The technology space moves quickly. While most businesses have been somewhat slow to catch up to the current state of Web 2.0, there is a quickly accelerating hype train around new and ‘revolutionary’ ideas like Web 3.0.
There is a lot of FUD (fear, uncertainty, and doubt – for the uninitiated) and grifting in this area. Mostly by the slew of Twitter users trying to make a quick buck (or millions of bucks). This has made it almost impossible not to take notice of the hype around the Blockchain, especially with Cryptocurrencies and NFTs.
A single Tweet from Elon Musk, soaring a ‘virtual currency’ to create an abundance of new millionaires overnight, before crashing and burning…then bouncing back…then crashing again (you get the idea). This may raise a huge level of concern and lack of confidence around the whole concept, but the real deal here is the Blockchain.
Not only does the Blockchain offer new and radical ways of dealing with payments, but the same principle also helps us with reducing current security issues. It takes ownership of our data away from the centralized grips of Microsoft, Amazon, and Google.
The fat cats are unlikely to loosen their grip on Web 2.0 and will likely put up a fight for control. There is a reason to be keeping an eye on how this plays out.