What drives Web3’s tech expansion? Web3 is NOT only Blockchain. These are the multiple technologies that will power the decentralised internet, and which you should be taking your time to learn…
Catalysts and the Journey
Sure… Bitcoin, Ethereum and the Blockchains that followed were the catalysts for Web3 and the decentralisation ‘movement’, and we should remember the 14+ year journey it’s taken to get here. However, Web3 is not about building Blockchains. Blockchains are the decentralised INFRASTRUCTURE on which we build, but in reality there’s much more to it…
The Monumental Shift: Digital Transformation
The move to Web3 is possibly the biggest DIGITAL TRANSFORMATION of them all, as it requires rewiring technology, economic structures and the mindsets of individuals, organisations and governments. No small task. And remember, most of our interactions with technology come in the form of APPLICATIONS (apps) not the base code or infrastructure that underpins them. And for applications, we need MULTIPLE TECHNOLOGIES to create, orchestrate, enhance and manage them.
Enhancing Capabilities: Technological Fusion
Put a different way, it’s about connecting technology capabilities together to improve the JOBS PEOPLE WANT TO DO and doing so in a decentralised way (e.g. for transparency, reducing risk of censorship, creating shared incentives, using open source, enabling interoperability between other apps and economies). So as you’re looking for ‘who to follow’ or which hashtags on LinkedIn or Google Alerts or TikTok to add, consider expanding your reading list to help you understand what other technologies can bring to the stack.
Diversified Technological Contributions to Web3
These are dramatic oversimplifications, but beyond what Blockchain brings, you might want your apps to have:
- Metaverse: Immersive, perpetual, collaborative environments0
- Artificial Intelligence: Automated processing and content
- DeFi: Crowd finance that runs 24/7
- Internet of Things: Autonomous agents or connected devices
- Gamification: Making apps fun
- Decentralised Autonomous Organisations: Digital governance
Commitment to Balanced Insights
While I appreciate that you’ll get ‘mostly’ Blockchain content from me, as it’s a topic I believe I have depth, proximity and relevance from which to share with you; you’ll find me researching all of these technologies regularly so I can provide OBJECTIVITY and BALANCE when I talk about Web3.
Web3’s Role in a Promising Future
What drives Web3’s tech expansion? Blockchain Won’t Save the World. But… Web3 will definitely be part of a better world that I’m excited to live in. Other than Blockchain, which technology do you think will have the greatest benefit for Web3? Or that are missing from the infographic?
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.