Very good talk and I like the fact that he focuses on various aspects of how the next-gen web should be and especially about ethics being built into the same. Also, how we should think carefully about what we are planning to build for web3.
today we are late 2021. The speech is 2018. Can somebody summarize which part of this vision has materialized? What has changed? Are we making progress or are we still confused on a higher level?
Exciting talk, I still have some questions about web3 after watching the video... It sounds like a key objective of web3 is to rid the world of rent-seeking companies, so how do all of the web3 products listed on that chart make money to operate? Or is every product in web3 supported by the free labor of software engineers on behalf of future generations, like open-source software projects operate today? In general I am confused about how things will be monetized in web3. How will servers be paid for? If you created a decentralized social media platform on web3, how would malicious users be removed ? Can a web3 product be sued? If anyone could offer insight on how this works that would be awesome because I am pretty confused 🙃
I am probably far from being qualified to answer this but ill give it a shot. You have made some assumptions that i don’t necessarily think are true. For the these intents i will use blockchain here with what the speaker is referring to as web3. Economic rents will likely still exist in the blockchain future. It will probably just happen via different mechanisms with different products and/or services. A way to profit with blockchain systems is merely to create value with the removal of the intermediary. This can be viewed as a way to collect economic rent in itself. By creating a more efficient system and if allowed to make it, you are creating value and therefore collecting the rents on that service. The second question is a bit more of a pickle. That is something we’ll have to wait and see. The dealing with malicious actors part can be dealt with various ways, via centralized powers or decentralized voting id assume. And as for the litigation of a blockchain platform, thats for chair gensler to answer.
in regards to your question about managing and monitoring and removal of bad actors from the space this can be done via dao like platforms that enable users to vote view some token or right given to users of protocol
@@fukpolitics Taking away the intermediary makes things cheaper, yes. But cheaper does not pay money. So the question remains, who, when not the intermediary will call for and distribute the money to those who are operating decentralised transactions? Will the intermediary remain in place and will he just switch his internal processings to decentralized ops-group for cost savings - but still keeping control? I mean, the intermediary is not just a cost factor. The intermediary is the authority that makes end-users pay for transactions. Who will ensure that decentralized operations is paid? and how?
@@realB12 are you familiar with the concept of smart contracts? it is at the core of the design of the so called decentralized web3. the assumption is, that the functional part of the intermediaries will be slowly replaced by (hopefully) well written rules, principals and boundaries, so yes, a form of automation if you will. The decentralized operations themselves will be paid by operating costs of the blockchain assumedly. you gotta read into the mechanics of that with each specific blockchain/entity.
and one more thing we call blockchain decentralized but I haven't seen anyone downloading tb's of bitcoin chain on his pc and using crypto people generally are just buying a wallet from a website which is centralized and storing the blockchain. correct me if i am wrong if your money is still deposited in centralized structure then what is the use of decentralization. I guess it just gives you a option to use to store the data in a decentralized manner.
Guys check out, ironically enough, The Web 3 Project. It's going to be both a DAO with an APY feature that can auto-compound every 3 seconds with an APY of 400,000%. For the next 2 weeks only, the APY has been temporarily increased to 1.6 billion! I'd suggest to check this project out and DYOR.
This was a great talk bravo! The most impressive thing is in the beginning the people in the room were taking there coats off and sitting down my man was like naaaaa im so cold this winter jacket stays on the ENTIRE time lol
All for it! But it’s so disruptive. What’s the plan for defeating the most powerful people, systems and government that will do everything they can to prevent it?
Great content, as always! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?
Great analysis, thank you! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
The internet wasn't opened up to the public in the 90s - but over a decade before that. And the web wasn't developed for military use, it was developed on top of the internet at CERN in Switzerland. Kinda ironic that you mixed this up, considering right after you say "people can't distinguish between web and internet".
You are slightly confused; he said (6:17) that the Internet was "primarily military and academic at first" exactly as it was, having started life as an academic project funded by DARPA, and that it "opened up for commercial use in the 90s," which was when the big commercial providers like AOL started business (look up "Eternal September" in Wikipedia). Only after these remarks about the Internet does he mention that "Web 1.0 came in" and starts talking about the Web, and then CERN comes in (and Sir Tim).
