Businesses will lead the transition from Web2 to Web3
Direct from the desk of Dane Williams.
Why businesses will be first movers to Web3, bringing the masses along with them.
If you’re concerned about crypto n00bs transitioning from Web2 to Web3, I just have a single word for you.
Chill.
There is no need to worry about how the process is looking right now in the midst of this mini bear market we find ourselves in.
Because over the long run, the transition to Web3 is inevitable.
Businesses, with the goal of minimising the risk of losing their ability to put their offer in front of their followers will be the first to move.
And from there, a move from the masses is inevitable.
Let’s explore this prediction a little deeper.
Consumers just want their lives to be made easier
Your general man on the street doesn’t give 2 shits about Web2 vs Web3.
All they want is for the apps they use to make their lives easier by solving whatever problem they’re designed to solve, in the most efficient way possible..
When it comes to apps on Web2 vs their decentralised Web3 counterparts, consumers currently face a tradeoff:
- The performance of Web2 based applications, vs...
- Retaining ownership (and thus being able to share in the profits) of those on Web3.
But remember, from the point of view of a consumer, there is only one thing that matters
That being that whatever application they choose to use, solves their specific problem better than anything else on the market.
And right now, Web2 based applications are the clear winner.
Performance metrics such as speed and simply how easy they are to use, makes Web2 based applications an easy choice for consumers.
There’s just no sugar coating it.
When it comes to simple day to day online activities like communicating with friends, sharing your life and interacting with your community of choice, all that matters is that it works.
Web3 dApps are so hard to onboard and use that you literally can’t pay people to take ownership of theri data and empower themselves.
Let that sink in for a second…
But money talks and businesses like money
Okay, now that the doom and gloom has sunk in, let me lift you back up with a dose of Web3 positivity.
I truly believe that the transition from Web2 to Web3 is inevitable.
Why?
Because its business owners and entrepreneurs who NEED to make a profit, are going to lead the transition from Web2 to Web3.
That’s right, the first group of people who are going to make the transition from Web2 to Web3 are businesses.
Basically anyone who has a monetary interest in their account’s followers and the ability to use it on an open network to promote their offer.
On Web2, the risks that businesses currently face are just too high.
Right now, they’re using Web2 social media to maintain communities and promote their message on platforms that a third party can take away at any time.
Their ability to promote and do business is literally at the whim of an unpredictable tech company, whose sole purpose is to make money for investors.
Sure, the sea of regular consumers with Web2 accounts that they are currently able to market to means the potential rewards far outweigh the risks of handing community ownership over to a third party.
But common sense says that if there is a risk, it would be good business to minimise it.
And this is exactly where the inevitable onboarding process from Web2 to Web3 comes into play.
Hive offers a stable Web3 solution for businesses
Hive is a decentralised, open network with a primary use case of allowing immutable on-chain social media-esque activities.
Moving a business’s social face onto Hive is the perfect Web3 gateway that not only allows them to do what they already do on sites like YouTube or Facebook.
But thanks to the decentralised nature of the Hive blockchain, they retain full ownership of their immutable account.
Most importantly to businesses, all of their followers that they rely on being able to put their offer in front of on a daily basis to make money, are tied to their Hive account.
Everything they choose to publish remains untouchable thanks to the power of the decentralised Hive blockchain, accessible via a series of different front-ends.
Thanks to the Hive blockchain, no third party is able to delete content or take a business’ audience (and thus ability to generate an income) from them.
The transition from Web2 to Web3 is inevitable
But even led by businesses, the transition from Web2 to Web3 will continue to be a slow one.
The thing is, they don’t have to stop using Web2 social media overnight to onboard onto Web3.
They can and will be used together as the transition plays out.
Led by businesses, centralised legacy platforms over time, will become nothing more than an onboarding tool for a Web3 account.
It’s just a prudent business decision to go down this path and thus, it is inevitable.
Best of probabilities to you.
Posted Using LeoFinance Beta
https://twitter.com/forexbrokr/status/1531892190590693376
The rewards earned on this comment will go directly to the people sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
we need tour guides for these businesses or they will go elsewhere . Not that elsewhere exists but they don't know about hive either. we are the worlds best kept crypto secret
Posted Using LeoFinance Beta
Censorship on Web2 social media platforms is doing Hive's marketing for us.
You're right that nobody knows we exist.
But all this talk about Twitter's Bluesky shows that businesses have realised the problem and are actively searching for a solution.
Eventually they will stumble across Hive and discover that we're already what Bluesky aims to be!
There is nothing else even remotely close to what Hive can offer.
And it's not like someone can organically start from scratch to achieve what Hive has here either.
Bluesky as an ideal is good, but you can't just launch a decentralised, community owned and led network from scratch.
All roads lead to Hive!
Posted Using LeoFinance Beta
thanks for such a thorough response. I've seen moments in time where I thought anyone with a brain would join hive. I remember that 9 hour mass exodus from Facebook on to Parlor which was even more centralized lol. Not that I wanted that bunch of dopes here but imagine if we weren't a "secret coin" and people knew about us. Would have been epic
Posted Using LeoFinance Beta
Lol.
