The idea of Web 3.0 is taking hold. However, few are really sure what it means exactly. Naturally, none of us can provide, with any certainty, a clear-cut definition. The reason is Web 3.0 is being developed as these words are being written. Hence, it is going to evolve, morph, and grow over the next decade.
That said, we do have some ideas of how the foundation is going to operate. We see the dynamic already forming in terms of markets, participants, and business structures. An entirely new word is opening up, one that will not be stopped.
For this reason, it is best to understand exactly what is taking place.
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Horizontal Power Structure
This is nothing new. Cooperatives existed for decades. The challenge was the success throughout history was rather limited. In short, cooperatives did not scale well. We also saw a situation where the individual incentive, at some point, overtook the community. This meant that someone with nefarious intentions would exploit the cooperative.
Technology is changing that. It is allowing for the scaling required. Whereas successful cooperatives were mostly local and small, we are now able to have them global in nature. Bitcoin is a prime example of that. It is a cooperative that runs autonomously with millions of participants worldwide. Nefarious actors are stopped simply by the coding that prevents them from "rigging" the system.
We see a direct contrast to what was previously employed. Most of the structures we see are vertical in nature. Throughout the years, this was a more effective way to go. It also allowed a few to amass an enormous amount of power. This is negated, at least to some degree, with horizontal structures. Hence, we can look at this as a change in power.
It is an important shift. As we will see, the entire market appeal is altered. Thus, having an alteration in power only enhances the entire premise of what is taking place.
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Multiple Sides
In Web 2.0, the users are the product. Anyone who is on the traditional platforms, especially social media, is providing the company with what is being sold. Each click generates data which is sold to advertisers and other firms.
This is not the case with Web 3.0. The userbase is not the product. In fact, this is only the tip of the iceberg.
We also see the line blurred between content creator and consumer. Some are using the termProsumer. Those who produce content also consume it. That is nothing new. What is novel is the fact that content consumers, simply through the act of having a comment monetized, are also producers. It all ties in together.
This places people on multiple sides at the same time. There is a vested interest in success, especially as one uses the platform more. People who spend hours in Web 3.0 will find their loyalty rising much in the same way as Web 2.0. However, the difference between product and prosumer is clear.
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A Twist On Investing
Here is where Hive is the epitome of what is taking place.
Access is something crucial. We see this with traditional social media each time accounts are banned. Being able to access the platform is vital.
From that standpoint, having an active account is the barometer. This is not the case with Web 3.0. To start, accounts cannot be cancelled on those platforms tied to a blockchain. The access is through the key system, something that cannot be altered since no centralized entity controls it.
However, this goes even deeper.
In the traditional realm. users are the ones who utilize the platforms, separate from investors. Obviously, there can be some cross-pollination between the two. Twitter users can buy stock while the stockholders often Tweet. However, they are distinctly separate.
This is not the case with Web 3.0.
Here we see users often have to invest to gain access to some basic features. Without doing this, one is not able to participate. Some form of token ownership and staking is usually required to a degree. This is a radical shift from the established system.
What this does is it alters the investment market. We can see choices are made a bit differently. Buying (or selling) a stock is done solely based upon an investment decision.
With Web 3.0, we see the decision resemble a consumer decision.
The performance in the investment is not the only criteria. Often people buy in simply to gain access.
Therefore, people are consumers and producers, as well as simultaneously being investors.
It is built into the system.
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Vested Interest
Certainly there can be people who invest simply because they believe in the future price moves. However, if we expand the basic premise of what is taking place, we can see how this might be the minority in the future.
The emotional level between being simply a user versus a prosumer as well as an investor is enormous. Those who understand this can feel the shift taking place.
Companies work hard to build loyalty. Some claim that the social media companies even go so far as to employ psychological techniques to keep people logged in. Whatever the tactics utilized, the goal is the same: to have people returning.
The reason being is the financial benefit is derived from the actions of the user base. However, as stated, they are not the ones who profit financially unless they are also an investor.
Web 3.0 in general, and Hive in particular, changes all this. It is a major psychological shift. One simply does not use Hive. If he or she posts anything to the blockchain, that person is a producer. Of course, to do this requires some form of Hive Power. Thus, that individual is going to end up with an investment interest since rewards will be acquired.
Those who benefit the most are going to be those who invest the greatest amount. This is not only in the form of money. Individuals who spend more time using the different platforms will find they are the ones who receive an increasing amount of the financial rewards. Here is where those blurred lines produces a payoff.
Understanding the basics of Web 3.0 and how it is structured differently will enable people to immediately alter their outlook.
This is something that Hive provides.
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