The Changing Nature of Trust

Another trend that I foresee happening with the new Web3 society, let’s call it, is how consumers and individuals will be able to monetize their information. So I foresee being marketplaces where individuals will offer their PII and on the other hand, market research companies, like Manion, out there, to offer, to compensate individuals for their informations. Um, there might be consumers that get paid for watching ads based on the elements of their identities. So, if you think about targeting or retargeting, a market research company will have a lot more data and especially quality data that they will be able to pay for, but also to use for individuals to really think on a mass level—for example, watching ads and understanding who’s watching and the geo and the demographics related to that specific individual. 

Transactions will become trustless. Now, Web3 is often mistakenly referred to as the Trust-Maker but it is not a trust maker. Web3 is technology that enables transactions between two individual companies or governments without the need for trust. So it’s not creating trust, but it’s enabling transactions whether it’s monetary, financials, or for records, informations, any sort of transactions without the need for trust. 

So, with all the transactions powered by Web3 in the future will be trustless. So, no more need to have middlemen that, their job is basically to, to instill trust and ensure the trust between the party. So that will really change the figures and the, the players that will be available in certain industries, for example real estate. You think about the meaning of having a trust company, um, if you can actually use a trustless system, and all examples of that sort.