It's funny you mention Parlor.
I've talked about sites like Parlor and Gettr NOT being Web3 social media in the past.
But the people moving to them are those who would benefit most from the properties of Hive.
Think about it this way...
Those joining Parlor and the like are nothing more than a community with similar interests.
But those 'interests' don't align with the 'interests' (in this case, political beliefs) of the platforms themselves.
So they are getting kicked off, censored and in the case of some business accounts, losing access to their followers who they rely on to make money.
Hive fixes this!
If this community chose to onboard their followers to a censorship-resistant Web3 Hive account, they completely remove this risk.
Build a front-end to display whatever shit they want to say and even if the site gets taken down, they just move to another hosted elsewhere.
Because thanks to the Hive blockchain, all their followers, data, messages and most importantly the *ability to do business remains tied to their censorship-resistant Hive account that they just plug and play.
Posted Using LeoFinance Beta
The people who joined parlor were just joining a marketing funnel lol. It was amazing to watch in real time from a marketer stand point. It was a way to take the dumbest demographic on facebook and move them somewhere else. It was classic.
That can't be true. If it were, Hive would be overrun with new members every day. I talk a little bit about decentralized social media's failure to attract a broader audience in my book. Essentially, Web3 platforms do three things wrong:
In essence, decentralized social media has become a niche product. Web2 platforms succeed because they focus on giving people what they want. Many people want centralization. They like it. It's comfortable to them. They feel safe.
There are technological barriers to entry with Hive. People don't understand cryptography and have no idea why they need multiple keys for one platform. It's confusing to them. And members of Hive do a poor job of explaining it to them.
Hive is a step up from Steemit. One of my criticisms of Steemit is that the UI just plain sucks. They went years without any new improvements. Insane! Every dapp interface for posting content to the platform was superior. In Hive's case, devs have included a WYSIWYG option so new users don't have to learn markdown. That's a very small and simple improvement, but it can make a major impact.
New users have a hard time understanding why there are so many ways to post to the platform. I think it was you @forexbrokr, a couple of days ago, who gave a really good answer to that question.
Hive is still called a Ponzi scheme by some because they don't understand the mechanics of the rewards system. Why is DPOS important? What are RCs and why are they necessary? Why is it that people with more HP get more rewards than people with low HP? There are good answers to these questions but most Hive users can't answer them. I tell people to read the whitepaper, then if you have questions, let me know. The whitepaper has the answers, but they are technical so they may need translation into modern English.
I propose a new project for the Hive community. A decentralized marketing arm (a DAO) whose responsibility is to evangelize the lost, those poor folks stuck on Facebook and TikTok with no vision for how to get out.
This is one of the main reasons I wrote my book. I wanted people to see, especially the Parler and MeWe people, that there are censorship-resistant alternatives for them. Not that I agree with their goofy talking points, but I think they should be free to speak their gibberish as much as anyone else. As long as they aren't breaking any laws.
BTW, when did Hive start using Web3 language? It used to be "decentralized social media." Now we're throwing Web3 around, and it's even in the whitepaper, like everyone knows what that is.
that could be true for small and agile businesses, but big businesses are still using word and excel and don't know anything else.
Posted Using LeoFinance Beta
The risk that a tech company can ban any business on a whim, is real.
Large or small, businesses have built these huge lists of followers and use centralised networks to put their offer in front of potential customers.
Ensuring that the risk of having that taken away from them by onboarding followers onto a Web3 account, is just prudent business.
As the concept of true Web3 (not the crap that the mainstream media tells you it is) is slowly realised by businesses, then the penny will drop.
Posted Using LeoFinance Beta
That's a very good point. My business was blocked by Paypal for a week and it's a catastrophe. We need to move away from web2.
It's not just PayPal. There are also the credit card companies. There are also banks who can choose to drop clients due to "reputational risk." Then there are ancillary services who would go along with the banks as a show of "solidarity" with them. The cannabis industry in the United States faces this problem, as do certain other professions.
We have far too much centralisation and control, its time it went back in the other direction. Im with you man!
The decentralization we have beats whatever we wee in Web2, but we're not where we want Web3 to be. We're either at Web 2.25, or what we want Web3 to be is actually more like Web 3-squared.
Congratulations @forexbrokr! You received a personal badge!
Wait until the end of Power Up Day to find out the size of your Power-Bee.
May the Hive Power be with you!
You can view your badges on your board and compare yourself to others in the Ranking
Check out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!
Upvoted, bookmarked
:)
Posted Using LeoFinance Beta
Sound reasoning, but businesses also weigh the risks. I believe we're in the early majority stage of crypto. We're starting to see institutional investors getting in and playing around, but most businesses aren't dealing with crypto -- not even for payments. I think we'll see a similar trajectory for Web3, but it's the creators, the individual content creators, who are leading the way. Innovators, risk takers, and content creators with a long-term vision.
