👋Introduction

The world is witnessing a tectonic shift in the way we perceive and transact value. In the era of digital transformation, the Internet has become a global platform for value exchange, connecting approximately 5.18 billion people worldwide. This profound shift in the economy has reshaped human interactions and the value attached to them.

What is Value?

Value is the worth, utility, or importance in comparison with something else. ​

It is a thing that is useful and desired, created by providing a product, service, or experience that meets a need or want. Value can be transactional such as money, it can be emotional such as making someone laugh, or social in the form of social credit used to determine authority within a certain community.

From Web1 into Web2

After the financial collapse in 2008, people started looking for alternatives. The financial system that the world used to exchange value had apparent flaws rooted in centralization of value production, processing and decision making. It was time for a change. Web2, which was in its infancy, presented an alternative. The technology flourished in the 2010's bringing a social experience

Web2 flourished in the 2010s. The Internet has transformed into a dynamic platform where individuals, businesses, and economies can thrive by harnessing the power of digital transactions and interactions. The rise of social platforms and the gig economy allowed more inclusion, onboarding billions of new users to the connected global system. This has resulted in a substantial share of GDP derived from online value, which amounts to an impressive $53.3 trillion.

The problems with Web2

While Web2 solved the problem of centralization of value production, it didn't solve centralization of decision making. Web2 companies remained heavily centralized and in control of the processing of value.

This created a set of problems. Creators often face hurdles such as intermediaries, limited monetization options, and a lack of direct control over their intellectual property.

The Web3 revolution

Web3 represents a paradigm shift in the Internet landscape, offering a more decentralized and user-centric approach compared to the current centralized systems dominated by social media platforms. While the majority of users are currently immersed in centralized systems, the potential of web3 remains untapped for most, with only a fraction exposed to the world of cryptocurrencies.

Web3 allows users to transact freely, own their digital identity, create and share content, and build their own decentralized applications.

Challenges with Web3?

Many blockchain projects are promising on-chain replacements current platforms. However, the results so far are modest given the limited adoption and insufficient infrastructure. Most of these projects remain with a niche user-base or use cases. There are several issues that need to be addressed before we can achieve web3 adoption: User-experience, scalability, performance, interoperability...

Unlocking the potential of Web3

Unlocking the potential of Web3 needs mass adoption on a global scale. This means the industry needs to bring products usable by the average consumer while solving the current challenges of web3.

3VO wants to shape the internet of value era by bringing easy and accessible Web3 tools to the masses, unlocking their full potential.