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Web 3.0


Elsa
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I was going to post about this today. I wonder what people know about Web 3.0. I better hurry and ask because this afternoon, I saw that Twitter's Jack Dorsey was building Web 5.0?  Who knows>

What I see is a lot of companies getting on board. Mastercard, Apple Pay? These a huge names.

Also clothing companies, etc. getting into, "the metaverse" or web 3 or next generation or whatever it is.

I do think NFTs will become a new standard for everything... authentication of goods but also the new e-ticket and such.

I don't know very much about this so if you so, please pardon my ignorance. I am legit trying to learn.

What do you know about Web 3.0? Is it good? Bad? Are you sure? I am not sure, I just think we're going to end up there, in either case.

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jana
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I only have a pedestrian "understanding". But here goes. This is really a Pluto in Aquarius thing. It takes the trend of democratization of information made possible with the initial internet to the next level.Do you remember how the the possibilities of the internet were discussed in the beginning? Individuals would be able to produce their own content and products and get it directly to the consumer.

The rise of the corporate platforms interupted that. Now the behemoth platforms such as Youtube,Facebook,Spotify and SubStack  dominate the space. They are built with the content of individual creators and centralize/hoard all the data.

3.0 will decentralize that and allow creators to monetize their content better and get a more commesurate reward. 3.0 is based on the blockchain technology and AI trying to build out the whole internet with open protocols in a permissionless space. Sounds very Aquarian to me Smile

I lean towards it being a good thing because it looks like and end run around corporate domination of content and data. 

 

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Elsa
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@jana okay, so I understand this but how will a person FIND the content?  How and who will facilitate search?  
How will someone/something like the current search not rise again?

I have no answers here. I don't even know if these are good questions. I am trying to fathom it.

I also understand the desire is to get rid of banks? Be your own bank?

And there are large platforms being created (like fb or before that myspace or before that, xanga (where I come from) and before that, live journal.

Must you be on one of these platforms in order to have a presence?

I feel pretty stupid here but also like this future is unavoidable. It's imperative to try to understand it.

Who is the new "paypal" for blockchain. Is paypal supposed to fade and dry up? Quite a feat!  Or does paypal just reinvent itself on blockchain? This seems more likely to me and also correlates with the astrology - Uranus in Taurus.

I also want to mention, Pluto in Aquarius. I have no earthly idea why people think a Pluto's transit through a sign is going to make everything wonderful or even "okay". When, in the history of the world, has this ever happened?

It's far more likely to represent the shadow side of technology as far as I can see.

One more thing! Is the stock market going to move onto blockchain?  Another thing I see out there which may *shock* have merit. But I really don't know and I can't emphasize this enough. Smile

Thanks for weighing in!

 

 

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jana
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@elsa 

jana okay, so I understand this but how will a person FIND the content?  How and who will facilitate search?  

The infrastructure to support it is still being built out.I think we are still a few years out for it all to get connected. They have started coming out with crypto enabled browsers with wallets etc. I imagine content would be found through vehicles like the NFT marketplaces like OpenSea. You will have to pay a fee to enter the marketplace, I'm sure.

I also understand the desire is to get rid of banks? Be your own bank?

Not sure about this but if they do, they will upend an economy based on lending. So that's interesting. What is a bank really? A group of people pooling  money to lend at a rate of interest. They can break up banks, I guess. Make em smaller. But how can they get rid of them? 

And there are large platforms being created (like fb or before that myspace or before that, xanga (where I come from) and before that, live journal. Must you be on one of these platforms in order to have a presence?

My understanding is that there will still be browsers that will take you to some kind of blockchain marketplace. The difference being that your content will be transacted peer-to-peer. Currently content is transacted through intermediaries such as Spotify, Medium, Substack etc. and they take a substantial cut.

I feel pretty stupid here but also like this future is unavoidable. It's imperative to try to understand it.

