Web3 is a proposed next phase of the internet that utilizes blockchain technology to decentralize the web. It aims to give users ownership over their data and digital assets through the use of cryptocurrencies, NFTs, DAOs, and decentralized applications. While advocates argue Web3 will democratize the web and create new economies, others are skeptical due to technical challenges, environmental concerns, and the proliferation of speculation and privacy issues. As Web3 continues to develop, companies are exploring opportunities while also weighing the risks of this emerging landscape.
Web 3.0 continues to create a more democratic, censorship-free, and more transparent internet network by producing solutions to the problems of Web 2.0.
In this direction, metaverse technology, which is a future repetition of the internet consisting of 3-dimensional, permanent virtual spaces connected to the virtual universe, continues to reveal its difference.
At this point, the new technologies of the future continue to develop.
Demonstrating how to create an end-to-end Web-based application that uses blockchain for user authentication, read, and write access to the data stored on the blockchain
The Metaverse is a collection of virtual environments that supports 3D elements and interactions with digital objects through AR and VR technologies. Metaverse has the option to fully change the way we perceive reality and make out digital experience more real-like.
Games are a huge part of the Metaverse ecosystem. Through the use of VR and AR technologies in the Metaverse, the gaming experience can enhance drastically for the users. Here, we will analyze the 5 Best Metaverse Games – Sandbox, Axie Infinity, Illuvium, Decentraland, and Star Atlas. All of these games offer various types of features for their players.
Here, at 101 Blockchains, we offer various high-quality courses that offer in-depth analysis of blockchain technology. These courses will help you understand the core principles of this technology and how it will play a huge part in developing the Metaverse.
The following courses will help you ->
Metaverse Fundamentals
https://academy.101blockchains.com/courses/metaverse-fundamentals
NFT Fundamentals Course
https://academy.101blockchains.com/courses/nft-fundamentals
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Tokenization Fundamentals
https://academy.101blockchains.com/courses/tokenization-fundamentals
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/best-metaverse-games/
Contents
I. Metaverse Ecosystem
-Present and Future of Metaverse Infographics
-Why Metaverse Now?
II. Digital Twin Metaverse
-Digital Twin Types
-Digital Twin Models
-Digital Twin Patent Landscape
-Digital Twin Metaverse Use Case: AI Innovation Platform
III. Metaverse Enterprise & ESG Applications
-Metaverse Enterprise
-ESG Strategic Planning and Program Management
-Scenario Planning for Metaverse Enterprise
-TCFD Scenario Analysis
IV. ESG Digital Transformation
-ESG Sustainability Imperative
-ESG Investing and Management Consideration Core Factors
-ESG + Digital Integrated Transformation (ESGDX) Imperative
-How ESGDX Can Create New Revenue Streams?
-ESGDX for ESG Sustainability Management
-ESG Sustainability Management/Assessment Issues & Challenges & Solutions
-ESG DX Forum
V. Sustainable Smart City Development
-Metaverse for Sustainable Smart City
-Smart City Components
-Smart City Design and Development
-Smart City Management
-Smart City Financing and Business Development
*INTEGRITAS DAN IDENTITAS: TANTANGAN DALAM ERA METAVERSE*
[DIES NATALIS 34 TAHUN BHUMIKSARA ]
Perkembangan metaverse sebagai konvergensi realitas fisik yang disempurnakan secara virtual, menjadikan manusia modern dihadapkan dengan titik perubahan baru terutama paradigma kehidupan.
Perkembangan dan peluang ekonomi serta peningkatan produktifitas dalam bekerja menjadi dampak positif yang akan dirasakan manusia kedepan. Namun, perkembangan metaverse tak lepas dari dampak negatif yang menyertai seperti isu _cyber security_, _digital privacy_, degradasi interaksi sosial, bahkan krisis identitas sebagai manusia sejati.
Integritas sebagai sebuah kebenaran dan ketepatan dari tindakan manusia sesuai kaidah moral harus menjadi fondasi kehidupan manusia dalam era metaverse kedepan. Manusia berintegritas adalah khitah yang harus dijalankan sebagai manusia sejati terutama dalam menyongsong era metaverse ke depan.
Web 3.0 continues to create a more democratic, censorship-free, and more transparent internet network by producing solutions to the problems of Web 2.0.
In this direction, metaverse technology, which is a future repetition of the internet consisting of 3-dimensional, permanent virtual spaces connected to the virtual universe, continues to reveal its difference.
At this point, the new technologies of the future continue to develop.
Demonstrating how to create an end-to-end Web-based application that uses blockchain for user authentication, read, and write access to the data stored on the blockchain
The Metaverse is a collection of virtual environments that supports 3D elements and interactions with digital objects through AR and VR technologies. Metaverse has the option to fully change the way we perceive reality and make out digital experience more real-like.
Games are a huge part of the Metaverse ecosystem. Through the use of VR and AR technologies in the Metaverse, the gaming experience can enhance drastically for the users. Here, we will analyze the 5 Best Metaverse Games – Sandbox, Axie Infinity, Illuvium, Decentraland, and Star Atlas. All of these games offer various types of features for their players.
Here, at 101 Blockchains, we offer various high-quality courses that offer in-depth analysis of blockchain technology. These courses will help you understand the core principles of this technology and how it will play a huge part in developing the Metaverse.
The following courses will help you ->
Metaverse Fundamentals
https://academy.101blockchains.com/courses/metaverse-fundamentals
NFT Fundamentals Course
https://academy.101blockchains.com/courses/nft-fundamentals
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Tokenization Fundamentals
https://academy.101blockchains.com/courses/tokenization-fundamentals
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/best-metaverse-games/
Contents
I. Metaverse Ecosystem
-Present and Future of Metaverse Infographics
-Why Metaverse Now?
II. Digital Twin Metaverse
-Digital Twin Types
-Digital Twin Models
-Digital Twin Patent Landscape
-Digital Twin Metaverse Use Case: AI Innovation Platform
III. Metaverse Enterprise & ESG Applications
-Metaverse Enterprise
-ESG Strategic Planning and Program Management
-Scenario Planning for Metaverse Enterprise
-TCFD Scenario Analysis
IV. ESG Digital Transformation
-ESG Sustainability Imperative
-ESG Investing and Management Consideration Core Factors
-ESG + Digital Integrated Transformation (ESGDX) Imperative
-How ESGDX Can Create New Revenue Streams?
-ESGDX for ESG Sustainability Management
-ESG Sustainability Management/Assessment Issues & Challenges & Solutions
-ESG DX Forum
V. Sustainable Smart City Development
-Metaverse for Sustainable Smart City
-Smart City Components
-Smart City Design and Development
-Smart City Management
-Smart City Financing and Business Development
*INTEGRITAS DAN IDENTITAS: TANTANGAN DALAM ERA METAVERSE*
[DIES NATALIS 34 TAHUN BHUMIKSARA ]
Perkembangan metaverse sebagai konvergensi realitas fisik yang disempurnakan secara virtual, menjadikan manusia modern dihadapkan dengan titik perubahan baru terutama paradigma kehidupan.
Perkembangan dan peluang ekonomi serta peningkatan produktifitas dalam bekerja menjadi dampak positif yang akan dirasakan manusia kedepan. Namun, perkembangan metaverse tak lepas dari dampak negatif yang menyertai seperti isu _cyber security_, _digital privacy_, degradasi interaksi sosial, bahkan krisis identitas sebagai manusia sejati.
Integritas sebagai sebuah kebenaran dan ketepatan dari tindakan manusia sesuai kaidah moral harus menjadi fondasi kehidupan manusia dalam era metaverse kedepan. Manusia berintegritas adalah khitah yang harus dijalankan sebagai manusia sejati terutama dalam menyongsong era metaverse ke depan.
Both 2021 and 2022 have been hallmark years in all things Web3, crypto, and blockchain. The market has dramatically expanded - we’ve seen new highs and some sobering lows alongside extraordinary and constant innovation. Here at Vayner3, we’ve grown from a small group of passionate crypto- natives to an end-to-end Web3 consultancy with 25+ enterprise clients across CPG, Retail, Fashion, Automotive, and Tech. Recent events have certainly surfaced clear bad actors and put the space in the spotlight for the wrong reasons, but we remain optimistic about our Web3 future. This paper will help explain why.