Great talk but I was expecting at least 1 example. For example, what happens when I buy a book on Amazon and how does Amazon verify that I bought this book? Is it all added to the blockchain? Also how does privacy is ensured? Say someone figure out the ID I'm using, how would they not have access to all my web footprint? Finally, one of the major issues with the blockchain is the energy required to maintain it at large scale. How does web3 scale while staying sustainable?
This vision primarily is about infrastructure. However, history has demonstrated, that invention of airplanes were followed by airports and invention of light-bulbs quite naturally by power-grids - not the other way round! Or in general terms: In a customer centric world we have learned: infrastructure follows application - not the other way round! So, is all the fuss and confusion about Web3 due to the fact, that we are building an infrastructure without having a clue about the applications it is going to serve? Shouldn't we become clear first, whether we are going for light-bulbs or airplanes before putting our shovels into the dirt?
The only thing I’ve seen that comes close to being web 3 is that social media blockchain called Hive. Everything else is VC web 3 as far as I see. But hey, the Ying and the yang right?
Current decentralised systems have many flaws and incredibly inefficient - this wave of the decentralisation attempt is not going to be the one that succeeds. Also there's nothing wrong with centralisation. The world used to be decentralised, we centralised it, now we want to decentralise it again. SSL certificate issuing is great example that centralisation works well and people can trust it. What problem are we actually solving with Web3? Why distribute huge amounts of data and computer processing using excessive energy when centralisation can also be trusted and has worked without issues for decades, in a much simpler and greener way.
This didn't explain anything at all. Still as confused as before what the hell is web3 and what is the point of it. Web 1.0 and Web 2.0 are very clear and easy to understand. Web3 seems to be just a bunch of high level concepts that don't mean anything and it's not clear at all why we need any of it. "You own your data". Great, but what does that even mean? "Verifiability". Great, but what does that ACTUALLY mean?
@@danpena344 So far, it seems that a more fitting word would be 'speculation.' That's all anyone talks about with any of this blockchain/crypto stuff: what crypto is going up or down at any given moment, when to trade one crypto for another, etc. It doesn't actually seem to be leading to radically new types of content.
The Powers That Be have figured out how to make digital currency work for them. What will prevent them from figuring out how to make this work for them?
Web3 has a multitude of applications! The life changing aspects of it are not limited solely to mega corporations like ZUCK and his gang though... it's for the average investor. Which is why I'm getting involved in the presale for OF (Oracle Finance) that is happening this month, keep an eye on their Discord / Twitter account to ensure you know the exact date they're ready to launch. A rebase token that provides web3 services and pays out staking rewards in stablecoins, THAT is easy passive income!
Here is my question about Web3. If any one wants to create a web3 application deploying it in Web3 in the form of smart contracts take about $5000 which is a lot. So if someone has a idea and wants to create a website regarding it he would prefer web2.0 therefore web2.0 wont be replaced by web3.0 ever. I have not worked in web3.0 but read about web3.0 and how much I have learned this is what i think.
Yes and no, they will have their place on the internet, drug selling, escorts, etc..they will be present publicly on the internet for the very first time. But, it will be far from criminal heaven.
Wow. Watching this now and seeing this presentation was done in 2018 blows my mind
Me too man, now i feel I'm late lol
Yaa
@@adrielamadi8585 giving you a like 2 years in the future
finding this 4 years later and this is still phenomenal.
I appreciate the strong awareness for the need for ethics being backed into these web 3 protocols.
I have never witnessed something as beautiful as "The declaration of independence of the Cyber Space". Thank for referencing that.
what that means?
Listened to it twice, gave me answers to questions I didn't even have. Love it!
This guy presented it well .. no doubt he nailed it.... love this person!!! Hope to hear 👂 more from him..
Presented it well hell he created ipfs.
Agree. Funny, when he came on, I thought: 'omg - this will get boring'. But he's doing a great job!
