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Web3

Humans will evolve again, along with Web3

The web is evolving, welcome to Web3.

During the history of Humanity, several Empires have dominated the World thanks to several factors including military power, religion – but ultimately it was money that kept things going on.

Bitcoin

Since the massive Depression of the 1930s, the United States ended the Gold Standard which was the first step in stopping the relationship between Gold and Cash. Moving forward to 2007-08, another big crisis tied to the U.S. Housing Bubble spread worldwide, generating questions about the banking system. It is no surprise that one year later, in 2009 Satoshi Nakamoto wrote the Whitepaper of one the most revolutionary weapons of freedom ever created from mankind, Bitcoin. As the document states, Bitcoin is “a purely peer-to-peer version of electronic cash that would allow online payments to be sent directly from one party to another without going through a financial institution”.

This invention – the first-ever blockchain – changed the course of history, featuring for the first time a decentralised protocol, where users would be able to exchange money without asking for permission to centralised power. Since 2009, many other founders were inspired by the work of the person or the people behind the pseudonym of Satoshi Nakamoto, bringing more and more innovation and benefits to a growing group of blockchain enthusiasts.

Many successful blockchain founders have helped the world to become aware of the blockchain revolution. Among them, we must mention Brian Armstrong – who founded one of the most used exchanges, Coinbase, in 2012 allowing millions of people to buy and sell crypto assets – and Vitalik Buterin – who created and launched the Ethereum blockchain, described as a decentralised mining network and software development platform rolled into one.

As it always happens with all of the top inventions in history, once a new technology is available to the public, it starts to have its own life. Blockchain made no exception, with many users starting to use it in different ways:

– Decentralised Finance (DeFi) is one of the most used tools in the blockchain. Ethereum brought DeFi to success thanks to MakerDAO which since 2017 established a lending DeFi platform that allows users to borrow Dai, a stablecoin pegged to the US dollar. The beauty of this? There is no need for a bank to help people achieve financial freedom.

– Non-Fungible Tokens (NFTs) are unique data stored on a blockchain that can be associated with art, music, gaming items, real estate and much more, providing a public certificate of authenticity or proof of ownership. Between August 2021 and January 2022, the biggest NFT Marketplace worldwide, OpenSea, has generated over 17 billion US Dollars in NFTs volume, allowing users to trade popular collections such as Bored Ape Yach Club, Doodles, Cool Cats or CryptoKitties.

NFTs

– Decentralised Autonomous Organizations (DAOs) are one of the biggest creations of the blockchain, organizations not influenced by a central government or entity where users holding a token (or equity) of the organization can democratically make proposals and participate in the decisions, making the crypto token generated by the DAO governance tokens. A recent example of a popular decentralised organization is The OpenDAO, which airdropped $171,066,550 in SOS token to 305,000 users. The reasons? These people were active NFT traders on OpenSea and this new organization wants people to be rewarded as part of the growing non-fungible token ecosystem.

– Play-To Earn (P2E) is one of the biggest reasons behind the metaverse and decentralisation growth, changing once and for all the way gamers spend their time. If once many people were spending time without rewards, now they can play multiple videogames getting money in return. One of the most incredible (and heartwarming examples) is the rise of Axie Infinity, a Pokémon-like crypto game, among people of South East Asia; during August 2021, one hour of play was worth around 100,000 Philippine Pesos (about $2,000) which is obviously a great opportunity for humans living in poor countries.

Virtual Avatar

In 2022 we still don’t know who was behind the name Satoshi Nakamoto, whether it’s one or multiple individuals. All we know is that there has never been a time in history filled with opportunities for humans to actually learn how to be financially independent and participate in building the future.

The power of Web3 is huge because, for the first time in history, users can participate in the success of companies and organizations, rather than be used as a monetization tool.

The goal of gmw3.com is to help people, both newcomers to the world of Web3 and skilled crypto degens, to learn more about this ever-evolving space.

To stay up to date, follow gmw3 on Twitter, Facebook & Instagram.

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