Web3 is the next evolution of the internet, consumer behavior, and culture powered by blockchain technology. Our definition of Web3 includes new technologies - cryptocurrencies, NFTs, DeFi, and the “metaverse” - but it also includes an important cultural and behavioral layer. Over the last 2 years, we have seen a renaissance begin in digital art, fashion, sports, music, and identity. As consumers spend more and more of their time online - and younger generations grow with a more intertwined version of physical and digital realities - we expect today’s fundamentals of emerging Web3 technology and culture to grow exponentially with profound implications.
In this paper, we attempt to dissect the meta Web3 narrative, dive into the data, and identify true signal in a (very) noisy market. We look at what matters most to marketers and operators at large enterprise organizations considering Web3 tech, and we focus on the near-term future. We stay grounded in business and technological realities, and we fully acknowledge that macroeconomic forces and regulatory changes could play a major role in how 2023 unfolds. All things considered, we remain convinced: Web3 is going increasingly mainstream in 2023. Let’s build the future together.
Metaverse is a digital or virtual world that will use technologies such as VR, AR, blockchain to create a unique experience for the users. On the other hand, NFTs or non-fungible tokens are a form of token that is unique in nature. These tokens are different from one another, indivisible and immutable. NFTs help represent ownership of digital assets and physical assets in the blockchain.
NFTs are a huge part of the Metaverse. Metaverse will need to have digital assets, and NFTs are perfect for representing any type of digital assets. Users can buy and sell their assets on the marketplace in the form of an NFT. Here, we will discuss the role of NFTs within the Metaverse and how various sectors within the Metaverse can use NFT for their benefits.
101 Blockchains is an educational platform where you will get access to in-depth and updated information regarding blockchain technology. As blockchain technology is a huge part of the Metaverse, we are offering an array of courses that will help you understand how Metaverse works.
The following courses will help you ->
Metaverse Fundamentals
https://academy.101blockchains.com/courses/metaverse-fundamentals
NFT Fundamentals Course
https://academy.101blockchains.com/courses/nft-fundamentals
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Tokenization Fundamentals
https://academy.101blockchains.com/courses/tokenization-fundamentals
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/nfts-and-metaverse/
Generative artificial intelligence (AI) models are reinventing communication, content creation, and information access. In this roadmap, presented at Bessemer's annual Seed Summit, Partner Talia Goldberg explores the technological advancements driving AI solutions and how these changes are opening up new promising area of investment.
Learn more about Generative AI:
https://www.bvp.com/atlas/is-ai-gener...
https://www.bvp.com/atlas/roadmap-the...
https://www.bvp.com/atlas/entering-th...
Subscribe for venture insights: https://bessemervp.team/subscribe
About Bessemer Venture Partners —
We help entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Our global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast, and has more than $20 billion of assets under management.
Connect with us —
Subscribe to our channel: https://bit.ly/3oVeW4k
Visit our website bvp.com: https://bit.ly/3bzFXaE
Sign up for our newsletter: https://bit.ly/3SoVY3D
Find Bessemer on LinkedIn: https://bit.ly/3zZpGoS
Find Bessemer on Twitter: https://bit.ly/3JsVJAF
Find Bessemer on Instagram: https://bit.ly/3BH8but
The Metaverse is a collection of 3D virtual simulations or worlds. Here, users can access various activities and can create their very own avatars. Metaverse will act as an alternative digital world where people can socialize and collaborate on tasks, play games and do many other activities.
The infrastructure of the Metaverse needs to have a solid foundation before connecting multiple virtual spaces with one another. Metaverse needs to be decentralized to function properly.
Centralized Metaverse will be extremely limited where third parties can take control with no intention of fair play. This is where blockchain comes in handy. Blockchain is the perfect technology for Metaverse as it can offer it the decentralization it needs for the users.
Here, at 101 Blockchains, we offer full courses that will help you understand blockchain and how blockchain will be a crucial part of the Metaverse.
The following courses will help you ->
Metaverse Fundamentals
https://academy.101blockchains.com/courses/metaverse-fundamentals
NFT Fundamentals Course
https://academy.101blockchains.com/courses/nft-fundamentals
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Tokenization Fundamentals
https://academy.101blockchains.com/courses/tokenization-fundamentals
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/metaverse-future/
The Five Biggest Tech Trends Transforming Government In 2022Bernard Marr
The digital transformation of governments and public authorities has been accelerated during the global pandemic. Here we look at the key technology trends, including digital identity management, automation of public services using artificial intelligence, the increasing importance of cyber security as well as the role of national cryptocurrencies.
Metaverse is expected to give more to mankind and holds the heavy potential to change the world we are used to. This concept does not seem to have an expiry dat
China metaverse report by daxue consulting and ayo consultingDaxue Consulting
In 2021, the Chinese government set Metaverse technology development as an objective for the country’s economic growth. With government incentives and a strong interest from Chinese consumers, Chinese tech giants have aggressively invested in Metaverse technology and applications ever since. VR enhanced gaming is of course one of those applications, but those technologies apply far beyond the world of video games. From virtual try-ons in retail stores to marketing campaigns based on metahuman influencers, Chinese firms are already using tomorrow’s Metaverse technologies to create ever increasingly engaging consumer experiences.
In this report made in collaboration with AYO Consulting, you will find an analysis of China’s metaverse and the various applications of its technology in retail.
Download to learn:
- What Metaverse technologies companies can leverage to boost sales in China
- Which companies are developing those technologies in China
- How VR and AR enhance the shopping experience of Chinese consumers
- How is the legal environment shaping the NFT and cryptocurrency landscape in China
- How and why companies are using metahumans to conduct marketing campaigns in China
- What are the benefits of hosting virtual events, with some Chinese case studies
Key stats on the Metaverse in China:
- After the creation of the Metaverse Industry Committee in 2021, financing of Metaverse-related projects reached 5.7 billion US dollars in China the same year. In 2022, from January to March alone those investments jumped to 8.1 billion US dollars.
- Chinese giants are heavily investing in Metaverse-related technologies. Among them, Bytedance acquired the third largest worldwide VR set maker Pico for 5 billion RMB.
- As of 2021, Huawei was the first 5G patent holder in the world at 15.4% of all 5G-related patents.
- The AI core industry in China was worth 189 billion RMB, almost doubling over two years.
- The virtual idol market in China was worth 101 billion RMB in 2021 and is projected to triple by the year 2023.
What will the Web3 Data Economy look like?
The shadow money economy (closed, power concentrated) moved to the token economy (open, permissionless). It has a base layer of reserve currency / store of value (BTC), unit of exchange (ETH) and token / app launch platform (Ethereum). And there are financial & utility last miles, like wallets, exchanges, and dapps.
We envision similar for the data economy. The shadow data economy (closed, power concentrated) will move to the Web3 data economy (open, permissionless). It will have a base layer of reserve currency / store of value, a unit of exchange, and data asset launch platform. Ocean Protocol's design provides all of these as a substrate, with artificial intelligence use cases as the linchpin. Finally, just like the token economy there are financial & utility last miles, like data wallets, data exchanges, and data science tools using Ocean tokens.
This talk was presented at the Web3 Summit, Berlin, Oct 22-24, 2018
PDF version: http://trent.st/content/20181022.2%20Web3%20Summit%20-%20McConaghy.pdf
Metaverse has become ae buzzword in the tech industry. Not a single day goes by without a mention of it
in the media, especially around investments, startups building components, new platforms being
announced and large companies entering this world of digital engagement. There is undeniably a huge momentum of an almost real 3D virtual world, and the clarion call was perhaps Facebook rebranding itself
as Meta which will perhaps be remembered as a red letter moment in the evolution of the Metaverse.
THE METAVERSE IS POTENTIALLY AN $8 TRILLION TO $13 TRILLION OPPORTUNITY (Citibank):
We believe the Metaverse may be the next generation of the
internet — combining the physical and digital world in a persistent
and immersive manner — and not purely a Virtual Reality world.
A device-agnostic Metaverse accessible via PCs, game consoles, and
smartphones could result in a very large ecosystem. Based on our
definition, we estimate the total addressable market for the Metaverse
economy could grow to between $8 trillion and $13 trillion by 2030.
