypassing human intervention is good thing but can bring ad havoc to humanity. An interesting video about the development of AI DAO - https://www.youtube.com/watch?v=CKl4uME3EyU - also this article https://towardsdatascience.com/ai-decentralized-autonomous-organizations-and-future-of-retail-5e0f096a5bc9.
#blockchaintechnology #blockchainrevolution #web30 #decentralizedfinance