evan.sui@EvanWeb3
Part 1. Why now?
Because it's time to rethink control and trust.
Max trust deficit. Google "trust in institutions" and "trust in big businesses". The headlines all paint the same picture - consumer trust in these institutions is at an all-time low.
Max centralization. The power of the internet is in the hands of a few trillion-dollar businesses. Every decision they make has a massive impact on consumers. I am never one to make the "big tech is evil" argument. That's lazy thinking. But their businesses leverage their customers' assets/data. A business model of lock-in and having control of consumer data inevitably leads to conflicts between doing good for consumers and doing good for business.
What does this mean? This means consumers have a desire to be in control - in control of their data, their assets, and their identities. They want to reduce their dependence on others. It also means individuals want to be more than cogs in big machines. There are more self-entrepreneurs than ever - content producers, creators, influencers, etc.
It's about control. Consumers demand control, not just their data, but also their identities. Brands are recognizing the opportunity, which leads to more collab more bespoke goods. Builders want control of their individual brands, how their goods are consumed and resold.
Big platforms are often marketplaces of sorts, e.g. content for likes, following, apps, pics for $$$. They provide a number of valuable functions - discovery, coordination, facilitating value exchanges. Or they are like banks, trusted to take care of consumer assets that are otherwise inconvenient to keep safe. They have power because they provide centralized trust, and in return, they are given custody of consumer data/assets, at scale.
It's now possible to move away from the centralized trust business model. Developers can utilize decentralized infrastructure to provide trust. Trust is provided by software that facilitates coordination and value exchanges. Software that runs on infrastructure that is run, not by one, but by many with shared interests. This is the decentralized application paradigm shift. The timing is right because we are at max centralization and max trust deficit.
And the technology is ready. We just have to Think Beyond. That's part two.