The last point we have to consider, Dev, is the skills and mindsets required to succeed in a Web3 world. First, obviously, the skills—they aren’t just the technical skills required, but also basic skills attuned to listening to what the community is really asking. And, you know, it’s not simply about serving the community, but it’s really learning about their movement and what their preferences are. And, let them interact. So, we are used to the Web1 and Web2 where companies dictate the future of society.
In Web3, the community will dictate what the market will bear, what they want, and the community wants to engage with you, right? So think about opening channels of communications and engagement. Engagement is not just about providing feedback, but it’s literally working with the community to—on new ideas, on new concepts, coming up with names and colors, on defining what the product is, on allowing them to be rewarded, to be rewarded and incentivized to really be a part of that decision-making production process. And that creates, almost like a cooperative, where the folks running the entity are a consumer themselves. That’s a, a revolutionary concept that is powered by the benefit of the Web3 technology.
Christian, we sense that you carry within you the power to prophesize about this new world you’re helping to architect. Listening to you has been such a pleasure. What prophesies would you like to share with us today?
So, one of the things that I’m excited about is how data will be decentralized, especially the storage of it. We know that data is power, and we know that data is one of the most valuable assets we have in the world. And, traditionally, historically, data has been centralized and stored by a few—a few individuals, a few entities. And we’ve seen the benefit of it, in terms of ease of access. But also, we’ve seen the downsides, in terms of hacking and, you know, losing personal informations that ruin many lives of many people. So, the ability for individuals to own their own data, to be decentralized, without a single point of failure, really is the ultimate way of democratizing someone’s informations, someone’s personal identity. And that, in a way that it’s unhackable, and it’s also monetizable. And we have to also think about website and apps and how, especially the ones that we have today—you know, the Web1 and Web2 apps—will they be able to be decentralized? Well, I don’t know. It’s a good question. And only time will tell. Usually, from my experience to see that usually, Web1, Web2 technology applications are hard to convert over to Web3 simply because Web3 is based on the community itself, and it’s much more of a cultural shift than it is a technology shift. So, if you’re starting out a company, I think that you’re going to have a better shot at starting out Web3 native than trying to convert your website or apps into a Web3 application.
Lastly is, will there be hybrid models? If there are models that would be considered hybrid, it might be. It will take management a considerable amount of effort from a cultural standpoint, and also from a technology standpoint to kind of re-implement the architecture, both from a management element and a technology element.