A number of converging trends have accelerated the idea of blockchain.Covid has forced us to wrap ourselves more in our digital personas (Facebook, Zoom, Amazon, etc.) and managing them is time consuming and tedious.At the same time, we are seeing a decreasing level of trust in institutions and their ability to service and protect us.We trust less and less our centralized systems that they can take care of us and what we need.The rise of even more self-determinism (gig economy, moving jobs, life balance) they feed on each other to drive a greater sense of self inside everything we do and are represented by.
Web3.0 is not just an incremental shift in our virtual experiences, it is a giant leap.
Web1.0 was a basic idea about reading and accessing information online.Web2,0 was about expressing ourselves online.Web 3.0 is about the fluid management of all the things we do and in ten years’ time.Web3.0, blockchain will drive each of us to have a digital ID as our prime ID.
This means our various identifications on social platforms will be fluid.The social media platform will have no control as you move your ID, your private blockchain wallet around from place to place.
This could be the end of the platform age, Web 2.0.See my deeper dive on this published on Forbes here.
The conversations today is less about the social media platforms dominating our personal expressions but the shift away from the platform economy that has dominated Web.2.0 to the open source self-identification economy that will dominate the next ten years.
This stretches across financial and healthcare sectors and even how governments sustain sovereign control over the value of near anything as each of us becomes our own market (physical and virtual) that is protected by our own digital wallet and the power of blockchain technologies.
This will drive a whole new sense of worth, identification, privacy and completely restructure what assets we own, trade and borrow against.If crypto currency is one of the first deployments for blockchain it maybe less significant in ten years’ time.Blockchain will allow us to take our own agency back.Below are four future comings that we can look forward to:
MORE FOR YOU 5 Cognitive Biases Blocking Your Success Preparing To Go Public: An Overview Of The IPO Process Immigrants Hope Registry Saves Immigration Bill · Social media platforms become obsolete as blockchain enables the complete movement of who you are ( in part or in whole ) from one environment to the other.The business models that have reinforced the idea of platforms will be severely eroded by the open source constructs of blockchain,
· Financial institutes will move from monolithic paper based systems to self deterministic back offices where the customer owns their financial documentation in a blockchain process.In effect we will have tokenized assets through blockchain.
Think of NFT’s for your mortgage papers.
· Patients will own our own records for all healthcare and we can each decide how to sell what portions of our data with or without our digital ID’s.
· Most of the world has access to a cell phone, but billions of people do not have access to banking.The idea of blockchain should enable near everybody to have access to banking.
Blockchain is not just a new currency model.It is a new way of thinking about ones self in a digital first world.
Think about the ability to manage, own and feel secure about every piece of data their exists around you.Imagine the ability to have the ability to only have to deliver fractional pieces of data on you for identification purposes or being able to sell specific and often small fractions of data on you, that you own.
Tim Tully is the CEO of Zelcore, the world’s first gateway for Web3.Offering the easiest way to navigate all major exchanges and blockchain protocols, Zelcore empowers people to find quickly, manage, trade, and truly own their digital assets and information.
Tim has over three decades of experience working in senior leadership roles at some of the world’s largest financial institutions, including T.Rowe Price, BNY Mellon Wealth Management, and State Street.
Michael Gale.