METAVERSE USE CASES:
Gaming is viewed as a key Metaverse use case for the next several years due to the immersive and multi-player
experience of the space currently. But we believe that the Metaverse will eventually help us find new enhanced ways to
do all of our current activities, including commerce, entertainment and media, education and training, manufacturing and
enterprise in general. Enterprise use cases of the Metaverse in the coming years will likely include internal collaboration,
client contact, sales and marketing, advertising, events and conferences, engineering and design, and workforce train
METAVERSE INFRASTRUCTURE BUILDING:
the current state, the internet infrastructure is unsuitable for building a fully-immersive content streaming Metaverse
environment, that enables users to go seamlessly from one experience to another. To make the vision of Metaverse a reality, we
expect significant investment in a confluence of technology. Low latency — the time it takes a data signal to travel from one point
on the internet to another point and then come back — is critical to building a more realistic user experience.
MONEY IN THE METAVERSE:
We expect the next generation of the internet, i.e., the Metaverse, would encapsulate a range of form factors of money, including
the existing/traditional forms of money and also upcoming/digitally-native forms — cryptocurrency, stablecoins, central bank
digital currencies (CBDCs) — that were out of scope in a pre-blockchain virtual world
This document is the copyright of its respective holders. It is freely available on the Internet to anyone who searches for it independently. It is provided here under the "Fair Use Doctrine of U.S. Copyright Law."
What is NFT? | A Complete Use-Cases of Non-Fungible Token (NFT)Linda John
We provide the best Non Fungible Token development services to our clients. It will help to make your own NFT for Arts, digital collectibles, gaming, etc & NFT Marketplaces, etc. Get the complete Use-Cases of NFTs.
SOURCE: https://www.blockchainappfactory.com/nft-development-services
Web3 (or Web 3.0) is the next version of the Web. Because Web3 is just a concept, there are many, often conflicting, ideas about how it should look. Various companies emerged as leading companies in the field of web3.0
What Is Web3 and Why Is It Being Discussed So Much.pdfMarnusharris
Web3, the new era of the Internet has the potential to revolutionize the world. Thus, businesses worldwide are partnering with Web3 development company to build future proof business solutions.
Both 2021 and 2022 have been hallmark years in all things Web3, crypto, and blockchain. The market has dramatically expanded - we’ve seen new highs and some sobering lows alongside extraordinary and constant innovation. Here at Vayner3, we’ve grown from a small group of passionate crypto- natives to an end-to-end Web3 consultancy with 25+ enterprise clients across CPG, Retail, Fashion, Automotive, and Tech. Recent events have certainly surfaced clear bad actors and put the space in the spotlight for the wrong reasons, but we remain optimistic about our Web3 future. This paper will help explain why.
Web3 is the next evolution of the internet, consumer behavior, and culture powered by blockchain technology. Our definition of Web3 includes new technologies - cryptocurrencies, NFTs, DeFi, and the “metaverse” - but it also includes an important cultural and behavioral layer. Over the last 2 years, we have seen a renaissance begin in digital art, fashion, sports, music, and identity. As consumers spend more and more of their time online - and younger generations grow with a more intertwined version of physical and digital realities - we expect today’s fundamentals of emerging Web3 technology and culture to grow exponentially with profound implications.
In this paper, we attempt to dissect the meta Web3 narrative, dive into the data, and identify true signal in a (very) noisy market. We look at what matters most to marketers and operators at large enterprise organizations considering Web3 tech, and we focus on the near-term future. We stay grounded in business and technological realities, and we fully acknowledge that macroeconomic forces and regulatory changes could play a major role in how 2023 unfolds. All things considered, we remain convinced: Web3 is going increasingly mainstream in 2023. Let’s build the future together.
Metaverse is a digital or virtual world that will use technologies such as VR, AR, blockchain to create a unique experience for the users. On the other hand, NFTs or non-fungible tokens are a form of token that is unique in nature. These tokens are different from one another, indivisible and immutable. NFTs help represent ownership of digital assets and physical assets in the blockchain.
NFTs are a huge part of the Metaverse. Metaverse will need to have digital assets, and NFTs are perfect for representing any type of digital assets. Users can buy and sell their assets on the marketplace in the form of an NFT. Here, we will discuss the role of NFTs within the Metaverse and how various sectors within the Metaverse can use NFT for their benefits.
101 Blockchains is an educational platform where you will get access to in-depth and updated information regarding blockchain technology. As blockchain technology is a huge part of the Metaverse, we are offering an array of courses that will help you understand how Metaverse works.
The following courses will help you ->
Metaverse Fundamentals
https://academy.101blockchains.com/courses/metaverse-fundamentals
NFT Fundamentals Course
https://academy.101blockchains.com/courses/nft-fundamentals
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Tokenization Fundamentals
https://academy.101blockchains.com/courses/tokenization-fundamentals
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/nfts-and-metaverse/
Generative artificial intelligence (AI) models are reinventing communication, content creation, and information access. In this roadmap, presented at Bessemer's annual Seed Summit, Partner Talia Goldberg explores the technological advancements driving AI solutions and how these changes are opening up new promising area of investment.
Learn more about Generative AI:
https://www.bvp.com/atlas/is-ai-gener...
https://www.bvp.com/atlas/roadmap-the...
https://www.bvp.com/atlas/entering-th...
Subscribe for venture insights: https://bessemervp.team/subscribe
About Bessemer Venture Partners —
We help entrepreneurs lay strong foundations to build and forge long-standing companies. With more than 135 IPOs and 200 portfolio companies in the enterprise, consumer and healthcare spaces, Bessemer supports founders and CEOs from their early days through every stage of growth. Our global portfolio includes Pinterest, Shopify, Twilio, Yelp, LinkedIn, PagerDuty, DocuSign, Wix, Fiverr and Toast, and has more than $20 billion of assets under management.
Connect with us —
Subscribe to our channel: https://bit.ly/3oVeW4k
Visit our website bvp.com: https://bit.ly/3bzFXaE
Sign up for our newsletter: https://bit.ly/3SoVY3D
Find Bessemer on LinkedIn: https://bit.ly/3zZpGoS
Find Bessemer on Twitter: https://bit.ly/3JsVJAF
Find Bessemer on Instagram: https://bit.ly/3BH8but
The Metaverse is a collection of 3D virtual simulations or worlds. Here, users can access various activities and can create their very own avatars. Metaverse will act as an alternative digital world where people can socialize and collaborate on tasks, play games and do many other activities.
The infrastructure of the Metaverse needs to have a solid foundation before connecting multiple virtual spaces with one another. Metaverse needs to be decentralized to function properly.
Centralized Metaverse will be extremely limited where third parties can take control with no intention of fair play. This is where blockchain comes in handy. Blockchain is the perfect technology for Metaverse as it can offer it the decentralization it needs for the users.
Here, at 101 Blockchains, we offer full courses that will help you understand blockchain and how blockchain will be a crucial part of the Metaverse.
The following courses will help you ->
Metaverse Fundamentals
https://academy.101blockchains.com/courses/metaverse-fundamentals
NFT Fundamentals Course
https://academy.101blockchains.com/courses/nft-fundamentals
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Tokenization Fundamentals
https://academy.101blockchains.com/courses/tokenization-fundamentals
Learn more about the certification courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Expert (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Learn more from our guide ->
https://101blockchains.com/metaverse-future/
The Five Biggest Tech Trends Transforming Government In 2022Bernard Marr
The digital transformation of governments and public authorities has been accelerated during the global pandemic. Here we look at the key technology trends, including digital identity management, automation of public services using artificial intelligence, the increasing importance of cyber security as well as the role of national cryptocurrencies.
Metaverse is expected to give more to mankind and holds the heavy potential to change the world we are used to. This concept does not seem to have an expiry dat
China metaverse report by daxue consulting and ayo consultingDaxue Consulting
In 2021, the Chinese government set Metaverse technology development as an objective for the country’s economic growth. With government incentives and a strong interest from Chinese consumers, Chinese tech giants have aggressively invested in Metaverse technology and applications ever since. VR enhanced gaming is of course one of those applications, but those technologies apply far beyond the world of video games. From virtual try-ons in retail stores to marketing campaigns based on metahuman influencers, Chinese firms are already using tomorrow’s Metaverse technologies to create ever increasingly engaging consumer experiences.
In this report made in collaboration with AYO Consulting, you will find an analysis of China’s metaverse and the various applications of its technology in retail.
Download to learn:
- What Metaverse technologies companies can leverage to boost sales in China
- Which companies are developing those technologies in China
- How VR and AR enhance the shopping experience of Chinese consumers
- How is the legal environment shaping the NFT and cryptocurrency landscape in China
- How and why companies are using metahumans to conduct marketing campaigns in China
- What are the benefits of hosting virtual events, with some Chinese case studies
Key stats on the Metaverse in China:
- After the creation of the Metaverse Industry Committee in 2021, financing of Metaverse-related projects reached 5.7 billion US dollars in China the same year. In 2022, from January to March alone those investments jumped to 8.1 billion US dollars.
