The system we have today to create, consume, and transact value is neither fair nor efficient.
Creators often rely on popular Web2 social media platforms to deliver and monetize their value, yet the control, storage, and processing of user data rest predominantly with technology giants such as Google, Amazon, and Microsoft. Financial transactions involve the participation of intermediaries like Visa, MasterCard, and centralized banks.
The concentration of power in the hands of a few fragmented service providers creates bottlenecks and points of vulnerability in the value-exchange chain, making it prone to censorship, exclusion, and manipulation.
Web3 technology allows greater control for users on digital value, allowing them create and own content, transact freely, and build decentralized applications. However, most current Web3 solutions fail to achieve traction and mass adoption as they have a steep learning curve and challenges to performance, scalability, and compliance.
The rationale behind building 3VO stems from several key factors and challenges in the current digital landscape in both Web2 and Web3 Solutions:
Decreasing trust in centralized institutions
One of the driving forces behind 3VO is the erosion of trust in centralized institutions. Whether it is traditional banks, centralized cryptocurrency exchanges, or social media platforms, decision-making power is concentrated in the hands of a select few, often acting in their own self-interest. This results in unfavorable outcomes for users, undermining trust and control over personal information. This lack of trust has created a need for alternative solutions that empower individuals to have greater control over their assets and transactions.
Expensive and inefficient value exchange
Value creators rarely exceed 50% monetization of the value they deliver. Monopoly of tech giants and presence of multiple intermediaries resulting in high monetization fees and inefficiencies. 3VO aims to address this issue by introducing decentralization of value, reducing or eliminating the need for intermediaries, and enabling more direct and cost-effective value exchange between parties.
Limited customization
On current Web2 platforms, creator are forced to deliver value and interact with their audience on per-determined user experiences. While this approach present consistency in design, it limits the way digital value is presented and consumed. 3VO wants creators to deliver their value the way they want by transforming social media pages into interactive experiences, presented in a form of a customizable Dapp.
Censorship
Censorship represents another critical challenge. Cancel culture and the suppression of opinions and voices make value exchange exclusive and authoritarian. This includes complete de-platforming of individuals or down-ranking their content in algorithms, impeding fair competition and equal opportunities. 3VO deals with censorship by including user in deciding on community guidelines and moderation policies via DAO governance.
Fragmentation of service providers
Creators and their consumers rely on multiple platforms to discover, create and transact value that are often unconnected. This creates a non-consistent and fragmented experience. 3VO wants to bring all the tools a value-creator needs to deliver directly to consumers, under one unified permissionless ecosystem.
Ownership and custody of digital assets
Given the erosion of trust in centralized institutions, there is a growing need for individuals to have more control and custody over their assets. Ownership of data is at stake. When individuals share their data on Web2 platforms, they often surrender some or full rights to the ownership of that data. Despite privacy policies and disclaimers, individuals may forfeit control over their data, compromising their ownership rights. 3VO recognizes this need and aims to provide a platform that enables a self-custody option, allowing users to securely own and manage their digital assets, free from the reliance on centralized intermediaries and custodians.
Extensive digital bureaucracy
The need to register and provide personal information across numerous platforms and services has resulted in a fragmented and time-consuming process. This issue hampers user experience and adds unnecessary complexity to digital interactions. Extensive digital bureaucracy poses hurdles for individuals seeking to access and utilize digital services. The requirement to repeatedly provide personal information and navigate through various registration processes can be frustrating and time-consuming. Additionally, the sharing of personal data across multiple platforms raises concerns about privacy and security, as users often have limited visibility into how their data is being used and protected.
Complex Web3 solutions
The current state of Web3 solutions is often characterized by fragmentation and complexity, making it challenging for mainstream adoption. Most Web3 solutions are built for developers rather than average users. 3VO acknowledges this issue and aims to bridge the gap between the familiar Web2 interface and the powerful capabilities of Web3, providing a user-friendly experience that simplifies the onboarding process for individuals and businesses.
Security risks
The issue of security arises due to centralized storage of data in data centers and servers. While backups may exist, the risk of data breaches and loss remains significant. Centralized solutions inherently expose personal information to higher risks compared to alternative approaches.
Lack of easy tokenization
There is no platform that can directly tokenize value conveyed in monetary terms and at the same time enables instant access and transferability. 3VO recognizes this gap and seeks to provide a solution that allows users to tokenize their assets, representing them digitally and facilitating instant access and transferability.
