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Web3: Future Friendly Tech & Dope Sh*t
Greetings, fellow humans! There are a couple of things you might’ve noticed if you’ve spent any time in the tech and finance spaces over the past decade:
Firstly, everyone is mad at Google/Facebook/TikTok for hoarding our data. Secondly, a good chunk of folks are annoyed with their governments for debasing local currencies.
But fear not, my dear humans, as Web3 & crypto technology are well geared to solve these problems.
But why isn’t everyone rushing to enter the space? Well, let’s face it, the pain created by currency debasement and data-hungry tech companies isn’t pronounced enough for most people to make the jump. And honestly, I hope it never gets to that point. A world where the use of behavioural data is noticeably impacting our daily lives in a negative way? Where hyperinflation is draining the value of our pound sterling in real-time? No, thank you.
So, how can Web3 & crypto tech see mass adoption without first seeing these ‘worst case scenarios’ realised? The technical framework constructed to answer that question is as follows:
People need to be able to ‘do super dope sh*t, easily’ with Web3 technology.
So, what does that look like, and how do we get there? Well, my dear humans, there’s a roadmap, and it’s made up of three parts:
- EIP-4337
- Web3 Social
- Web3 Gaming
So, let’s get into it.
EIP-4337 – Don’t let the jargon-y name fool you, this ‘Ethereum Improvement Proposal’ aims to make the Web3 experience WAY simpler. Basically, it’s an update that will bring the following features to Ethereum wallets:
- Sign up with an email or even just Face/TouchID. (No more 12-24 word seed phrases. Just click ‘sign up’ → create an account w FaceID → you’re in!).
- Automated payments. (Pay folks on a recurring schedule, which opens the door for set n’ forget crypto payroll and subscriptions).
- 2-Factor Authentication for payments. (Has someone hacked your wallet? They won’t be able to move any of your crypto without having physical access to your phone).
Essentially, creating an ETH wallet will be as easy as unlocking your phone, payment automation will reduce user friction, and hacking will become WAY harder.
“Ok, that covers the ‘doing things easily’ part of the puzzle…but what’s this ‘super dope sh*t’ you speak of?”
Web3 Social – Picture this: there’s a new Web3 social app that’s blowing up. You go to the app-store, download it, click ‘sign up’, and FaceID authentication automatically creates you an account. You mess around on the app, start building a following, making friends, creating content, etc., and months go by. But damn! All of a sudden, there’s a newer/cooler Web3 social app making the rounds. Do you jump ship and start from scratch on the new platform? Or stay put?
Here’s the kicker: in Web3, you don’t have to make that decision. Any following you build on one Web3 social app follows you to the next. (Same with your content!) It feels like witchcraft at first glance, but think about it:
Instagram, Twitter, TikTok, Facebook, YouTube…they’re all just different configurations of video, image, and text. Web3 social protocols, like ‘Lens,’ let builders combine/compose those three pillars of content in different ways, using a universal and interchangeable ‘rule set.’
The result for the end user being: when a new app pops up, they can take everything with them (their usernames, followings, and content).
Now, let’s talk Web3 gaming. It’s simple, really. You get to play the same games you know and love, but the digital items you collect are represented as snazzy tradable NFTs.
Imagine being the first in the world to complete a mission or discover an Easter egg in a game, and being rewarded with a one-of-a-kind NFT with special traits and functions. You can keep it as a prized possession or sell it on the secondary market.
Sure, most Web3 games are somewhat basic right now, but surely once a kick-ass AAA-rated game that uses blockchain technology comes out, people won’t be going back to their basic games.
Web3 has the potential to revolutionise social media and gaming as we know it. With Web3, users can take everything with them when a new app pops up, from their usernames to their content. No more starting from scratch every time you join a new platform, hooray!
All in all, Web3 is shaping up to be a game-changer (pun intended). Stay tuned for more really dope sh*t coming your way! ✌️