Please consider in the next video to switch from the speaker to the powerpoint when the speaker is explaining it.
Finally a good and grounded presentation of Web 3.0. Very well done.
This is really well put together its sad the lack of excitement in the room...
Well, they had to be quiet to pay close attention.. you know..
Great talk! I am now very interested in decentralized web. I hope I can be part of this movement as software engineer.
me too
Me too
Go for it!
😂😂😂
Juan Benet is a true visionary
Wow very exciting. Much needed, saviour of the oppressed.👍👍👍
Yess, lets do this
Juan Benet is in actuality from the future!
Very good talk and I like the fact that he focuses on various aspects of how the next-gen web should be and especially about ethics being built into the same. Also, how we should think carefully about what we are planning to build for web3.
This video was amazing! Commenting for the algo so I see more stuff like this :)
lol
What a great presentation! Looking forward to more stuff!
today we are late 2021. The speech is 2018.
Can somebody summarize which part of this vision has materialized? What has changed? Are we making progress or are we still confused on a higher level?
Great presentation. 💯👍 year 2022 of February. 4 years later. N your presentation makes a whole lot of sence.
thank you mr dude guy.
Exciting talk, I still have some questions about web3 after watching the video...
It sounds like a key objective of web3 is to rid the world of rent-seeking companies, so how do all of the web3 products listed on that chart make money to operate? Or is every product in web3 supported by the free labor of software engineers on behalf of future generations, like open-source software projects operate today? In general I am confused about how things will be monetized in web3. How will servers be paid for?
If you created a decentralized social media platform on web3, how would malicious users be removed ? Can a web3 product be sued?
If anyone could offer insight on how this works that would be awesome because I am pretty confused 🙃
I am probably far from being qualified to answer this but ill give it a shot. You have made some assumptions that i don’t necessarily think are true. For the these intents i will use blockchain here with what the speaker is referring to as web3.
Economic rents will likely still exist in the blockchain future. It will probably just happen via different mechanisms with different products and/or services. A way to profit with blockchain systems is merely to create value with the removal of the intermediary. This can be viewed as a way to collect economic rent in itself. By creating a more efficient system and if allowed to make it, you are creating value and therefore collecting the rents on that service.
The second question is a bit more of a pickle. That is something we’ll have to wait and see. The dealing with malicious actors part can be dealt with various ways, via centralized powers or decentralized voting id assume. And as for the litigation of a blockchain platform, thats for chair gensler to answer.
Automation
in regards to your question about managing and monitoring and removal of bad actors from the space this can be done via dao like platforms that enable users to vote view some token or right given to users of protocol
@@fukpolitics Taking away the intermediary makes things cheaper, yes. But cheaper does not pay money. So the question remains, who, when not the intermediary will call for and distribute the money to those who are operating decentralised transactions? Will the intermediary remain in place and will he just switch his internal processings to decentralized ops-group for cost savings - but still keeping control?
I mean, the intermediary is not just a cost factor. The intermediary is the authority that makes end-users pay for transactions. Who will ensure that decentralized operations is paid? and how?
@@realB12 are you familiar with the concept of smart contracts? it is at the core of the design of the so called decentralized web3. the assumption is, that the functional part of the intermediaries will be slowly replaced by (hopefully) well written rules, principals and boundaries, so yes, a form of automation if you will.
The decentralized operations themselves will be paid by operating costs of the blockchain assumedly. you gotta read into the mechanics of that with each specific blockchain/entity.
and one more thing we call blockchain decentralized but I haven't seen anyone downloading tb's of bitcoin chain on his pc and using crypto people generally are just buying a wallet from a website which is centralized and storing the blockchain. correct me if i am wrong if your money is still deposited in centralized structure then what is the use of decentralization. I guess it just gives you a option to use to store the data in a decentralized manner.
Guys check out, ironically enough, The Web 3 Project. It's going to be both a DAO with an APY feature that can auto-compound every 3 seconds with an APY of 400,000%. For the next 2 weeks only, the APY has been temporarily increased to 1.6 billion! I'd suggest to check this project out and DYOR.
