In a previous thought I shared what I believed was the best way to take advantage of both Web 2 and Web 3 and how to properly anticipate the steps to leverage the future of the internet today. I’d suggest reading that thought before continuing here if you haven’t already. But here I think we begin to talk about the steps. The steps to get us from where we are to where we’re going.
The importance of transition
The values of Web 3 are wrapped up in several core concepts, not the least of which involve the power of personal data. I’ve written about my thoughts on what the future of modern software will look like previously and specifically how they relate to the concept of the data economy and who should own and control a specific individual’s data (spoiler: it’s the individual). But as I shared previously this is not something which happens overnight - a transition path is necessary. Below is how I believe Step 1 in that transition happens.
I firmly believe an individual should own their personal data. They should be in full control of who has access to view, and to use that data and ultimately they should be able to profit from their personal data (rather than siloed data held by large corporations).
The data ownership dilemma
But how does one go about shifting this data ownership in a world where multi-billion dollar corporations have built their empires on their consolidation and control of other’s data. This is the hardest question to answer and partly the reason why I believe we haven’t see Web 3 and the values of personal data begin to truly gain widespread adoption. I also believe there’s a solution to this dilemma.
This is what I’m referring to as Step 1. There are a number of important steps to be taken in this transition process and I’m going to endeavor to walk you through how I believe each of those steps will play a part in this important and world-changing transformation. But let’s take things one step at a time.
Step 1: Something New & Shiny
If there’s one thing that technology has demonstrated it is the deep and undying love we all share for new and shiny “toys”. We love to see and hopefully own the new version of the latest gadget (who saw the recent Google Pixel event?) This isn’t unique to hardware though, that’s right it’s more than just notches in phone screens that excite us! We do the same thing with software. We’re all eager to see the latest version and each new release (are those corners rounded?) for the software we use and love. We’re drawn to the new and the shiny. Technology has only exaggerated those feelings and truthfully played on them to sell more “stuff.”
Step back first.
Now, you’re probably already starting to see how I’m going to attempt to draw things together and make some correlations between our love for the new and the shiny with the transition path for Web 3. But before I do maybe you’d like to get a general overview for what I have in mind and what I’m involved in building?
I promise we’ll return to Step 1. There’s a clear plan for how we’re going to get there but first, let’s step back and take a look at the overall map. You know, kinda like when you enter your GPS destination and before you get on the road and take the first turn you are presented with an overview of the journey? In this way you have a vague understanding of where you are, where you’re going and how you’ll get there (roughly). In similar fashion, let’s take a quick step back and get an overview of the entire journey.