Introduction
Web3, the decentralized version of the internet, has been gaining a lot of attention lately due to its potential to disrupt traditional business models. However, some people are still focused on the token prices and market capitalization, instead of the real-world problems that Web3 can solve.
To shed some light on the topic, we spoke with Allen Day, Developer Advocate at Google Cloud, who has been closely following the Web3 space.
Solving Business Problems with Web3
According to Day, Web3 can solve many business problems by providing a more secure, transparent, and efficient way to do business. For example, blockchain technology, which is a key component of Web3, can be used for supply chain management, identity verification, and even voting.
Day also highlighted the potential of Web3 to empower individuals and communities by giving them more control over their data and online interactions. This is in stark contrast to the current centralized model, where big tech companies have a monopoly on user data and can use it for their own profit.
Token Prices: Not the Main Focus
When asked about the obsession with token prices in the Web3 space, Day emphasized that it’s important to focus on the real-world problems that Web3 can solve, instead of just the token prices.
He pointed out that token prices are just a small part of the Web3 ecosystem and that there are many other interesting projects and use cases that are not directly tied to tokens. He also mentioned that token prices are highly volatile and can be influenced by many factors, including hype, speculation, and market sentiment.
The Future of Web3
Day believes that Web3 has the potential to revolutionize many industries, including finance, healthcare, and e-commerce. However, he also acknowledged that there are still some challenges that need to be addressed, such as scalability, interoperability, and user adoption.
Despite these challenges, Day remains optimistic about the future of Web3 and encourages people to explore the space and contribute to its development.
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Conclusion
In conclusion, Web3 is not just about token prices and market capitalization. It’s about solving real-world problems and empowering individuals and communities. As the Web3 ecosystem continues to evolve, it’s important to focus on the potential of the technology and the impact it can have on society, rather than just the token prices.
