We have gone through web 1.0, marked by unidirectional navigation, web 2.0 with democratic access and various forms of interaction and now web 3.0 promises to further transform the digital experience into the physical world – read metaverse.
promises to further transform the digital experience into the physical world – read metaverse.
These transformations have changed (and will still change!) drastically the technology market, considering the bubble of the 2000s, which marked the overvaluation of this means of communication and generated the false idea of the possibility of unlimited profits.
At the time, many companies wanted to ride the dot-com wave, but the world began to realize that the Internet was not a source of limitless earnings and the bubble burst.
The result: stock prices plummeted and the bankruptcy of many corporations was imminent.
Bringing it to the current context, we propose a reflection: there is a fine line between opportunities and opportunism that web 3.0 can unleash in terms of investments, and here we are talking about solid digital assets and non-solid digital assets.
Not everything is what it seems to be in Web 3.0!
In this article, BLOCKBR brings a discussion: what is opportunism and what is opportunity in web 3.0? And how should we deal with the dangers in the third wave of the Internet!
WHAT IS WEB 3.0?
Web 3.0 or third wave of the Internet is the most current phase of the great network and is characterized by being a decentralized ecosystem based on blockchain technology, which is the generator of one of the greatest technological revolutions of the last decades: cryptocurrencies.
Let’s talk about the main concepts of web 3.9.
DECENTRALIZATION OF CONTENT IN WEB 3.0
Currently, websites, blogs, social networks and their contents are hosted on servers controlled by companies that therefore own these digital assets, and this brings a lot of inconvenience to users and decentralization enthusiasts.
- A social network can take down a user because it owns the account and everything contained within it;
- The network can exercise content censorship, which causes a gray area regarding the subjectivity of criteria;
- Companies receive monetization for the visibility, interactions and advertising generated from user content.
In Web 3.0 content will be stored on blockchain, the encrypted networks that today host asset tokens and cryptocurrencies.
Control is electronic and from a large network of interconnected computers that make up the blockchain and use the network’s high-level data security protocols.
Ownership will now belong directly to the user, without the intermediation of permission or deletion.
MORE PRIVACY AND NO AUTHENTICATION
With decentralization, there is no longer the filling out of registration forms and access validations; each user will have individual access mechanisms, such as digital wallets, with their own access keys to each social media.
The user’s information will not be public and he will define what will be shared on the network.
MORE IMMERSIVE EXPERIENCE
Here we are talking about the revolution of the moment: the metaverse, which proposes to take users into environments that combine augmented reality, virtual reality, and cryptoeconomics, and which will be the model for users’ interaction with their social media.
WHAT ARE THE DANGERS OF WEB 3.0?
In an initial analysis, we can already see that placing absolute authority over content in the hands of the user can eliminate the obscurity regarding the criteria for content censorship.
On the other hand, we will have to deal with something equally (or more) worrying: the use of the net to propagate hate speech and persecution.
Another relevant aspect is the possible control of the blockchain: if one company takes control of 50% of it, we are back to centralization.
Finally, the infrastructure of the third wave of the web is based on blockchain and crypto-actives, among them the NFT – the non-fungible token in the financial asset market.
NFTs have become a true revolution in the way of trading unique assets, for which there is no other equal and therefore has a great valuation.
The tokenization technology of this type of digital asset, with more agility and security in the offer, especially in the metaverse, has amplified its importance for digital business.
However, a digital asset, in order to become an investment, needs to have guarantees, ballast, which must be clear and apparent. The non-fungible token, however, does not represent an investment asset, but a belonging asset.
Therefore, more than digital security and other positive points of NFT, one needs to study the potential for appreciation of the original asset because, unlike digital currencies, there is no demand and supply dynamic for such unique items.
HOW TO PROTECT YOURSELF ON WEB 3.0
As with every impactful new feature – and Web 3.0 is revolutionary in a big sense – due care needs to be taken during the maturation process while the watchdog bodies and user interest defense mechanisms are at work.
STUDY ABOUT THE MARKET
Be aware, for example, if what has aroused your investment interest is something real, something solid. It is necessary to minimally know the risks and characteristics of the digital asset before investing.
CHOOSE SAFE AND RELIABLE PARTNERSHIPS
When it comes to digital investments, the terrain for false offers is vast. Therefore, it is important to choose a solution, a company recognized in the industry, with credibility.
To avoid falling into a trap, besides studying the market, it is necessary to study the proposal well, as well as the reputation of the people behind it.
BE AWARE OF THE RISKS
Those who wish to pursue higher profitability inevitably need to accept a higher level of risk. Often these risks are hidden or require more effort to perceive them.
Therefore, paying attention to the details makes all the difference.
BEWARE OF THE PROMISE OF “MAGIC FORMULAS
Never invest in a hurry. Study hard all the conditions of the proposal, because deeper analyses can avoid setbacks later on.
KNOWLEDGE IS THE KEY
The digital asset market is dynamic, both technologically and in terms of products and services offered. Keeping up to date with what is new in the industry is an inherent condition in the field.
One can never be too careful when one’s eyes and desires turn to the financial market that Web 3.0 favors.
To prevent a new bubble from bursting, globally as well as individually, it is fundamental to ponder all the possible details and questions and not act on the impulsiveness of the moment.
This is indispensable to minimize damages, avoid irreversible losses, and, mainly, potentiate safe gains!
BLOCKBR Digital Assets
is a fintech that brings together technological innovation and digital knowledge to transform physical assets into digital assets, in the process of tokenizing assets.
The offer of tokenized physical and financial assets, both current and new, is democratic and decentralized, which makes investing safer, simpler and more efficient.
We enable, structure, issue and offer tokens on our platform and beyond. Be aware that tokens depend on feasibility and regulatory factors.
Do you want to tokenize your business or part of it? Do you have a business solution and does it make sense to issue your own token ?