Surprised you are not more bullish on web3 social. IMO that will be the ultimate catalyst. As Creators become the new Movie Stars, they are going to want a protocol that gives them a favorable monetization structure, that even regular Users of platforms can get a piece of. Flips the “users are the product” narrative in favor of collective ownership and incentives participation, increasing network effects. I just wrote an article on this if you click my face. Love the article tho P
Still don't see how an NFT can grant ownership of anything real in even the digital world, let alone the physical one. To own something means to have control over it. If the NFT merely holds a pointer to the thing you own and what lives behind that pointer is not under your control then you do not own it full stop.
Problem #2
The "world wide web" (forget version numbers) was about quickening the dissemination of information. "Information wants to be free" was the promise. The lie was that while information may "want" to be free, the substrate in which that information is created, modified and persisted most definitely does not "want" to be free. We can argue economic angels fitting on heads of pins but the true problem here lies with the laws of thermodynamics that govern our universe.
Web3 on the other hand seems to be built on a foundation of ownership and monetization. Perhaps this can be seen as a nod to the fact that the utopian vision of web 1.0 was impractical?
But without a way to store immense volumes of information directly in a blockchain I fail to see how web3 can really do anything useful to justify being associated with web 1/2 technologies?
It is uncertain whether web3 will justify the hype surrounding it. Several factors, including technological development, regulatory environment, user adoption, industry collaboration, and real-world use cases, will determine its success. It is important to remain cautious and observe how web3 evolves over time.
The first problem is that owning an NFT does not necessarily grant control over the underlying digital or physical asset, rendering the concept of ownership incomplete. The second problem is that Web3 appears to prioritize ownership and monetization over the free dissemination of information that was promised by the earlier versions of the internet.
The #DeSci movement is global. In fact, it started globally before Silicon Valley and their reps started paying any attention.
We also have a science publishing platform FrontierRegistry. We minted the deck as a NFT on Opensea.io / search FrontierRegistry back in February after floating it around VCs and developer grants for 6 months. Happy to continue the conversation!
There are so many cool projects that sometimes it's hard to make mental order and list them all. Great job in doing that, and thanks for highlighting all the references, they all seem foundational essays!
In Response to "When crypto touches RWA – when small business owners can source cheaper capital, when homeowners can get more competitive home equity loans, and when users can seamlessly own a piece of the products they use – regulators will be motivated to find solutions that protect people without restricting access.
As Zach Weinberg highlighted in our debate on DeFi and housing, there’s a lot to figure out to bring real world assets (RWA) online. For one, what happens in the case of default? While defaults are a rare occurrence that happen on less than 2% of loans, they will still need to be settled on paper, in courts. There will need to be hybrid solutions that mirror some analog workflows. But dealing with legacy processes for a small minority of cases in order to make the majority of cases faster, cheaper, more efficient, and more composable is a feature, not a bug."
Surprised you are not more bullish on web3 social. IMO that will be the ultimate catalyst. As Creators become the new Movie Stars, they are going to want a protocol that gives them a favorable monetization structure, that even regular Users of platforms can get a piece of. Flips the “users are the product” narrative in favor of collective ownership and incentives participation, increasing network effects. I just wrote an article on this if you click my face. Love the article tho P
Problem #1
Still don't see how an NFT can grant ownership of anything real in even the digital world, let alone the physical one. To own something means to have control over it. If the NFT merely holds a pointer to the thing you own and what lives behind that pointer is not under your control then you do not own it full stop.
Problem #2
The "world wide web" (forget version numbers) was about quickening the dissemination of information. "Information wants to be free" was the promise. The lie was that while information may "want" to be free, the substrate in which that information is created, modified and persisted most definitely does not "want" to be free. We can argue economic angels fitting on heads of pins but the true problem here lies with the laws of thermodynamics that govern our universe.
Web3 on the other hand seems to be built on a foundation of ownership and monetization. Perhaps this can be seen as a nod to the fact that the utopian vision of web 1.0 was impractical?
But without a way to store immense volumes of information directly in a blockchain I fail to see how web3 can really do anything useful to justify being associated with web 1/2 technologies?
It is uncertain whether web3 will justify the hype surrounding it. Several factors, including technological development, regulatory environment, user adoption, industry collaboration, and real-world use cases, will determine its success. It is important to remain cautious and observe how web3 evolves over time.
To know more - https://dappfort.com/
The first problem is that owning an NFT does not necessarily grant control over the underlying digital or physical asset, rendering the concept of ownership incomplete. The second problem is that Web3 appears to prioritize ownership and monetization over the free dissemination of information that was promised by the earlier versions of the internet.
https://blocktechbrew.com/web3-development-company/
There are many of us in #DeSci.
Citing only the most centralized, funded or aligned with a16z keeps the rest of us unsung.
At FrontierDAO we are committed to fusion energy and the mitigation of climate change usin
DAO tooling and Web3 integration. Whitepaper is clickable at frontierdao.xyz
And my thesis on DAOs & Science from 2021 is here, published as a NFT on Mirror.
Why Science, Why Blockchain, Why a DAO Now? https://mirror.xyz/0x4A35674727c44cf4375d80C6171281Ba2f764213
The #DeSci movement is global. In fact, it started globally before Silicon Valley and their reps started paying any attention.
We also have a science publishing platform FrontierRegistry. We minted the deck as a NFT on Opensea.io / search FrontierRegistry back in February after floating it around VCs and developer grants for 6 months. Happy to continue the conversation!
- A Fan Of Your Writing @FrontierDAO (Paige)
There are so many cool projects that sometimes it's hard to make mental order and list them all. Great job in doing that, and thanks for highlighting all the references, they all seem foundational essays!
For protecting wallet info using zk-proofs, also see https://www.sismo.io/
In Response to "When crypto touches RWA – when small business owners can source cheaper capital, when homeowners can get more competitive home equity loans, and when users can seamlessly own a piece of the products they use – regulators will be motivated to find solutions that protect people without restricting access.
As Zach Weinberg highlighted in our debate on DeFi and housing, there’s a lot to figure out to bring real world assets (RWA) online. For one, what happens in the case of default? While defaults are a rare occurrence that happen on less than 2% of loans, they will still need to be settled on paper, in courts. There will need to be hybrid solutions that mirror some analog workflows. But dealing with legacy processes for a small minority of cases in order to make the majority of cases faster, cheaper, more efficient, and more composable is a feature, not a bug."
Check out baconcoin.com
Puts US Residential real estate onto the blockchain with stablecoin HOME and governance token BACON. Great discussions happening on discord
We should use Web3 to govern.
We could fix everything by fixing governmental corruption and regulatory capture. Let's use Web 3 for this noble cause:
https://joshketry.substack.com/p/do-we-need-to-re-infiltrate-our-own