16:00 Important observation / John Perry Barlow and the Declaration of Independence of Cyberspace. He was murdered, I believe, which is noteworthy.
he was not
Awesome talk. I want to be a part of building the new web!
Same
@@anaedwards6451 ohh
This was a great talk bravo! The most impressive thing is in the beginning the people in the room were taking there coats off and sitting down my man was like naaaaa im so cold this winter jacket stays on the ENTIRE time lol
All for it! But it’s so disruptive. What’s the plan for defeating the most powerful people, systems and government that will do everything they can to prevent it?
Fantastic lecture!
Amazing talk. Just wondering how monetisation and governance will work on web3?
Same question!
Thank you so much.
I hope this vision of the future of Internet and applications will success and it could be applied to other kind of organizations
Great content, as always! I have a quick question: I have a SafePal wallet with USDT, and I have the seed phrase. (behave today finger ski upon boy assault summer exhaust beauty stereo over). How should I go about transferring them to Binance?
Such a cool presenter! He did a great job :)
With great power comes great responsibility
Thank you!
Great analysis, thank you! Could you help me with something unrelated: I have a SafePal wallet with USDT, and I have the seed phrase. (air carpet target dish off jeans toilet sweet piano spoil fruit essay). How should I go about transferring them to Binance?
I am so amazed, web 3.0 existed in 2018
It just gained a critical mass right now hope it sustains.
awesome, where is the slide?
Fantastic presentation
If only everyone could listen to this.
underrated
Hi guys, the slides are not featured prominently, where can we get them?
The internet wasn't opened up to the public in the 90s - but over a decade before that. And the web wasn't developed for military use, it was developed on top of the internet at CERN in Switzerland. Kinda ironic that you mixed this up, considering right after you say "people can't distinguish between web and internet".
You are slightly confused; he said (6:17) that the Internet was "primarily military and academic at first" exactly as it was, having started life as an academic project funded by DARPA, and that it "opened up for commercial use in the 90s," which was when the big commercial providers like AOL started business (look up "Eternal September" in Wikipedia). Only after these remarks about the Internet does he mention that "Web 1.0 came in" and starts talking about the Web, and then CERN comes in (and Sir Tim).
Very exciting future!
Great video, thanks!
This verifiability applies only to content? or can be used for spotting deepfake also?
Great talk but I was expecting at least 1 example. For example, what happens when I buy a book on Amazon and how does Amazon verify that I bought this book? Is it all added to the blockchain?
Also how does privacy is ensured? Say someone figure out the ID I'm using, how would they not have access to all my web footprint?
Finally, one of the major issues with the blockchain is the energy required to maintain it at large scale. How does web3 scale while staying sustainable?
zero knowledge proofs!!!
@@whelan4545 what do you mean?
You don't buy from Amazon on web3.
@@rshnewton Not today, but that's an example of what web3 aims to provide
The audio is at a low level. Consider normalizing the audio file.
Change your headphone 🙂
Very well said.
Excellent speech thank you for the vid
Great talk
excellent presentation.
This vision primarily is about infrastructure. However, history has demonstrated, that invention of airplanes were followed by airports and invention of light-bulbs quite naturally by power-grids - not the other way round!
Or in general terms: In a customer centric world we have learned: infrastructure follows application - not the other way round!
So, is all the fuss and confusion about Web3 due to the fact, that we are building an infrastructure without having a clue about the applications it is going to serve? Shouldn't we become clear first, whether we are going for light-bulbs or airplanes before putting our shovels into the dirt?
See
the content is so great, if he can presented it better. Oh man you can change many people point of views
It’s been there since 2004 🤯 now I want to start understanding web 4.0 which should have been in now somewhere 😅
Would have been nice to see the charts better ;-)
The only thing I’ve seen that comes close to being web 3 is that social media blockchain called Hive. Everything else is VC web 3 as far as I see. But hey, the Ying and the yang right?
there was a web 2?
thanks brother
🕉
has anyone found the infographic juan refers to at Minute 23:04?
just wow
Nailed it!