Same here. But I’m trying to take small bites and digest slowly Smile

Who is the new "paypal" for blockchain. Is paypal supposed to fade and dry up? Quite a feat!  Or does paypal just reinvent itself on blockchain? This seems more likely to me and also correlates with the astrology - Uranus in Taurus.

Paypal is already in the space. You can buy, sell and hold crpto on Paypal and they are exploring issuing their own stablecoin. So yah, they are not going to miss the show.

I also want to mention, Pluto in Aquarius. I have no earthly idea why people think a Pluto's transit through a sign is going to make everything wonderful or even "okay". When, in the history of the world, has this ever happened?

Agreed. People are always inoculating themselves against the thought that the pain that is coming can be relieved with an eventual happily ever after. Web 3.0 will continue to do away with key word searches as Siri and Alexa are using  AI and machine learning to “read” language. But 3.0 will also allow answers to a complex question without the keyword based processing still in use. I don’t think they will be able to do this without even more extensive tracking and surveillance of you to learn your patterns and that is scary. There is also talk of 3d graphics being part of this, a la the Metaverse and I have a deep aversion to that.

One more thing! Is the stock market going to move onto blockchain?  Another thing I see out there which may *shock* have merit. But I really don't know and I can't emphasize this enough.

In my opinion, yes.  The current generation shows a preference for investing small amounts with no fee attached a la Robinhood. Decentralized digital stock exchange will allow for international 24/7 trading with low entrance fees, unlike the big brokerage houses. 

This is all happening gradually, though. We will know a lot more once there is a clear understanding of how crypto is going to be regulated. Then the big banks and such will know it’s ok to add BitCoin to their holdings. When that happens watch out the whole space is going to light up again.  Canada is way ahead of us on this regulation bit. 

Well that’s all I know and suspect. Not much really. It’s a steep learning curve J

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Elsa
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Posted by: @jana

The infrastructure to support it is still being built out.I think we are still a few years out for it all to get connected. They have started coming out with crypto enabled browsers with wallets etc. I imagine content would be found through vehicles like the NFT marketplaces like OpenSea. You will have to pay a fee to enter the marketplace, I'm sure.

@jana thanks! I have to mull this.  The bit above is the only thing I can address in the moment.

I know there is a Layer2 marketplace now being built. As I understand it, you have to have a large number of their tokens (Loopring) in order the open... like your own mall?  Or maybe ebay on blockchain?

If you have a "mall", you can allow whoever, to sell in your space.  You can also sell your stuff, independently. It's much better than OpenSea because of the MUCH lower fees. 

So that's one thing.  But what if you're a little independent store?  

What I am trying to discern, is who will rule SEARCH? As everyone knows, one search engine has profound control over what you can see and not see on the internet.  

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jana
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All I know about search is that being anonymous, permissionless and on a distributed network of computers. It disrupts the flow of data attached to you. This disruption means they can't capture it to feed into the algorithms. Do you think that will help you?

 

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Elsa
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@jana well, yeah. I am banned / shadow-banned all over the place... like roddit blocked me from being linked, anywhere, ten years ago! More than ten years ago, even.

I am a repressed entity and have been for a many years but at this time, everyone is joining me or will be shortly.

I'm like one of the random kids whose mom's put them on the internet with their regular self. Those people are gone now - can't find them to save your life. They've been replaced, sort of like body snatchers, lol.

The approved astrologer is not going to be anyone like me, that's for sure.  I'm like an old car with style as compared to the new cars which all look alike... and track you. 😉

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jana
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I hope this will be the answer. It would be the astro world's great loss if you are forced out like this. 

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Elsa
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@jana its pretty likely. My husband was going to retire. We're talking now about his moving to second shift, as well as being a caregiver to his mother. You just can't have a business that's been disappeared. As always, it's up to God.  Its a minor miracle I've made it this long!

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jana
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(((Elsa))) I'm sorry about that. I know your husband has had his own health challenges of late on top of it all. 

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Elsa
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@jana thank you!

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