- Chinese giants are heavily investing in Metaverse-related technologies. Among them, Bytedance acquired the third largest worldwide VR set maker Pico for 5 billion RMB.
- As of 2021, Huawei was the first 5G patent holder in the world at 15.4% of all 5G-related patents.
- The AI core industry in China was worth 189 billion RMB, almost doubling over two years.
- The virtual idol market in China was worth 101 billion RMB in 2021 and is projected to triple by the year 2023.
What will the Web3 Data Economy look like?
The shadow money economy (closed, power concentrated) moved to the token economy (open, permissionless). It has a base layer of reserve currency / store of value (BTC), unit of exchange (ETH) and token / app launch platform (Ethereum). And there are financial & utility last miles, like wallets, exchanges, and dapps.
We envision similar for the data economy. The shadow data economy (closed, power concentrated) will move to the Web3 data economy (open, permissionless). It will have a base layer of reserve currency / store of value, a unit of exchange, and data asset launch platform. Ocean Protocol's design provides all of these as a substrate, with artificial intelligence use cases as the linchpin. Finally, just like the token economy there are financial & utility last miles, like data wallets, data exchanges, and data science tools using Ocean tokens.
This talk was presented at the Web3 Summit, Berlin, Oct 22-24, 2018
PDF version: http://trent.st/content/20181022.2%20Web3%20Summit%20-%20McConaghy.pdf
Metaverse has become ae buzzword in the tech industry. Not a single day goes by without a mention of it
in the media, especially around investments, startups building components, new platforms being
announced and large companies entering this world of digital engagement. There is undeniably a huge momentum of an almost real 3D virtual world, and the clarion call was perhaps Facebook rebranding itself
as Meta which will perhaps be remembered as a red letter moment in the evolution of the Metaverse.
THE METAVERSE IS POTENTIALLY AN $8 TRILLION TO $13 TRILLION OPPORTUNITY (Citibank):
We believe the Metaverse may be the next generation of the
internet — combining the physical and digital world in a persistent
and immersive manner — and not purely a Virtual Reality world.
A device-agnostic Metaverse accessible via PCs, game consoles, and
smartphones could result in a very large ecosystem. Based on our
definition, we estimate the total addressable market for the Metaverse
economy could grow to between $8 trillion and $13 trillion by 2030.
METAVERSE USE CASES:
Gaming is viewed as a key Metaverse use case for the next several years due to the immersive and multi-player
experience of the space currently. But we believe that the Metaverse will eventually help us find new enhanced ways to
do all of our current activities, including commerce, entertainment and media, education and training, manufacturing and
enterprise in general. Enterprise use cases of the Metaverse in the coming years will likely include internal collaboration,
client contact, sales and marketing, advertising, events and conferences, engineering and design, and workforce train
METAVERSE INFRASTRUCTURE BUILDING:
the current state, the internet infrastructure is unsuitable for building a fully-immersive content streaming Metaverse
environment, that enables users to go seamlessly from one experience to another. To make the vision of Metaverse a reality, we
expect significant investment in a confluence of technology. Low latency — the time it takes a data signal to travel from one point
on the internet to another point and then come back — is critical to building a more realistic user experience.
MONEY IN THE METAVERSE:
We expect the next generation of the internet, i.e., the Metaverse, would encapsulate a range of form factors of money, including
the existing/traditional forms of money and also upcoming/digitally-native forms — cryptocurrency, stablecoins, central bank
digital currencies (CBDCs) — that were out of scope in a pre-blockchain virtual world
This document is the copyright of its respective holders. It is freely available on the Internet to anyone who searches for it independently. It is provided here under the "Fair Use Doctrine of U.S. Copyright Law."
What is NFT? | A Complete Use-Cases of Non-Fungible Token (NFT)Linda John
We provide the best Non Fungible Token development services to our clients. It will help to make your own NFT for Arts, digital collectibles, gaming, etc & NFT Marketplaces, etc. Get the complete Use-Cases of NFTs.
SOURCE: https://www.blockchainappfactory.com/nft-development-services
Web3 (or Web 3.0) is the next version of the Web. Because Web3 is just a concept, there are many, often conflicting, ideas about how it should look. Various companies emerged as leading companies in the field of web3.0
What Is Web3 and Why Is It Being Discussed So Much.pdfMarnusharris
Web3, the new era of the Internet has the potential to revolutionize the world. Thus, businesses worldwide are partnering with Web3 development company to build future proof business solutions.
Web 3.0 or Decentralised Web to revolutionise the world of Internet Era through Blockchain, Big Data Analytics and Artificial Intelligence.
There has been a buzz around the Web 3.0 and the disruption it will bring to the Industry, but only a few know actually why it spawned and what is it about to transform. Let us travel back in time to understand and examine its predecessors - Web 1.0 and 2.0
The Blockchain, the Internet of Things, Advanced analytics, and Artificial Intelligence are potent technologies that will have a profound effect on society. They will take us much further into this new world of the information age as power shifts in a radical way from people in hierarchical institutions to automated networks and the algorithms that can coordinate in the Web 3.0 era.
The Web 3.0 knowledge management should give rise to an exciting and game-changing environment - the Social Semantic Web. However, still, the technology is in the early stages, but if you have used the Google search in the recent times know that the Google has used natural language to find the answer to your question. Hence you are already experiencing the revolutionary benefits of the next chapter in the story of the "World Wide Web (WWW)."
One of the most hyped IT buzzwords to have emerged in the last couple of years. Blockchain has found its way into major media headlines on a near-daily basis, but a year and a half ago, it was a word used by a relatively small number of people to describe the peer-to-peer distributed ledger technology.
Web 3.0 All the basics of the hype for beginners.pdfJames Brown
In the last two decades, the Internet has changed dramatically: from Internet Relay Chat (IRC) we have moved to modern social media platforms. From simple digital payments to sophisticated online banking services, the technology we use every day has changed noticeably. We also got to know new, completely internet-based technologies such as crypto and blockchain.
HOW COULD BLOCKCHAIN TECHNOLOGY CHANGE FINANCE?MorCryp
How Could Blockchain Technology Change Finance? Blockchains can serve as a fully transparent and accessible system of record for regulators. It can also be coded to authorize transactions which comply with regulatory reporting. Read more...
Despite the fact that the Web3 developer ecosystem is a small part of the greater online developer ecosystem, it appears to be rapidly increasing, so it makes sense to try to figure out what makes up the Web3 tech stack. This is the main reason why companies have started investing their time in it. As a result of which various Web3 Development Company
have emerged as per the changing trends in the market.
The Blockchain is a technology created with the bitcoin, which has become the world's 8th currency in terms of amounts exchanged. The Blockchain brings with it new promises of innovation in all sectors, but also of disruption of dominant economic models. By taking an interest now in its potential applications, we can be one step ahead of the next stage of the digital revolution and the advent of a "horizontal" society,
without intermediaries or centralized authority...
The Blockchain is probably set to revolutionize transactions and exchanges; in the same way that Internet enabled peer-to-peer communication, in the years to come the Blockchain will provide the means for peer-to-peer transactions under a decentralized and autonomous rationale.
Crypto currencies usage is growing in a more connected world. The traditional banking industry is being disrupted by a decentralized network, rich in computing resources and connectivity.
Full quality version here -> https://www.scribd.com/document/333257162/Crypto-Currency-Mining-Science
Agenda
• Understanding the evolution of the web.
• Web 3 architecture
• Getting started as a Web 3 developer
Speakers
• Lipsa Chhotray
• O.P. Pachoriya
• Rahul Mohan
What is Web3 All About? An Easy Explanation With ExamplesBernard Marr
Web3 is heralded as the next and better iteration of the internet. Here we cut through the hype to explain what it is and look at practical examples, benefits, and concerns.
How the blockchain is changing money and business, is it the currenc.pdfmohammedfootwear
How the blockchain is changing money and business, is it the currency of the future? Why or
Why not.
Solution
Over the past thirty years, no intellect of the digital age has higher explained ensuing huge factor
than Don Tapscott. In Wikinomics (2006) he was the primary to point out however the net
provides the primary world platform for mass collaboration. currently he writes a couple of
profound technological shift which will modification however the planet will business – and
everything else – mistreatment blockchain technology, that powers the digital currency Bitcoin.