Right now there's no denying the fact that businesses who NEED the ability to market to their followers in order to make money, are putting themselves totally at the mercy of tech companies.
Facebook and the like can choose to de-platform or restrict them from doing business on their platform at any time.
Their followers aren't actually theres.
For this reason, I view businesses onboarding their followers as risk mitigation rather than risk taking.
Posted Using LeoFinance Beta
Good point. But the challenge is still to persuade them that Web3 is the answer. If you can communicate the pitfalls of Web2 and the benefits of Web3 in a meaningful way, then you can convert them. Right now, it's not happening in large numbers.
Hive, I believe would be a hub for smaller businesses first.
With time the big company leagues may start joining in after the success of small private-owned businesses that are already into crypto. an easy catch may be to offer fewer charges and coupons on crypto payment to attract consumers
This is already playing out at a relatively slow pace but with time, we'll get there.
Posted Using LeoFinance Beta
It's not even about businesses using cryptocurrencies for payments.
This is purely about businesses attaching their followers to a Web3 account that they own and are always in control of.
This is where Hive's base layer allows them to do what nobody else does.
Posted Using LeoFinance Beta
wow
Posted Using LeoFinance Beta
Hive was a hard to on board web3 train, but LeoFinance made things easier.
Posted Using LeoFinance Beta
Yep, LeoFinance is doing a great job.
I'm really looking forward to seeing how LeoFinance integrates crypto communities to try and take some market share away from Medium.
Again, why would a crypto company that bases their whole business around the merits of decentralisation, put the ability for them to get a message to their followers in the hands of a centralised third party?
From a risk mitigation point of view, it's just madness and Hive is a prime solution.
Posted Using LeoFinance Beta
Ecency let me join Hive immediately. Other methods took as long as 3 days. Having multiple paths to onboarding made a difference, even if some were head-scratchers.
Hive is a perfect for big and smaller businesses to and all we need to be successful is here already on hive.
Posted Using LeoFinance Beta
Doesn't matter the size of the business.
If they rely on putting an offer in front of their followers to make money, then they need to consider onboarding that following to a Web3 account that they own.
Leaving themselves at the mercy of a third party is just bad business.
Posted Using LeoFinance Beta
We essentially need sales people in the movement to talk blockchain outside of the blockchain and crypto spaces in a way that people can relate to. People's impression of crypto/blockchain is gEt rIcH because that's what the media feeds them and then people repeat it. People have no idea how deep this world is and the problems it can solve. It's frustrating to see all the nonstop complaining about everything that goes on when I know that there's a good solution.
Posted Using LeoFinance Beta
I feel exactly the same way.
The mainstream media is so caught up in the world of scammy, fake Web3 garbage that in the long run, really doesn't matter.
All that matters is that there are decentralised, permissionless networks being built that can literally offer freedom to millions of people worldwide.
Whether it's the ability to transfer money without the need for a third party, or simply the ability to maintain their freedom of speech.
Web3 is literally life changing.
As for looking at it from a business perspective, I genuinely believe the same thing.
You talk about the need for sales people, but I think that acceptance will happen naturally over time simply because Web3 mitigates the risks posed to businesses who currently operate on centralised Web2 platforms.
They know they can have their followers and ability to communicate with them taken away at any time.
And Hive is the only battle-tested, working solution to this problem on the market.
They will come.
Just give it time.
Posted Using LeoFinance Beta
On the surface this will be be true. As the Parler scenario demonstrated, unfortunately, there are other aspects where centralization exists and therefore provide chokepoints or bottlenecks which can be exploited by parties beyond our control: infrastructure and support services such as legal and finance beyond the payment services offered by the blockchain.
Using LeoMobile as the example, why do we continue advertising links to Google Play when people can download the APK file from
leofinance.io? Likewise with the iOS version meant for the Apple App Store. We're still relying on services which can shut the door in our faces ar any time.It's great that we can "be our own banks," but that won't be enough. We need to "be our own platforms"; or at least associated with platforms agnostic to us if not allied with us. It can be done, but it will take a while.
Marketing is what we do whenever we post here. It helps us better understand what we find so what we can fine-tune our explanations for whomever asks us or for whomever we encounter. Thanks to situations we encounter from current events (e.g., Canadian truckers in February 2022), we even have a context in which we can explain how and why Hive would have solved specific problems.
Congratulations @forexbrokr! You received a personal badge!
Participate in the next Power Up Day and try to power-up more HIVE to get a bigger Power-Bee.
May the Hive Power be with you!
You can view your badges on your board and compare yourself to others in the Ranking
Check out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!
I also agree that the switch over to digital or web 3 is definitely here to stay. It's going to be way more convenient over time as technology develops. I think most of the companies are seeing crypto as an opportunity and it will give crypto a chance to boom.
Posted Using LeoFinance Beta
Yep, the key metric here is time.
Over time and the shift to Web3 will be inevitable.
Posted Using LeoFinance Beta