In the first cycle of Talent Land 2024, Blockchain Revolution author Alex Tapscott, founder and CEO of NextBlock Global and Blockchain Research Institute, explained Web3 technology as revolution.
While it is true that an ecosystem sustains itself, humans will no longer be able to do so anytime soon, either due to incapacity or for other reasons such as security and protection, Tapscott explained. Web3 technology brings us ahead of the times and provides us with never-before-seen solutions to everyday problems.
Where do we go from here? Web3 aims towards inclusivity and standardization of technology
For Tapscott, we are in a privileged era where 4 technologies have been developed simultaneously. The first of these, according to Tapscott, is Blockchain, the network on which cryptocurrencies operate today. However, Blockchain technology allows two people to transact over the internet with security and confidence. Allowing you to trade any type of asset, whether conventional or modern such as NFTs or smart contracts.
Tapscott explained that the second technology will be Artificial Intelligence, which will allow humanity to face new paradigms in computing. Making it easier to compute calculations, solve larger-scale problems, and implement AI in workplaces. The third will be the Internet of Things, which will allow the interconnection of reality with fundamental information, objects that enable and facilitate life.
In fact, for Tapscott, the last point of note would be extended reality, which also includes augmented reality. Although the rise of technology occurred after the pandemic, it is a concept that has been more than 30 years in the making.
One of the significant points of this development is the creation of a joint dimension. These four points will no longer be part of virtual reality, but also of that reality that can be improved thanks to technology. This can range from new cultural phenomena, to more well-being for society.
The fusion of realities enhances the enrichment of experiences in areas such as entertainment, work and leisure, complementing them without replacing them. Clearly, the Web3 technology revolution influences those who have looked down on tokens. Under these predictions, it is only a matter of a few years before the Internet of Things (IoT) and artificial intelligence become more accessible and economical tools, facilitating their global adoption.
The adversities of development and how the ecosystem has responded
Why are there so many cryptocurrencies? In many ways, they can be explained in the same sense as local currencies. Unlike local currencies, digital assets also have an intrinsic value relationship, Tapscott explained. This means that they are not only used as a means of trade.
Getting to this point has not been easy. The Web3 ecosystem has had to fight against regulators, the FED, and even the government of China, which banned its use and mined it and even worsened. Thanks to its ability to carry information, value or entertainment, the content is much more prominent.
Any container can carry food, computers, furniture. A token is a digital container that can hold money, bonds, financial assets, or art. Even votes, which are a kind of asset.
In fact, assets, over time, have become more democratic and accessible. That is why nowadays, people have much easier to dispose of their assets and acquire new ones both with cryptocurrencies or tokens as well as with fiat money.