Why is Web 3.0 so slow to develop? What is happening that is stalling things out?
There is a lot of discussion about the benefits of Web 3.0. Many cover this topic, espousing all the benefits as compared to the present state of the Internet. Since this medium is expanding, it is crucial that we develop a new structure.
Web 3.0 appears to provide that. By utilizing blockchain, along with other technological breakthroughs, we can see the design that is unfolding.
That said, the above questions remain valid. What is holding this back?
Here is what we will take a look at in this article.
Image generated by Ideogram
Web 3.0: A Change In Mindset
They say the hardest thing to change in the world is one's mind.
Web 3.0 is something so different that most do not realize how they still behave like it is Web 2.0. This is stunning since many have stated for years how they despise what takes place and how unfair it is. Digital platforms such as Google and Facebook made hundreds of billions of dollars of advertising. This was created by using the data (and traffic) generated by the user base.
In short, everyone puts in the effort and a select few tied to these companies benefit financially.
This is where Web 3.0 can be different. Look at the image above and notice the different. When Web 2.0, we had a read/write system. The next generation is going to allow ownership.
It is a concept that completely changes everything. However, it appears people are slow to embrace this idea. Why would this be?
While we can point to habits along with the power of the Big Tech, there is something more basic operating. Sadly, until a major shift takes place, nothing is going to happen.
We are not talking about development, the killer dApp, or anything of that nature. Instead, we are simply focused upon the mindset people have.
One does not have to dig too deep to find how most are basically enslaved. social media has done nothing but further this cause. The majority of the people simply are helpless. Give them an opportunity and they will pass it up.
Why?
Another old saying, "opportunity often comes disguised as work".
While this is true, again, I think we have something more fundamental going on.
Responsibility
The world seems to excel at the "blame game".
No matter what happens, it is always the fault of someone else. We see this throughout society, to the point where most are simply immature. People lack accountability and, if someone tries to place it on them, they deflect.
There is always an excuse.
We blame the economy. Government. Spouse. Politicians. Employers. Culture. History.
It doesn't matter what it is, as long as it is not us. If we can deflect the attention, we are safe. We are like children, trying to get mommy to look at our sibling.
Web 3.0 doesn't put up with this.
On Web 2.0, we can get away with it. The bulk of the financial benefits are taken by platforms because they take responsibility. The growth of the system, in all manners, is up to them. It is the company behind it that adds new features, adds more powerful algorithms, and pays for the operation.
Contrast that with the users who get a platform to use for free (at least on the surface). They show up, drop a few posts, comments, or videos, and then leave. Perhaps they will complain about something, usually from the list above, and move on.
Their time is monetized by the platform (corporation), causing our user to blame the company for stealing their data.
Basically, people do not take responsibility for what happens. We see this in Web 3.0 also. In fact, it is even more obvious there.
Web 3.0 Needs Owners
People claim that Web 3.0 needs more users.
Sadly, no matter how noble this is, it is incorrect. Web 3.0 is not about usage. Instead, it is about ownershp.
There is plenty of usage on Web 2.0. Why change if we are basically looking at a cheap replica of what already exists? No matter what the monetization structure, it isn't going to work. This is evident in the result.
What Web 3.0 needs is more owners. That is what is boils down to.
One owner is worth 20 users.
We need a group of people showing up who take responsibility for what is taking place. The idea of approaching each account as a business is crucial. When people are monetized, guess what, you are dealing with a business. It is not longer a hobby or recreational activity.
This goes one step further. Many are monetized on Web 2.0. With Web 3.0, we are looking at ownership.
As opposed to thinking about income, we need to consider the equity position. Whether we utilize the digital real estate concept or some other imagery, the make up is the same: take ownership.
Isn't it ironic how most want the financial benefits yet do not want the responsibility of taking ownership of anything? Is it any wonder why most struggle?
Web 3.0 is an opportunity. Even if one is not building a business, simply approaching one's activity as such makes a major difference.
We are dealing with network theory. Those who have stake in a particular network, no matter what the size, has an equity position. In other words, that person is suddenly an owner.
It is time people started to move into this role. Web 3.0 is a tremendous opportunity. However, it will not excel if everyone has a Web 2.0 mindset.
The Web 3.0 mindset has to be ownership.