We discuss Web 3.0 and all the developments that could lead to a new way the world interacts. A big part of this is cryptocurrency which will allow for a different distribution system of money as compared to what we currently have.
At issue is something a bit larger. When we step back, we can see where things are heading.
We presently operate in two worlds: physical and digital. As we go throughout our day, the world around us looks similar to how it did years ago. While the technology around us changed, much of what we encounter is similar. Our physical surroundings operate the same way they always did.
The change comes in the fact that our digitized world has been progressing for decades. Going "online" is taking on a different meaning every decade or so. With mobile phones, people are always "logged on". The next step is going to see the Internet become ubiquitous. Eventually, it will be like electricity, always there.
One of the most heavily discussed topics is virtual reality. This technology certainly has the potential to be a game changer. The opportunities that will arise if this ever reaches the point of mass affordability will make people's head spin.
Because of this, the entire sector gets a lot of attention.
What is overlooked is the concept of augmented reality. This received the biggest hype back when Google introduced Google Glass. Unfortunately, for the company and the technology in general, it flopped.
This was one of those instances where the technology got ahead of itself. Simply, the world was not ready on a number of different levels.
One of the biggest problems with a technology of this type is the computational power that is required. Stand alone GPUs do not pack the punch required to handle the enormous data load that comes with processing the different layers.
This is where the advancement of cloud and, the next wave, blockchain could assist. We are getting familiar with the idea of shared processing to increase the total output. Being able to tap into greater power than what is present on a PC or server is the core of cloud technology. Many applications are run in the cloud but could never be operated locally. There simply is not the available power.
Augmented Reality is going to enable us to create many layers on top of our physical reality. This will affect everything from driving to medicine. Real time, in the moment, data will be constantly available. Filters will make it such that we are going to get what we need in the precise moment.
This is all part of the Spatial Web which is personal to each of us. Multiple layers of information are going to be overlaid providing each of us with an interactive experience that far exceeds what we have today.
At the heart of all of this is the convergence of a number of different technologies. Like most things discussed these days, AI is part of the process. The advancements in the capabilities of algorithms and other software programs means the computers are assuming a larger role. This is necessary to filter through all the information that we are generating.
Another major piece is the sensor technology. Creating data by our typing and movements around the web is too slow. For a truly immersive experience, the entire world needs sensors. It is how real time, up to the moment conditions are uncovered. Data that is 10 minutes old is passe.
When putting all this together, the data structure is very important. Blockchain offers a number of different possibilities that did not exist before.
As mentioned, like cloud, blockchain taps into more resources than one has available in-house. What present systems do not offer is the decentralization that is required to handle information that is this vital. We already see how untrustworthy the mega technology companies are with data. As we immerse ourselves in this, the need for an alternative only increases.
Ultimately, we end up with something like this.
Source: PHD Ventures
Otoy is one company that is working on part of the solution. Through its Render Network, it seeks to provide the processing required to make Augmented Reality a part of our lives.
Built on Ethereum, it uses the token based system to democratize the process while offering a solution that is decentralized. This allows anyone to build upon the network, hopefully sparking a wave of innovation.
The reference to this is merely for illustration purposes and not an endorsement for the project nor the token itself.
Our two worlds are merging and rapidly. One, the physical world is 3D while our digital world, for the most part, is still 2D. This is changing. Advancements in computing are going to eliminate the need for screens in our digital realm. Instead, we are going to have overlays upon our physical reality that provides us with information that we require on the spot.
Web 3.0 is a lot more than just tokens and getting rewards for particular activities. It is important to step back once in a while and see the bigger picture. This is a paradigm shift that alters how we interact with the world around us. Information and data is not something we are going to have to search for. This moves means it is available to us the instant we need it.
Cryptocurrency gets a lot of attention but it is crucial to understand it all in the context of what is taking place. This is just one piece of a much larger pie. Web 3.0 is truly going to bring Sci-Fi into our daily lives. For this reason, expect the development time to take a while. This certainly is not an overnight process.
We are going to see major changes over the next decade. The early stages means we need to bring some imagination to the table. Looking at things based upon our knowledge of the world around us as it is today is useless in this venture. Things are simply changing too quickly and one such a large scale.
Those who are able to see the potentials as they are being created will gain an understanding of what is taking place. The key, I found, is to look a couple years down the road. Concentrating upon what is here right now is a waste simply because there are people who are already two or three steps passed that.
It is akin to trying to fix a particular page in a novel only to realize a week later someone changed out the entire book.
Cryptocurrency is not going away nor it is going to be stopped. Those who are affected by this stand the same chance as the Postal Service did at stopping email. It is not going to happen. That said, keep in mind this is just one application of a larger scale move that is being developed.
Web 3.0 is going to radically alter the world as we know it. This is something to get very excited about.
And just think, we are right in the middle of part of the shift.
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