The Internet as we all know it\'s nice for collaboration and communication, however deeply
imperfect once it involves commerce and privacy. The new blockchain technology facilitates
peer-to-peer transactions with none go-between like a bank or brass. this suggests personal|that
non-public} data is private and secure, whereas all activity is clear and incorrupt – reconciled by
mass collaboration and keep in code on a digital ledger. In different words we tend to won’t
ought to trust one another within the ancient sense, as a result of trust is constructed into the
system itself.
Bitcoin is just one application for this nice innovation in applied science. The blockchain will
hold any instrument, from deeds and wedding licenses to instructional degrees and birth
certificates. Tapscott calls it “the World Wide Ledger.” It permits sensible contracts, localized
autonomous organizations, localized government services, and transactions among things.
The forthcoming book can show however the blockchain can form ensuing era of prosperity in
finance, business, healthcare, education, governance, and lots of different fields.
The blockchain is largely a distributed info. consider a large, world computer program that runs
on millions and various computers. It’s distributed. It’s open supply, thus anyone will
modification the underlying code, and that they will see what’s occurring. It’s really peer to peer;
it doesn’t need powerful intermediaries to evidence or to settle transactions.
It uses progressive cryptography, thus if we\'ve a worldwide, distributed info that may record the
actual fact that we’ve done this dealing, what else might it record? Well, it might record any
structured data, not simply World Health Organization paid World Health Organizationm
however conjointly World Health Organization married whom or who owns what land or what
lightweight bought power from what power supply. within the case of the net of Things, we’re
getting to want a blockchain-settlement system beneath. Banks won’t be able to settle trillions of
period transactions between things.
So this can be a unprecedented factor. Associate in Nursing changeless, unhackable distributed
info of digital assets. this can be a platform for truth and it’s a platform for trust. The
implications square measure staggering, not only for the financial-services trade however
conjointly right across nearly each facet of soc.
From Bitcoin to Blockchain: Industry Review April 2017 from OLMA NEXT LtdOLMA Capital Management
When the Bitcoin cryptocurrency was released in 2009, its underpinning, the blockchain distributed ledger system was the real technological breakthrough, a formulation that promises to change the basis of all types of transactions globally.
Blockchain technology has paved the way for an Internet of Transactions. Blockchain technology has already proved its worth in such areas as means of payment, interbank exchanges and international remittances. Touted as the next digital revolution, blockchain technology has the potential to transform traditional industries and alter society through disintermediation of trade. Any situation that involves an intermediary that is expensive or fallible represents an opportunity to create a blockchain application case. No industry is immune to the blockchain’s disruption potential.
In 2017, the blockchain technology is at an inflection point. The industry is in a state of transition and must move to Blockchain 2.0, which means the adoption of more sophisticated applications, such as micro-payments and smart contracts. Having outgrown its original bitcoin community, the majority of blockchain applications have yet to pass beyond the prototype stage to make blockchain technology the greatest restructuring technology of the next decade.
Foreword
This paper is the result of a research project carried out by Labs
in EVRY Financial Services during the fall of 2015. The content of
this report is the result of a comprehensive study, featuring online
sources, literary works, as well as recordings of financial
conferences such as Consensus 2015 and Fintech Week 2015.
We aim to provide a comprehensive report detailing the
opportunities, challenges and key success factors for financial
institutions looking to leverage the opportunities presented by
blockchain technology.
We hope you enjoy this study and that it helps give you greater
understanding.
BITCOIN: WHY IT NOW BELONGS IN EVERY PORTFOLIOSteven Rhyner
{A technology|An innovation|A modern technology} is called "{disruptive|turbulent}" if it {creates|produces|develops} {a new|a brand-new} market that {first|very first|initial} {disturbs|disrupts|interrupts} {and then|and after that|then|and afterwards} displaces an earlier {technology|innovation|modern technology}. Bitcoin is {potentially|possibly} such {a technology|an innovation|a modern technology} {and|as well as|and also} {much more|a lot more|far more}.
What is Web3? The future of the internet, cryptocurrency, and estate planningBpointerTechnologies
The term Web3 is creating quite the buzz lately, especially among those interested in technology, cryptocurrency, and venture capital. Here’s an introduction to what some people are calling the internet of the future.
# Internet Security: Safeguarding Your Digital World
In the contemporary digital age, the internet is a cornerstone of our daily lives. It connects us to vast amounts of information, provides platforms for communication, enables commerce, and offers endless entertainment. However, with these conveniences come significant security challenges. Internet security is essential to protect our digital identities, sensitive data, and overall online experience. This comprehensive guide explores the multifaceted world of internet security, providing insights into its importance, common threats, and effective strategies to safeguard your digital world.
## Understanding Internet Security
Internet security encompasses the measures and protocols used to protect information, devices, and networks from unauthorized access, attacks, and damage. It involves a wide range of practices designed to safeguard data confidentiality, integrity, and availability. Effective internet security is crucial for individuals, businesses, and governments alike, as cyber threats continue to evolve in complexity and scale.
### Key Components of Internet Security
1. **Confidentiality**: Ensuring that information is accessible only to those authorized to access it.
2. **Integrity**: Protecting information from being altered or tampered with by unauthorized parties.
3. **Availability**: Ensuring that authorized users have reliable access to information and resources when needed.
## Common Internet Security Threats
Cyber threats are numerous and constantly evolving. Understanding these threats is the first step in protecting against them. Some of the most common internet security threats include:
### Malware
Malware, or malicious software, is designed to harm, exploit, or otherwise compromise a device, network, or service. Common types of malware include:
- **Viruses**: Programs that attach themselves to legitimate software and replicate, spreading to other programs and files.
- **Worms**: Standalone malware that replicates itself to spread to other computers.
- **Trojan Horses**: Malicious software disguised as legitimate software.
- **Ransomware**: Malware that encrypts a user's files and demands a ransom for the decryption key.
- **Spyware**: Software that secretly monitors and collects user information.
### Phishing
Phishing is a social engineering attack that aims to steal sensitive information such as usernames, passwords, and credit card details. Attackers often masquerade as trusted entities in email or other communication channels, tricking victims into providing their information.
### Man-in-the-Middle (MitM) Attacks
MitM attacks occur when an attacker intercepts and potentially alters communication between two parties without their knowledge. This can lead to the unauthorized acquisition of sensitive information.
### Denial-of-Service (DoS) and Distributed Denial-of-Service (DDoS) Attacks
Bridging the Digital Gap Brad Spiegel Macon, GA Initiative.pptxBrad Spiegel Macon GA
Brad Spiegel Macon GA’s journey exemplifies the profound impact that one individual can have on their community. Through his unwavering dedication to digital inclusion, he’s not only bridging the gap in Macon but also setting an example for others to follow.
APNIC Foundation, presented by Ellisha Heppner at the PNG DNS Forum 2024APNIC
Ellisha Heppner, Grant Management Lead, presented an update on APNIC Foundation to the PNG DNS Forum held from 6 to 10 May, 2024 in Port Moresby, Papua New Guinea.
1.Wireless Communication System_Wireless communication is a broad term that i...JeyaPerumal1
Wireless communication involves the transmission of information over a distance without the help of wires, cables or any other forms of electrical conductors.
Wireless communication is a broad term that incorporates all procedures and forms of connecting and communicating between two or more devices using a wireless signal through wireless communication technologies and devices.
Features of Wireless Communication
The evolution of wireless technology has brought many advancements with its effective features.
The transmitted distance can be anywhere between a few meters (for example, a television's remote control) and thousands of kilometers (for example, radio communication).
Wireless communication can be used for cellular telephony, wireless access to the internet, wireless home networking, and so on.
This 7-second Brain Wave Ritual Attracts Money To You.!nirahealhty
Discover the power of a simple 7-second brain wave ritual that can attract wealth and abundance into your life. By tapping into specific brain frequencies, this technique helps you manifest financial success effortlessly. Ready to transform your financial future? Try this powerful ritual and start attracting money today!
1. MagdielLopez/BelmontCreative
Summary.
The Big Idea Series /Welcome to Web3
What Is Web3?
byThomasStackpole
May10,2022
Web3isbeingtoutedasthefutureoftheinternet.Thevisionforthis
new,blockchain-basedwebincludescryptocurrencies,NFTs,DAOs,decentralized
finance,andmore.Itoffersaread/write/ownversionoftheweb,inwhichusers
haveafinancialstakein...
