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Summary of Transcript:
In this episode of “Impact Theory”, the host discusses web3, which is believed to be the future of technology as a tectonic shift that will impact society as dramatically as the internet did. He explains that web1 was read-only, web2 was read and write, and web3 introduces ownership and participation, where digital items can be verified as owned by a given person through the blockchain technology. The ability to own the things that people create in the gaming world is becoming a crucial missing link. The host explains the significance of ownership, which allows for verification, beyond the pure status symbol of owning items. The interest in web3 is spiking now because the blockchain technology requires network adoption, and as adoption increases, the value of web3 increases, leading to an explosion of interest. He predicts that things will be almost unrecognizable from where they are now in three years. Follow the developers in the web3 space, as they have incredible energy and are building incredible things that generate revenue through incentives.
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Summary of Description:
This episode of Impact Theory discusses the growing popularity of web3, NFTs, and blockchain technology. The episode covers various topics related to web3 including defining what it is, why interest is spiking, and sources of information to learn more. The host also discusses the potential for web3 to contribute to a more balanced society and offers advice on how to get involved in this emerging field, emphasizing finding positive and uplifting people to collaborate with. Overall, the episode highlights the many opportunities and possibilities that web3 presents and encourages viewers to explore this new frontier.
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Web3: The Future of Blockchain Technology
Introduction
The current buzz around crypto, NFTs, and web3 is not just a passing fad. The truth is that most applications of web3 are still in their early stages. So, if you are wondering where to start, this article is for you.
What is Web3?
Web3 is the name given to the next generation of the internet. It is based on blockchain technology, which offers a more secure and transparent way of storing and sharing information. Unlike Web2, which is centralized, Web3 is decentralized, meaning it puts more power and control back into the hands of the users.
Why is Interest in Web3 Spiking?
The increasing interest in web3 can be attributed to several factors. Firstly, the COVID-19 pandemic has accelerated the shift towards online activities, leading to a surge in adoption of digital assets. Secondly, the rise of decentralized finance (DeFi) has created new opportunities for investors and developers. Finally, the concept of NFTs has opened up a whole new world of possibilities for digital creators and collectors.
What are 5 Essential Sources of Info about Web3?
With so much information out there, it can be difficult to know where to turn for reliable sources of information. Here are five essential sources to get started:
1. Twitter: Follow industry leaders and influencers for up-to-date news and insights.
2. Discord: Join various Discord channels to connect with like-minded individuals and participate in discussions.
3. Reddit: Subscribe to relevant subreddits for discussions and community support.
4. Medium: Read articles and blog posts from experts in the field.
5. Podcasts: Listen to podcasts that cover the latest news and trends in the web3 space.
Will Web3 Contribute to a More Balanced Society?
There is no doubt that web3 has the potential to create a more balanced society. With decentralized platforms, individuals can have more control over their own data, privacy, and financial resources. As expressed by some industry leaders, the blockchain is ushering in a whole new way of doing things that sidesteps the traditional systems and brokenness of the traditional financial systems.
What First Steps Should I Take to Get Involved?
The first step is to educate yourself. Attend webinars, join community groups, and read up on the latest trends and developments. Next, explore decentralized platforms and experiments, such as DeFi, NFTs, and DAOs. Finally, seek out positive, like-minded individuals who are passionate about the potential of web3.
Conclusion
The future of web3 is promising, with endless possibilities and opportunities for developers, investors, and creators. With the appropriate guidance and education, anyone can get involved in this revolutionary movement towards a more decentralized and balanced society.
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Source Description
This episode is sponsored by Athletic Greens. Go to https://athleticgreens.com/impacttheory and receive a FREE 1 year supply of Vitamin D AND 5 free travel packs with your first purchase!
If you’re watching this, you’ve probably noticed that the buzz around crypto, NFT’s, and Web3 has been steadily building.
But despite its growing popularity, the fact is that most applications of web3 are still in their early stages.
And with so many different potential applications for blockchain technology, it can be a bit overwhelming just trying to figure out where to start.
That’s why I’ve put together this episode of Impact Theory to answer some of the most common questions I get about the future of web3, how to get involved, where to find good sources of information, and much much more!
SHOW NOTES:
00:00 | Introduction
00:30 | How Do You Define Web3?
05:14 | Why is Interest in Web3 Spiking?
09:48 | What are 5 Essential Sources of Info about Web3?
14:12 | Will Web3 Contribute To a More Balanced Society?
26:26 | What First Steps Should I Take to Get Involved?
QUOTES:
“The thing that they don’t understand is hiding within that JPEG, or the real one is matrix code. And so based on that matrix code, I can actually read whether that’s the real one or not…and based on whether you have the real one or not, I can give you advantages.” [02:39]
“When I look at some of the infrastructure stuff that’s being put in place now, and I project out where we’re going to be in three years, it is going to be absolutely incredible, a deep integration with so many different aspects of your life.” [07:27]
“Not only is it boring to be around people that are negative, but it really I think is a bad look for the space. So find people that are wonderful, joyful, that are uplifting, that are trying to make this a better place to be, that want to see you succeed and do well.” [10:19]
“My hope is that the blockchain is really ushering in a whole new way for the fast movers, the builders, the creatives to come in and build a whole new way of doing things that is sidestepping the traditional systems and some of the brokenness of the traditional system, and hopefully making things such that we all have an equal playing field that we all have the same starting line.” [16:10]
“It’s really pretty extraordinary the number of different opportunities that web3 is creating. And this is why I’m so bullish on this long term. I really think that this creates a foundational shift. We are so early in this space and the amount of creativity, the amount of mind blowing things that are happening is extraordinary.” [29:08]
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