My 20 Year Vision for Web3

If you are a VC fund manager or investor and you are wondering what’s up with blockchain, crypto and web3, here’s my take below:

TLDR:

### Nothing can stop an idea whose time has come

### Web3 is nothing else than a more efficient way of financial services, and in the long run, economy loves efficiencies!

With these I’m giving web3 the brightest future!?

Now, let me break it all down!

Not many people know that I come from the engineering background.

Although I love management and leadership, the developer blood runs in my veins.

I was helping?friends with?BTC mining as early as 2013 and had previously built a virtual assets exchange back in 2011.

Virtual assets were almost pointless back then of course but the popularity of that exchange was through the roof.

I don’t remember the name. It was build for some Asian group of traders who took it and kept operating on their own.

I got into blockchain seriously and for full time in 2017.?

Right before that I was busy with?artificial intelligence?and?RPA?(NLU/NLP, DMN?- decision making notations,?BPMN?- business process model notation). Chatbots were picking up back then, with IBM, Microsoft and others deploying their platforms for speech to text, text to speech,?conversational, sentiment analysis and similar tasks. Back then we have helped a few companies who eventually got funded and the rest is history, but by the time I was making my research on Ethereum it was clear to me that:

Here's how I see web3 (and the business majorly, too) in 20 years from now:

—> AI and automation will make the majority of the?businesses autonomous?and little dependent on humans

This is more apparent (and should be scary) now; it sounded too remote and not obvious back then.

Primitive neural networks will become nothing unusual in a few years from now, and we the humans will also learn to train them to make decisions instead of us, at least 90% of them happening on the daily basis.

Decision models can also be more formalized with decision model notation! It’s surprising how few businesses are using these techniques still, alongside with BPMN - which is a powerful standard for describing, streamlining and automating business processes.

—> For the autonomous businesses to exist, there needs to be an?unstoppable execution environment. Once I dove into Ethereum Virtual Machine and Solidity (which is in fact the subset of C++ but borrows all the best practices of object-oriented programming from there) - I got to realize this was it!?Smart Contracts is the perfect environment for future?autonomous businesses!?

—> DeFi as we know it now is only the tip of the iceberg. Number one reason banks hate crypto is because they are scared of it! Crypto will make banks obsolete! There are governments that understand that have their finger on the trigger and will be the first to not only adopt it but will strengthen their influence across the entire continents! take a typical lending/borrowing protocol, merge it with few other DeFi projects, and such combo can substitute an average retail bank, but have almost no operational expenses!

—> The talks arise on the real world asset backed tokens. Assuming businesses will be run in an autonomous way -?there has to be the digital?representation of the real world assets as an integral part of the business! Chances are high that sooner or later, the contract for materials supplies will be substituted with the smart contract, and a non-fungible (NFT) or fungible token will represent a particular supply. If we extrapolate, various derivative products of RWA are also possible on blockchain which will enable quite sophisticated strategies for business risk mitigation that are not available to our mentality as of now.

—> This however is a long term play - I don't think it's coming sooner than in?20 years.

—> Speculative project tokens have their right for existence since they exactly allow speculation! Traders, believers, and everyone else willing to take a risk will love the asset that can go?up and down by 10-100x. It of course doesn't seem scalable where any business can have their token as there?won't be enough liquidity?for that, and that's probably another interesting problem deserving an internally incubated project.

—> Does the crypto bull have to come back soon though? The markets are noticeably driven by liquidity and the Bitcoin halving cycles. Sadly this creates _waaaaay too much speculation_. I would genuinely love to see the real innovation and the merge of traditional finance with DeFi rather than seeing hundreds of new useless NFT and meme projects out there!

—> Seeing a lot of Dealflow through Applicature and Mempool Ventures, we can tell DeFi Summer of 2020-2021 gave birth to dozens of promising concepts and hundreds of great projects. Between now, the season of lull, and the next excitement in the market, is a perfect time for loading up our guns and accumulating as much value as we can to support the breakthrough of the ideas whose time has almost come!