There’s a future where Web 3’s open markets, DAOs and micro-economies will unbundle governments, changing their role in society, localising economies to digital schelling points. They will prove to be orders of magnitudes more efficient, and as a result change how we organise the world around us. As our finances, assets and data are enhanced with self sovereign properties, the power imbalances enabled by centralised systems and violence-enforced governance will rebalance, ultimately creating a more fair global society. Currently, the world coordinates most of it’s value in closed-off, regulated environments with rent seeking points of friction. The nature of value transfer and relationships will become increasing more symbiotic, with a focus on opt-in contracts.
Ethereum and the world of Web 3 has enabled us to coordinate in a new internet of open value. This will permeate all aspects of our lives where we create or transact value. In the year 2035, our physical, local communities will be comprised of communally-run, revenue generating DAOs. Individuals will be able to invest and participate in the governance of their local infrastructure and community businesses. Universities and educational institutions will be disrupted and replaced by communally-owned, for-profit DAOs. The next generation will grow up transacting in cryptocurrencies and tokens. DApps and new, open means of global coordination will enable entrepreneurship to transcend geography, markets and demographics. Digital collectibles will all exist as some form of NFT on open value transfer protocols and they will be passed down through generations. Web 3 will enable the ultimate MMO RPG that transcends entertainment or gaming, as a natural extension of everyday life, consuming the world. Not only will individuals be able to make a living in these digital ecosystems will provide new economic opportunities, reshape dating and the family unit, and completely revolutionise education. Many future companies will be formed as DAOs, with flat hierarchies and equal participation. Our lives will be gamified to replicate the ‘Dungeons and Dragons’ experience of quests, character sheets, guilds and raids. The future of work will revolve around these new self sovereign playing fields of value and open markets.
We have barely begun to scratch the surface of how the world 10 years from now will reflect this new paradigm of Web 3. And just like how Diffie and Hellman predicted it in “New directions in cryptography“ (1976)
“We stand today on the brink of a revolution in cryptography“
The internet will be stormed by Web 3, we ourselves today are standing on the verge of cryptoanarchy.
Rise! It will do so. Rise! We will do so.
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From: [email protected] (Peter 'pet3rpan')
Subject: The Web 3.0 Manifesto
Date: Monday, 2nd Dec 2019
Title: The Web 3.0 Manifesto
Edits: Drew Harding
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