This is a presentation I made on the 8th of July 2022 at the first-ever eDigital Connect Summit. The topic was 'Unpacking Web3: Going Beyond The Hype & What It Means For All Things Digital In The Future In Kenya, East Africa & Beyond' and we basically broke down the same for the audience so that they can take practical next steps towards realizing the potential of Web3.

1. Unpacking Web3
GoingBeyondTheHype&
WhatItMeansForAllThings
DigitalInTheFuture
MosesKemibaro
Founder&CEO
DotsavvyLimited

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Theilliterateofthe
21stcenturywillnot
bethosewhocannot
readandwrite,but
thosewhocannot
learn,unlearn,and
relearn-AlvinToffler

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5. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
Web1&TheEarlyWeb
Web1referstothefirststageoftheWorld
WideWebevolution.
Earlier,therewereonlyafewcontent
creatorsinWeb1withahugemajorityof
userswhoareconsumersofcontent.
Personalwebpageswerecommon,
consistingmainlyofstaticpageshostedon
ISP-runwebservers,orfreewebhosting
services.
TheeraofWeb1 wasroughlyfrom1991to
2004.
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6. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
TheDot-comBubble
Thedot-combubble,alsoknownasthedot-
comboomandtheInternetbubble,wasa
stockmarketbubblecausedbyexcessive
speculationofInternet-relatedcompaniesin
thelate1990s.
Between1995anditspeakinMarch2000,the
NasdaqCompositestockmarketindexrose
400%,onlytofall78%fromitspeakby
October2002,givingupallitsgainsduring
thebubble.
Duringthedot-comcrash,manyonline
shoppingcompanies,suchasPets.com,
Webvan,andBoo.comwentoutofbusiness
BUTthelikesofAmazonandGooglethrived!
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7. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
Web2&SocialMedia
Web2referstoworldwidewebsites
whichhighlightuser-generated
content,usability,andinteroperability
forendusers.
Web2isalsocalledtheparticipative
socialweborsocialmedia.
Interactionandcollaborationwitheach
otherareallowedbyWeb2inasocial
mediadialogueasthecreatorofuser-
generatedcontentinavirtual
community.
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8. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
TheRiseofBigTechinWeb2
BigTech,alsoknownastheTechGiants,BigFour,orBigFive,isa
namegiventothepresentlyfourorfivelargest,mostdominant,and
mostprestigiouscompaniesintheinformationtechnologyindustryof
theUnitedStates.
TheBigFourconsistofAlphabet(Google),Amazon,Apple,andMeta
(Facebook)—withMicrosoftcompletingtheBigFive.
Thetechgiantsarethedominantplayersintheirrespectiveareasof
technology,namely:e-commerce,onlineadvertising,consumer
electronics,cloudcomputing,computersoftware,mediastreaming,
artificialintelligence,smarthome,self-drivingcars,andsocial
networking.
Theyhavebeenamongthemostvaluablepubliccompaniesglobally,
eachhavinghadamaximummarketcapitalizationrangingfrom
around$1trilliontoabove$3trillion.Theyareadditionallyconsidered
tobeamongthemostprestigiousandselectiveemployersintheworld,
especiallyGoogle.
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9. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
Web3orTheMetaverse
Web3(alsoknownasWeb3.0)isanideaforanew
iterationoftheWorldWideWebbasedonthe
blockchain,whichincorporatesconceptsincluding
decentralizationandtoken-basedeconomics.
Sometechnologistsandjournalistshavecontrastedit
withWeb2,whereintheysaydataandcontentare
centralizedinasmallgroupofcompaniessometimes
referredtoas"BigTech”.
Web3istheideaofdecentralizationandoften
incorporatesblockchaintechnologies,suchas
cryptocurrenciesandnon-fungibletokens(NFTs).
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FacebookBecomesMeta!
Facebook,nowknownasMeta,has
adoptedthenewmoniker,basedonthe
sci-fitermmetaverse,todescribeits
visionforworkingandplayinginavirtual
world.
Themetaverseisthenextevolutionof
socialconnection.Meta’svisionisto
helpbringthemetaversetolife,letting
yousocialize,learn,collaborateand
playinwaysthatgobeyondwhatwe
canimagine.
MetaKeynote:
https://www.youtube.com/watch?v=KIxP
RwgXFQg

11. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
WhatIsTheBlockchain?
Blockchainisasystemofrecording
informationinawaythatmakesitdifficult
orimpossibletochange,hack,orcheatthe
system.
Ablockchainisessentiallyadigitalledgerof
transactionsthatisduplicatedand
distributedacrosstheentirenetworkof
computersystemsontheblockchain.
Thegoalofblockchainistoallowdigital
informationtoberecordedand
distributed,butnotedited.Inthisway,a
blockchainisthefoundationforimmutable
ledgers,orrecordsoftransactionsthatcannot
bealtered,deleted,ordestroyed.
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12. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
HowDoesTheBlockchainWork?
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13. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
SmartContracts
Smartcontractsaresimply
programsstoredonablockchain
thatrunwhenpredetermined
conditionsaremet.
Theytypicallyareusedtoautomate
theexecutionofanagreementso
thatallparticipantscanbe
immediatelycertainoftheoutcome,
withoutanyintermediary’s
involvementortimeloss.
Theycanalsoautomateaworkflow,
triggeringthenextactionwhen
conditionsaremet..
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14. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
WhatIsCrypto?
Cryptocurrency,sometimescalledcrypto-
currencyorcrypto,isanyformofcurrencythat
existsdigitallyorvirtuallyanduses
cryptographytosecuretransactions.
CryptocurrencieslikeBitcoinorEthereumdon't
haveacentralissuingorregulatingauthority,
insteadusingadecentralizedsystemtorecord
transactionsandissuenewunits.
Acryptocurrencyisadigitalpaymentsystemthat
doesn'trelyonbankstoverifytransactions.It’sa
peer-to-peersystemthatcanenableanyone
anywheretosendandreceivepayments.
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WhatIsACryptoExchange?
Acryptoexchangeisaplatformonwhichyou
canbuyandsellcryptocurrency.Youcanuse
exchangestotradeonecryptoforanother—
convertingBitcointoLitecoin,forexample—
ortobuycryptousingregularcurrency,like
theU.S.Dollar.
Exchangesreflectcurrentmarketpricesofthe
cryptocurrenciestheyoffer.Youcanalsoconvert
cryptocurrenciesbackintotheU.S.Dollaror
anothercurrencyonanexchange,toleaveas
cashwithinyouraccount(ifyouwanttotrade
backintocryptolater)orwithdrawtoyour
regularbankaccount.
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Non-CustodialWallets
Anon-custodialwalletmeansyouhavesole
controlofyourprivatekeys,whichinturn
controlyourcryptocurrencyandprovesthe
fundsareyours.
Acustodialwalletmeansanotherpartycontrols
yourprivatekeys.Mostcustodialwalletsthese
daysareweb-basedexchangewallets.
MetaMaskincludesaself-custodial(also
commonlyreferredtoasnon-custodial)
cryptocurrencyandtokenwallet.Itgivesyou
completecontrolofyouraccesskeysand
thereforeyourassets.
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DAO
ADecentralizedAutonomous
Organization(DAO)isacommunity-led
entitywithnocentralauthority.Itisfully
autonomousandtransparent.
Smartcontractslaythefoundational
rules,executetheagreedupondecisions,
andatanypoint,proposals,voting,and
eventheverycodeitselfcanbepublicly
audited.
ADAOisgovernedentirelybyits
individualmemberswhocollectively
makecriticaldecisionsaboutthefuture
oftheproject.
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UniswapDAO

25. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
Non-FungibleTokens(NFTs)
Anon-fungibletoken(NFT)isa
non-interchangeableunitof
datastoredonablockchain,a
formofdigitalledger.
TypesofNFTdataunitsmaybe
associatedwithdigitalfilessuch
asphotos,videos,andaudio.
Becauseeachtokenisuniquely
identifiable,NFTsdifferfrom
blockchaincryptocurrencies,
suchasBitcoin.
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Non-FungibleTokens(NFTs)
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35. eDigital Connect Summit 2022 | Unpacking Web3 – Moses Kemibaro
Non-FungibleTokens(NFTs)
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NFTsAreMoreThanDigitalImages
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Oculus
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Oculus
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Oculus
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Oculus
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Oculus
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Itisnotthestrongest
ofthespeciesthat
survives,northemost
intelligent;itisthe
onemostadaptable
tochange
-CharlesDarwin

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Q+A

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