Doyourememberthefirsttimeyouheard about Bitcoin? Maybe it
was a faint buzz about a new technology that would change
everything. Perhaps you felt a tingle of FOMO as the folks who got
in early suddenly amassed a small fortune — even if it wasn’t
more
2. clear what the “money” could legitimately be spent on (really
expensive pizza?). Maybe you just wondered whether your
company should be working on a crypto strategy in case it did
take off in your industry, even if you didn’t really care one way
about it or the other.
00:00 / 32:56
Listentothisarticle
ListentomoreHBR,ontheNoaapp.
Most likely, soon after Bitcoin came to your attention — whenever
that may have been — there was a crash. Every year or two,
bitcoin’s value has tanked. Each time it does, skeptics rush to
dismiss it as dead, railing that it was always a scam for nerds and
crooks and was nothing more than a fringe curiosity pushed by
techno-libertarians and people who hate banks. Bitcoin never had
a future alongside real tech companies, they’d contend, and then
they’d forget about it and move on with their lives.
And, of course, it would come back.
Bitcoin now seems to be everywhere. Amidst all the demands on
our attention, many of us didn’t notice cryptocurrencies slowly
seeping into the mainstream. Until suddenly Larry David was
pitching them during the Super Bowl; stars like Paris Hilton, Tom
Brady, and Jamie Foxx were hawking them in ads; and a frankly
terrifying Wall Street–inspired robot bull celebrating
cryptocurrency was unveiled in Miami. What was first a curiosity
and then a speculative niche has become big business.
Crypto, however, is just the tip of the spear. The underlying
technology, blockchain, is what’s called a “distributed ledger” — a
database hosted by a network of computers instead of a single
server — that offers users an immutable and transparent way to
store information. Blockchain is now being deployed to new ends:
for instance, to create “digital deed” ownership records of unique
digital objects — or nonfungible tokens. NFTs have exploded in
2022, conjuring a $41 billion market seemingly out of thin air.
3. Beeple, for example, caused a sensation last year when an NFT of
his artwork sold for $69 million at Christie’s. Even more esoteric
cousins, such as DAOs, or “decentralized autonomous
organizations,” operate like headless corporations: They raise and
spend money, but all decisions are voted on by members and
executed by encoded rules. One DAO recently raised $47 million
in an attempt to buy a rare copy of the U.S. Constitution.
Advocates of DeFi (or “decentralized finance,” which aims to
remake the global financial system) are lobbying Congress and
pitching a future without banks.
The totality of these efforts is called “Web3.” The moniker is a
convenient shorthand for the project of rewiring how the web
works, using blockchain to change how information is stored,
shared, and owned. In theory, a blockchain-based web could
shatter the monopolies on who controls information, who makes
money, and even how networks and corporations work.
Advocates argue that Web3 will create new economies, new
classes of products, and new services online; that it will return
democracy to the web; and that is going to define the next era of
the internet. Like the Marvel villain Thanos, Web3 is inevitable.
Or is it? While it’s undeniable that energy, money, and talent are
surging into Web3 projects, remaking the web is a major
undertaking. For all its promise, blockchain faces significant
technical, environmental, ethical, and regulatory hurdles
between here and hegemony. A growing chorus of skeptics warns
that Web3 is rotten with speculation, theft, and privacy problems,
and that the pull of centralization and the proliferation of new
intermediaries is already undermining the utopian pitch for a
decentralized web.
Meanwhile, businesses and leaders are trying to make sense of the
potential — and pitfalls — of a rapidly changing landscape that
could pay serious dividends to organizations that get it right.
Many companies are testing the Web3 waters, and while some
have enjoyed major successes, several high-profile firms are
finding that they (or their customers) don’t like the temperature.
4. Most people, of course, don’t even really know what Web3 is: In a
casual poll of HBR readers on LinkedIn in March 2022, almost
70% said they didn’t know what the term meant.
Welcome to the confusing, contested, exciting, utopian, scam-
ridden, disastrous, democratizing, (maybe) decentralized world of
Web3. Here’s what you need to know.
InstallUpdate:FromWeb1toWeb3
To put Web3 into context, let me offer a quick refresher.
Watch“TheExplainer:WhatIsWeb3?”
In the beginning, there was the internet: the physical
infrastructure of wires and servers that lets computers, and the
people in front of them, talk to each other. The U.S. government’s
ARPANET sent its first message in 1969, but the web as we know it
today didn’t emerge until 1991, when HTML and URLs made it
possible for users to navigate between static pages. Consider this
the read-only web, or Web1.
In the early 2000s, things started to change. For one, the internet
was becoming more interactive; it was an era of user-generated
content, or the read/write web. Social media was a key feature of
Web2 (or Web 2.0, as you may know it), and Facebook, Twitter,
and Tumblr came to define the experience of being online.
5. YouTube, Wikipedia, and Google, along with the ability to
comment on content, expanded our ability to watch, learn,
search, and communicate.
The Web2 era has also been one of centralization. Network effects
and economies of scale have led to clear winners, and those
companies (many of which are listed above) have produced mind-
boggling wealth for themselves and their shareholders by
scraping users’ data and selling targeted ads against it. This has
allowed services to be offered for “free,” though users initially
didn’t understand the implications of that bargain. Web2 also
created new ways for regular people to make money, such as
through the sharing economy and the sometimes lucrative job of
being an influencer.
There’s plenty to critique in the current system: The companies
with concentrated or near-monopoly power have often failed to
wield it responsibly, consumers who now realize that they are the
product are becoming increasingly uncomfortable with ceding
control of their personal data, and it’s possible that the targeted-
ad economy is a fragile bubble that does little to actually boost
advertisers. As the web has grown up, centralized, and gone
corporate, many have started to wonder whether there’s a better
future out there.
Which brings us to Web3. Advocates of this vision are pitching it
as a roots-deep update that will correct the problems and perverse
incentives of Web2. Worried about privacy? Encrypted wallets
protect your online identity. About censorship? A decentralized
database stores everything immutably and transparently,
preventing moderators from swooping in to delete offending
content. Centralization? You get a real vote on decisions made by
the networks you spend time on. More than that, you get a stake
that’s worth something — you’re not a product, you’re an owner.
This is the vision of the read/write/own web.
OK,butWhatIsWeb3?
6. The seeds of what would become Web3 were planted in 1991,
when scientists W. Scott Stornetta and Stuart Haber launched the
first blockchain — a project to time-stamp digital documents. But
the idea didn’t really take root until 2009, when Bitcoin was
launched in the wake of the financial crisis (and at least partially
in response to it) by the pseudonymous inventor Satoshi
Nakamoto. It and its undergirding blockchain technology work
like this: Ownership of the cryptocurrency is tracked on a shared
public ledger, and when one user wants to make a transfer,
“miners” process the transaction by solving a complex math
problem, adding a new “block” of data to the chain and earning
newly created bitcoin for their efforts. While the Bitcoin chain is
used just for currency, newer blockchains offer other options.
Ethereum, which launched in 2015, is both a cryptocurrency and
a platform that can be used to build other cryptocurrencies and
blockchain projects. Gavin Wood, one of its cofounders, described
Ethereum as “one computer for the entire planet,” with
computing power distributed across the globe and controlled
nowhere. Now, after more than a decade, proponents of a
blockchain-based web are proclaiming that a new era — Web3 —
has dawned.
Put very simply, Web3 is an extension of cryptocurrency, using
blockchain in new ways to new ends. A blockchain can store the
number of tokens in a wallet, the terms of a self-executing
contract, or the code for a decentralized app (dApp). Not all
blockchains work the same way, but in general, coins are used as
incentives for miners to process transactions. On “proof of work”
chains like Bitcoin, solving the complex math problems necessary
to process transactions is energy-intensive by design. On a “proof
of stake” chain, which are newer but increasingly common,
processing transactions simply requires that the verifiers with a
stake in the chain agree that a transaction is legit — a process
that’s significantly more efficient. In both cases, transaction data
is public, though users’ wallets are identified only by a
cryptographically generated address. Blockchains are “write
only,” which means you can add data to them but can’t delete it.