SOO COOL!!! 👾💜
10:30, content that makes you angry keeps you engaged, hence increase in engagement across opengov this year due to controversial proposals
Current decentralised systems have many flaws and incredibly inefficient - this wave of the decentralisation attempt is not going to be the one that succeeds. Also there's nothing wrong with centralisation. The world used to be decentralised, we centralised it, now we want to decentralise it again. SSL certificate issuing is great example that centralisation works well and people can trust it. What problem are we actually solving with Web3? Why distribute huge amounts of data and computer processing using excessive energy when centralisation can also be trusted and has worked without issues for decades, in a much simpler and greener way.
무슨말인지 알아들을수가 없네
한글 자막좀 넣어주면 안되겠니??
This didn't explain anything at all. Still as confused as before what the hell is web3 and what is the point of it. Web 1.0 and Web 2.0 are very clear and easy to understand. Web3 seems to be just a bunch of high level concepts that don't mean anything and it's not clear at all why we need any of it. "You own your data". Great, but what does that even mean? "Verifiability". Great, but what does that ACTUALLY mean?
wtf it's almost 2022 and people still don't know what web 3.0 is
🔥🔥🔥🔥🔥
Explane Web 3 to us in 1 paragraph pls. !!!
in one word: decentralization
@@danpena344 So far, it seems that a more fitting word would be 'speculation.' That's all anyone talks about with any of this blockchain/crypto stuff: what crypto is going up or down at any given moment, when to trade one crypto for another, etc. It doesn't actually seem to be leading to radically new types of content.
@@purgatoriprytania5382 plenty of people working on making the decentralised web a reality. you're just looking at the wrong crowd :)
@19:45
The Powers That Be have figured out how to make digital currency work for them.
What will prevent them from figuring out how to make this work for them?
So did he mention the programming language of W3 . ***
Great info and good talk!
Web3 has a multitude of applications! The life changing aspects of it are not limited solely to mega corporations like ZUCK and his gang though... it's for the average investor. Which is why I'm getting involved in the presale for OF (Oracle Finance) that is happening this month, keep an eye on their Discord / Twitter account to ensure you know the exact date they're ready to launch. A rebase token that provides web3 services and pays out staking rewards in stablecoins, THAT is easy passive income!
not able to understand much, i guess need to see a lot more basic videos before this one.
The are of Acuario ♒️ a new world! After February 2022 it will very fast. The fifth dimension.
Just so amazing...getting some filecoin this bear market😉.
his company Protocol Labs is also promoted on the WEF Website so be careful who you follow...
wow!
👏👏👏
6:00 when he started discussing the web
Didn't know web 3 till 2021
for the algo
To my own understand WEB3 is the #Hive of today, Hive Blockchain is the future.
Good Luck Filecoin !
This gets my totties in a tinkle
"lock the web open"
interessant vanaf 6:00 (belangenrijk vanaf 09:30)
27:30 digging for gold
interesting how web 3.0 is supposed to be about decentralisation and yet he put eth/metamask into that bracket, whom rely on infura🤨
Infura?
Here is my question about Web3. If any one wants to create a web3 application deploying it in Web3 in the form of smart contracts take about $5000 which is a lot. So if someone has a idea and wants to create a website regarding it he would prefer web2.0 therefore web2.0 wont be replaced by web3.0 ever.
I have not worked in web3.0 but read about web3.0 and how much I have learned this is what i think.
It ain't Billy
nigga is that Toby? 3:09
DFINITY = Web3
1 #AirDao
It looks like he lost the audience, they are on phones, laptops, sleeping, he lost them, and many watching.
#humbl
Will it be beneficial for criminal activities as well
Yes and no, they will have their place on the internet, drug selling, escorts, etc..they will be present publicly on the internet for the very first time. But, it will be far from criminal heaven.
"What exactly is Web3?"
We are not shifting to decentralized web 3 systems. Ancestors 100 years ago? How about talk to a Gen-Xer. They grew up without the internet.
It will never happen ,and it will remain like cryptocurrency
We don't want web3