How web3 shapes our world? Web3 is a term that’s often used but not always clearly understood, even more so than AI. Let’s break it down… Just like the Internet, Web3 isn’t solely about its technological foundation. However, this is usually the main focus when explaining it…
The Four Pillars of Web3
In my view, Web3 (also known as the decentralized internet, though whether it’s truly the ‘third’ iteration is up for debate) encompasses:
- Design Principles
- Technology Components (often referred to as Primitives)
- Problems that Need Solutions (or areas needing improvement)
People are crucial; without them, nothing is built. Blockchain alone isn’t a world-saver and doesn’t inherently deserve widespread adoption.
Principles and Problems: Guiding Web3’s Growth
Principles are vital for aligning on shared objectives, methodologies, and standards, all of which are essential for any technology, especially one that grows through network effects. Addressing problems helps us focus on specific needs and desired features. It’s also important to be clear about our target audience. Remember, technology deployment is just as critical in business-to-business as it is in business-to-consumer, if not more so.
The Role of Technology in Shaping Web3
Then, we bring in the TECHNOLOGY. I acknowledge there’s a paradox of needing something to build before you can build anything… Fortunately, we have plenty of resources at this stage. Understanding the technological capabilities that underpin Web3 is crucial. It helps generate ideas for what’s possible when using a decentralized approach in application development or solving problems with technology… But it’s also important to understand the PRINCIPLES that guide the PEOPLE in solving meaningful PROBLEMS in today’s world (ironically, in a post featuring an image of technology components).
Clarifying Web3’s Distinct Identity
How web3 shapes our world? It’s worth noting that Web3 is not the same as Tim Berners-Lee’s Semantic Web 3.0, just to clear any confusion (again, ironic given the title ‘Web 3.0 Primitives’ in the accompanying image). So, how do YOU describe Web3 to those who are keen to learn more about it?
Working across multiple aspects of Blockchain and Web3 technologies since 2016; He has helped large organizations and start-ups to harness the benefits of using decentralized technologies to create commercially viable businesses and digital transformations. He has experience in leading and scaling large ecosystem and delivery teams to bring Blockchain-enabled platforms into production.