14 lines
3.3 KiB
JSON
14 lines
3.3 KiB
JSON
{
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"HubID": "2135",
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"Date": "1/24/2023",
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"HubTags": [
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"External Platform Posts"
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],
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"Contacts": "",
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"Companies": "",
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"File": "",
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"Image": "",
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"Summary": "My take on #web3",
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"Notes": "<p>My take on #web3</p><p>What is Web3?</p><p>* Users control their personal information and how it is shared. </p><p>* Financialization of all assets (also called the #tokenization of everything) that are accessible by users of Web3 (I define financialization here as using web3 protocols to create a representation of any asset so that it can be easily used in a transaction). </p><p>* Internet users own and control assets, whether digital or IRL or anything that has been financialized onto web3, and all the data about themselves and the actions they do. </p><p>* Ownership records are public (but they are anonymized so cannot tie to the owner’s identity).</p><p>* Records are permanent and unchangeable and cannot be deleted.</p><p>Benefits</p><p>* Data is more secure and #decentralized </p><p>* #decentralization means less likely for data to be taken down or compromised in some way</p><p>* Users can prove who they are and their data without having to share it, minimizing theft of personal information, and can control which information is shared and to whom. </p><p>* Assets, whether IRL or digital (which can include products, services, experiences, claim on cash flows) are represented online making it easier to:</p><p>** buy them</p><p>** sell them</p><p>** borrow them</p><p>** lend them out</p><p>** shared ownership with others</p><p>** fractional ownership with others</p><p>** token ownership (Instead of owning a product, using a service or having an experience, consumers now can own, share, and trade the images of items, experiences, and services - paired up with a proof of ownership)</p><p>** borrow against their value</p><p>** lend out against their value</p><p>** earn #royalties from</p><p>** insure them</p><p>** prove ownership of</p><p>** guard against counterfeits</p><p>** get specific benefits as an owner from another user or entity</p><p>prove an action performed</p><p>** help describe the owner, who they are, what they do, what they like (based on what they do and what they own). </p><p>can be dynamic, and not static, and accumulate features, qualities, and/or histories that change their value, utility or their story, all of which can be used as signaling to which others (people, technology apps, systems, metaverses) react.</p><p>** Assets are owned by the user and not custodied by a third party (like a bank), which means that the custodian owns the assets and the user just has an IOU on the asset, which means that if the custodian fails financially, the user may not get back their assets because they are simply a creditor with an IUO; and which means there is no custodian who can freeze use of the user’s assets.</p><p>Assets can be searched so we know which accounts/wallets own which assets (but not who owns them because wallets are anonymous represented by public keys only), which can make it easier for users to find like owners and communities, and companies to find potential customers based on the assets in a wallet/account.</p><p>Drawbacks</p><p>** Since users are in control of their data, it is their responsibility to manage and secure it.</p>"
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}
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