THE CENTRALIZATION PROBLEM
15 YEARS INTO WEB 2.0:
Users have relinquished control and security of their data to large billion dollar companies in exchange for free online services. However, these companies have consistently failed consumers by both intentionally misusing user data and negligently securing their information. Public sentiment is at an all time low as nefarious data scandals and hacks become common news.
BLOCKCHAIN DERIVES ITS POWER FROM TRUSTLESSNESS
Blockchain technology replaces the need for trust in transactions between two or more parties. These trustless transactions allow for transparency, security, and efficiency without third party intervention - as well as reduce
transactional costs and eliminate fraud.
BLOCKCHAIN WILL POWER THE NEW INTERNET KNOWN AS WEB3
Web3 is poised to be the connective digital tissue of the internet of things, big data, artificial intelligence, business automation, and distributed governance.
BLOCKCHAIN ALIGNS USERS, INVESTORS, AND DEVELOPERS
Web3 leverages the characteristics of blockchain to allow the development of
decentralized applications, which remove the traditional ‘trusted’ third- parties from transactions.
In such a system, the users collectively support and maintain the network and each application in a peer-to-peer, horizontally scaled manner - returning power, security, and privacy back to users.
CRYPTO INCENTIVES HELP TO SECURE PUBLIC LEDGERS
In order for blockchains to be secure and efficient, a variety of parties must be incentivized to behave in the best interest of the network - and prevented from harming the network. This is accomplished through an economic concept now known as cryptoeconomics. The incentives that underpin the distributed infrastructure of the blockchain are powered by cryptoassets that act as the monetary instruments of those specific networks. Without these cryptoassets, the public blockchain is less secure.