7. Web3 and cryptocurrencies run on what are called
“permissionless” blockchains, which have no centralized control
and don’t require users to trust — or even know anything about —
other users to do business with them. This is mostly what people
are talking about when they say blockchain. “Web3 is the internet
owned by the builders and users, orchestrated with tokens,” says
Chris Dixon, a partner at the venture capital firm a16z and one of
Web3’s foremost advocates and investors, borrowing the
definition from Web3 adviser Packy McCormick. This is a big deal
because it changes a foundational dynamic of today’s web, in
which companies squeeze users for every bit of data they can.
Tokens and shared ownership, Dixon says, fix “the core problem
of centralized networks, where the value is accumulated by one
company, and the company ends up fighting its own users and
partners.”
In 2014, Ethereum’s Wood wrote a foundational blog post in
which he sketched out his view of the new era. Web3 is a
“reimagination of the sorts of things we already use the web for,
but with a fundamentally different model for the interactions
between parties,” he said. “Information that we assume to be
public, we publish. Information that we assume to be agreed, we
place on a consensus-ledger. Information that we assume to be
private, we keep secret and never reveal.” In this vision, all
communication is encrypted, and identities are hidden. “In short,
we engineer the system to mathematically enforce our prior
assumptions, since no government or organization can
reasonably be trusted.”
The idea has evolved since then, and new use cases have started
popping up. The Web3 streaming service Sound.xyz promises a
better deal for artists. Blockchain-based games, like the Pokémon-
esque Axie Infinity, let users earn money as they play. So-called
“stablecoins,” whose value is pegged to the dollar, the euro, or
some other external reference, have been pitched as upgrades to
the global financial system. And crypto has gained traction as a
solution for cross-border payments, especially for users in volatile
environments.
8. “Blockchain is a new type of computer,” Dixon tells me. Just like it
took years to understand the extent to which PCs and
smartphones transformed the way we use technology, blockchain
has been in a long incubation phase. Now, he says, “I think we
might be in the golden period of Web3, where all the
entrepreneurs are entering.” Although the eye-popping price tags,
like the Beeple sale, have garnered much of the attention, there’s
more to the story. “The vast majority of what I’m seeing is smaller-
dollar things that are much more around communities,” he notes,
like Sound.xyz. Whereas scale has been a key measure of a Web2
company, engagement is a better indicator of what might succeed
in Web3.
Dixon is betting big on this future. He and a16z started putting
money into the space in 2013 and invested $2.2 billion in Web3
companies last year. He is looking to double that in 2022. The
number of active developers working on Web3 code nearly
doubled in 2021, to roughly 18,000 — not huge, considering global
numbers, but notable nonetheless. Perhaps most significantly,
Web3 projects have become part of the zeitgeist, and the buzz is
undeniable.
But as high-profile, self-immolating startups like Theranos and
WeWork remind us, buzz isn’t everything. So what happens next?
And what should you watch out for?
WhatWeb3MightMeanforCompanies
Web3 will have a few key differences from Web2: Users won’t need
separate log-ins for every site they visit but instead will use a
centralized identity (probably their crypto wallet) that carries
their information. They’ll have more control over the sites they
visit, as they earn or buy tokens that allow them to vote on
decisions or unlock functionality.
It’s still unclear whether the product lives up to the pitch.
Predictions as to what Web3 might look like at scale are just
guesses, but some projects have grown pretty big. The Bored Ape
Yacht Club (BAYC), NBA Top Shot, and the cryptogaming giant
Dapper Labs have built successful NFT communities.
9. Clearinghouses such as Coinbase (for buying, selling, and storing
cryptocurrency) and OpenSea (the largest digital marketplace for
crypto collectibles and NFTs) have created Web3 on-ramps for
people with little to no technical know-how.
While companies such as Microsoft, Overstock, and PayPal have
accepted cryptocurrencies for years, NFTs — which have recently
exploded in popularity — are the primary way brands are now
experimenting with Web3. Practically speaking, an NFT is some
mix of a deed, a certificate of authenticity, and a membership
card. It can confer “ownership” of digital art (typically, ownership
is recorded on the blockchain and a link points to an image
somewhere) or rights or access to a group. NFTs can operate on a
smaller scale than coins because they create their own ecosystems
and require nothing more than a community of people who find
value in the project. For example, baseball cards are valuable only
to certain collectors, but that group really believes in their value.
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10. Most successful forays by traditional companies into Web3 have
been ones that create communities or plug in to existing ones.
Consider the NBA: Top Shot was one of the first NFT projects from
a legacy brand, and it offered fans the opportunity to buy and
trade clips, called “moments” (a LeBron James dunk, for
instance), that function like trading cards. It took off because it
created a new kind of community space for fans, many of whom
may have already been collecting basketball cards. Other front-
runner brands, such as Nike, Adidas, and Under Armour,
similarly added a digital layer to their existing collector
communities. All three companies offer NFTs that can be used in
the virtual world — for example, allowing the owner to gear up an
avatar — or that confer rights to products or exclusive streetwear
drops in the real world. Adidas sold $23 million worth of NFTs in
less than a day and instantly created a resale market on OpenSea,
just like what you might see after a limited drop of new shoes.
Similarly, Time magazine launched an NFT project to build an
online community that leverages the publication’s deep history.
Bored Ape Yacht Club is the biggest success story of an NFT
project going mainstream. Combining hype and exclusivity, BAYC
offers access to real-life parties and to online spaces, along with
usage rights to the ape’s image — further reinforcing the brand.
An ape NFT puts the owner in an exclusive club, both figuratively
and literally.
One lesson from these efforts is that on-ramps matter, but less so
the more committed the community is. Getting a crypto wallet
isn’t hard, but it is an added step. So Top Shot doesn’t require a
one — users can just plug in their credit card — which helped it
acquire interested users new to NFTs. The Bored Ape Yacht Club
was a niche interest, but when it took off, it became a catalyst for
people to create wallets and drove interest in OpenSea.
Some companies have had rockier experiences with NFT projects
and crytpo features. For example, when Jason Citron, the CEO of
Discord, a voice, video, and text communication service, teased a
feature that could connect the app to crypto wallets, Discord users
mutinied, leading him to clarify that the company had “no
11. current plans” to launch the tie-in. The underwear brand
MeUndies and the UK branch of the World Wildlife Fund both
quickly pulled the plug on NFT projects after a fierce backlash by
customers furious about their sizable carbon footprint. Even the
success stories have hit bumps in the road. Nike is currently
fighting to have unauthorized NFTs “destroyed,” and OpenSea is
full of knockoffs and imitators. Given that blockchain is
immutable, this is raising novel legal questions, and it isn’t clear
how companies will handle the issue. Further, there’s recent
evidence that the market for NFTs is stalling entirely.
Companies who are considering stepping into this space should
remember this: Web3 is polarizing, and there are no guarantees.
Amid many points of disagreement, the chief divide is between
people who believe in what Web3 could be and critics who decry
the many problems dogging it right now.
SystemError:TheCaseAgainstWeb3
The early days of a technology are a heady time. The possibilities
are endless, and there’s a focus on what it can do — or will do,
according to optimists. I’m old enough to remember when the
unfettered discourse enabled by Twitter and Facebook was
supposed to sow democracy the world over. As Web3’s aura of
inevitability (and profitability) wins converts, it’s important to
consider what could go wrong and recognize what’s already going
wrong.
It’srifewithspeculation.Skeptics argue that for all the rhetoric
about democratization, ownership opportunities, and mass
wealth building, Web3 is nothing more than a giant speculative
economy that will mostly make some already-rich people even
richer. It’s easy to see why this argument makes sense. The top
0.01% of bitcoin holders own 27% of the supply. Wash trading, or
selling assets to yourself, and market manipulation have been
reported in both crypto and NFT markets, artificially pumping up
value and allowing owners to earn coins through sham trades. In
an interview on the podcast The Dig, reporters Edward Ongweso
Jr. and Jacob Silverman characterized the whole system as an
elaborate upward transfer of wealth. Writing in The Atlantic,
12. investor Rex Woodbury called Web3 “the financialization of
everything” (and not in a good way). On a more granular level,
Molly White, a software engineer, created Web3 Is Going Just
Great, where she tracks the many hacks, scams, and implosions in
the Web3 world, underscoring the pitfalls of the unregulated, Wild
West territory.
tCreative
The unpredictable, speculative nature of the markets may be a
feature, not a bug. According to technologist David Rosenthal,
speculation on cryptocurrencies is the engine that drives Web3 —
that it can’t work without it. “[A] permissionless blockchain
requires a cryptocurrency to function, and this cryptocurrency
requires speculation to function,” he said in a talk at Stanford in
early 2022. Basically, he’s describing a pyramid scheme:
Blockchains need to give people something in exchange for
volunteering computing power, and cryptocurrencies fill that role
— but the system works only if other people are willing to buy
them believing that they’ll be worth more in the future. Stephen
Diehl, a technologist and vocal critic of Web3, floridly dismissed
blockchain as “a one-trick pony whose only application is creating
censorship-resistant crypto investment schemes, an invention
whose negative externalities and capacity for harm vastly
outweigh any possible uses.”
Thetechisn’tpractical(andit’sexpensive).Questions abound as
to whether Web3 — or blockchain, really — makes sense as the
technology that will define the web’s next era. “Whether or not
you agree with the philosophy/economics behind
cryptocurrencies, they are — simply put — a software
13. architecture disaster in the making,” says Grady Booch, chief
scientist for software engineering at IBM Research. All technology
comes with trade-offs, Booch explained in a Twitter Spaces
conversation, and the cost of a “trustless” system is that it’s highly
inefficient, capable of processing only a few transactions per
minute — tiny amounts of data compared with a centralized
system like, say, Amazon Web Services. Decentralization makes
technology more complicated and further out of reach for basic
users, rather than simpler and more accessible.
While it’s possible to fix this by adding new layers that can speed
things up, doing so makes the whole system more centralized,
which defeats the purpose. Moxie Marlinspike, founder of the
encrypted messaging app Signal, put it this way: “Once a
distributed ecosystem centralizes around a platform for
convenience, it becomes the worst of both worlds: centralized
control, but still distributed enough to become mired in time.”
Right now, the inefficiency of blockchain comes at a cost, quite
literally. Transaction costs on Bitcoin and Ethereum (which calls
them gas fees) can run anywhere from a few bucks to hundreds of
dollars. Storing one megabyte of data on a blockchain distributed
ledger can cost thousands, or even tens of thousands, of dollars —
yes, you read that correctly. That’s why the NFT you bought
probably isn’t actually on a blockchain. The code on the chain
indicating your ownership includes an address, pointing to where
the image is stored. Which can and has caused problems,
including your pricy purchase disappearing if the server it
actually lives on goes down.
Itenablesharassmentandabuse.The potential for disastrous
unintended consequences is very real. “While blockchain
proponents speak about a ‘future of the web’ based around public
ledgers, anonymity, and immutability,” writes Molly White, “those
of us who have been harassed online look on in horror as obvious
vectors for harassment and abuse are overlooked, if not outright
touted as features.” Although crypto wallets theoretically provide
anonymity, the fact that transactions are public means that they
can be traced back to individuals. (The FBI is pretty good at doing
14. this, which is why crypto isn’t great for criminal enterprise.)
“Imagine if, when you Venmo-ed your Tinder date for your half of
the meal, they could now see every other transaction you’d ever
made,” including with other dates, your therapist, and the corner
store by your house. That information in the hands of an abusive
ex-partner or a stalker could be life-threatening.
The immutability of the blockchain also means that data can’t be
taken down. There’s no way to erase anything, whether it’s a
regrettable post or revenge porn. Immutability also could spell
major problems for Web3 in some places, such as Europe, where
the General Data Protection Regulation (GDPR) enshrines the
right to have personal data erased.
It’scurrentlyterriblefortheenvironment.Web3’s environmental
impact is vast and deeply damaging. It can be broken into two
categories: energy use and tech waste, both of which are products
of mining. Running a network that depends on supercomputers
competing to solve complex equations every time you want to
save data on a blockchain takes a tremendous amount of energy.
It also generates e-waste: According to Rosenthal, Bitcoin
produces “an average of one whole MacBook Air of e-waste per
‘economically meaningful’ transaction” as miners cycle through
quantities of short-lived computer hardware. The research he
bases this claim on, by Alex de Vries and Christian Stoll, found
that the annual e-waste created by Bitcoin is comparable to the
amount produced by a country the size of the Netherlands.
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Whether and how these issues will be addressed is hard to say, in
part because it’s still unclear whether Web3 will really catch on.
Blockchain is a technology in search of a real use, says technology
15. writer Evgeny Morozov. “The business model of most Web3
ventures is self-referential in the extreme, feeding off people’s
faith in the inevitable transition from Web 2.0 to Web3.” Tim
O’Reilly, who coined “Web 2.0” to describe the platform web of the
early 2000s, claims that we’re in an investment boom reminiscent
of the dot-com era before the bottom fell out. “Web 2.0 was not a
version number, it was the second coming of the web after the
dot-com bust,” he says. “I don’t think we’re going to be able to call
Web3 ‘Web3’ until after the crypto bust. Because only then will we
get to see what’s stuck around.”
If that’s true, then innovation is going to come at significant cost.
As Hilary Allen, an American University law professor who
studies the 2008 financial crisis, points out, the system now
“mirrors and magnifies the fragilities of shadow banking
innovations that resulted in the 2008 financial crisis.” If the Web3
bubble bursts, it could leave a lot of folks high and dry.
EarlyDaysAreHereAgain
So, where exactly is Web3 headed? Ethereum cofounder Vitalik
Buterin has expressed concerns about the direction his creation
has taken but continues to be optimistic. In a response to
Marlinspike on the Ethereum Reddit page, he conceded that the
Signal founder presented “a correct criticism of the current state
of the ecosystem” but maintained that the decentralized web is
catching up, and pretty quickly at that. The work being done now
— creating libraries of code — will soon make it easier for other
developers to start working on Web3 projects. “I think the
properly authenticated decentralized blockchain world is coming
and is much closer to being here than many people think.”
For one, proof of work — the inefficient-by-design system Bitcoin
and Ethereum run on — is falling out of vogue. Instead of mining,
which uses intensive amounts of energy, validation increasingly
comes from users buying in (owning a stake) to approve
transactions. Ethereum estimates that the update to proof of stake
will cut its energy usage by 99.95%, while making the platform
faster and more efficient. Solana, a newer blockchain that uses
proof of stake and “proof of history,” a mechanism that relies on
16. time stamps, can process 65,000 transactions per second
(compared with Ethereum’s current rate of about 15 per second
and Bitcoin’s seven) and uses about as much energy as two Google
searches — consumption it buys carbon offsets for.
Some companies are adopting a hybrid approach to blockchain,
which offers the benefits without the constraints. “There are a lot
of really interesting new architectures, which put certain things
on the blockchain but not others,” he tells me. A social network,
for instance, could record your followers and who you follow on
the blockchain, but not your posts, giving you the option to delete
them.
Hybrid models can also help companies address GDPR and other
regulations. “To comply with the right to erasure,” explain Cindy
Compert, Maurizio Luinetti, and Bertrand Portier in an IBM white
paper, “personal data should be kept private from the blockchain
in an ‘off-chain’ data store, with only its evidence (cryptographic
hash) exposed to the chain.” That way, personal data can be
deleted in keeping with GDPR without affecting the chain.
For better or worse, regulation is coming — slowly — and it will
define the next chapter of Web3. China has banned
cryptocurrencies outright, along with Algeria, Bangladesh, Egypt,
Iraq, Morocco, Oman, Qatar, and Tunisia. Europe is considering
environmental regulations that would curb or ban proof-of-work
blockchains. In the U.S., the Biden administration issued an
executive order in March directing the federal government to look
into regulating cryptocurrencies.
With so much of Web3 still being hashed out, it remains a high-
risk, high-reward bet. Certain companies and sectors have more
incentive than others to try their luck, particularly those that got
burned by being left out in earlier eras of the web. It’s not a
coincidence that a media company like Time is interested in the
opportunities of Web3 after Web2 decimated its business model.
Other organizations — like Nike and the NBA, which already have
17.
experience with limited drops and commoditizing moments —
may have simply found that their business models are an easy fit.
Other businesses won’t have as clear a path.
The soaring claims around Web3 — that it will take over the
internet, upend the financial system, redistribute wealth, and
make the web democratic again — should be taken with a grain of
salt. We’ve heard all this before, and we’ve seen how earlier
episodes of Web3 euphoria fizzled. But that doesn’t mean it
should be written off entirely. Maybe it booms, maybe it busts, but
we’ll be living with some form of it either way. What version —
and how your company responds — could determine the future of
the digital economy and what life online looks like for the next
internet epoch. For now, that future is still up for grabs. Nothing,
after all, is inevitable.
ThomasStackpoleis a senior editor at
Harvard Business Review.