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Why Web 3.0 Is So Important (Part 1) by taskmaster4450

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hive-167922 · @taskmaster4450 ·
$19.22
Why Web 3.0 Is So Important (Part 1)
This is going to be a multi-part series discussing why [Web 3.0](https://inleo.io/@leoglossary/leoglossary-web-3-0) is crucial.  Due to advancements in [AI](https://inleo.io/@leoglossary/leoglossary-artificial-intelligence), we are seeing things being altered very quickly.  Unfortunately, it seems most are asleep to what is taking place, even within the [crypto](https://inleo.io/@leoglossary/cryptocurrency) industry.


There are two major components that are going alter the make up of our [economies](https://inleo.io/@leoglossary/leoglossary-economy).  In this [article](https://inleo.io/@leoglossary/leoglossary-article), we will cover the [job](https://inleo.io/@leoglossary/leoglossary-job) situation.  There is an example that exemplifies what is about to take place.


In the second one, we are going to deal with the fight against Big Tech.  They are positioning themselves to destroy many online [businesses](https://inleo.io/@leoglossary/leoglossary-business), pushing the likelihood of only a few [digital](https://inleo.io/@leoglossary/leoglossary-digital) platforms running everything to the forefront.


For the moment, let us look at the first reason why Web 3.0 is crucial.


<center> https://img.inleo.io/DQmWsGSKVzUKZB8asNuTdiKTHQRPBNBMN4bTyLQabDqPHAE/image.png 
Image generated by Ideogram </center>



# Massive Job Destruction


When you take the [money](https://inleo.io/@leoglossary/leoglossary-money) out of something, it tends to diminish.


This is the basic essence of [human](https://inleo.io/@leoglossary/leoglossary-human) labor.  It is becoming devalued with each passing [day](https://inleo.io/@leoglossary/leoglossary-day).  The release of the last versions of Large [language](https://inleo.io/@leoglossary/leoglossary-language) Models (LLM) revealed this.  What we have coming next, in my estimation, is going to blow away what we are presently dealing with.


Of course, the [company](https://inleo.io/@leoglossary/leoglossary-company-business) that gets a great deal of attention is [OpenAi](https://inleo.io/@leoglossary/leoglossary-openai).  This is important to this article since its Chief Product Officer, Kevin Weil, recently spoke out about where things are going.


What happens when something goes from $6,000 to $3?


I think most would say that is some major [deflation](https://inleo.io/@leoglossary/leoglossary-deflation).  To the users of that product or service, that is a huge decline.


This is exactly what is happening in the legal industry.


>OpenAI’s Chief Product Officer Kevin Weil has sparked a profound discussion about AI’s transformative impact on [professional](https://inleo.io/@leoglossary/leoglossary-professional) services, particularly in the legal sector. His ‘Ray Summit 2024‘ revelation about their o1 model’s capability to produce legal briefs traditionally handled by high-billing associates highlights a dramatic shift in the [economics](https://inleo.io/@leoglossary/leoglossary-economics-social-science) of professional services.


To some, this does not come as much of a surprise.  The discussion around knowledge [work](https://inleo.io/@leoglossary/leoglossary-work) being devalued at accelerating pace is starting to be felt. 


According to Weil:


>The stark contrast between traditional and AI-powered legal work is eye-opening: what once required six hours of a $1,000-per-hour associate’s [time](https://inleo.io/@leoglossary/leoglossary-time) can nOW be accomplished in five minutes for merely $3 in API credits. This 99.9% reduction in both time and [cost](https://inleo.io/@leoglossary/leoglossary-cost) raises fundamental questions about the future of professional services and their pricing models.


<center> [Source](https://wallstreetpit.com/119841-from-8000-to-3-openais-revolutionary-impact-on-legal-work/) </center>


The last part is clear: these professional services cannot compete.  It is really that simple.  It is no different than a human bookkeeper producing a spreadsheet at the pace of Excel.  


As we stated on numerous occasions, this means jobs.  If we focus upon this single service, over time, the [revenue](https://inleo.io/@leoglossary/leoglossary-revenue) coming in will decline.  The businesses will have to start reducing costs, meaning people will be let go.


Ultimately, these firms will close up shop.  Have you seen a buggy (horse) manufacturer lately?


## Why Web 3.0 Is So Important?


If we are entering a period of rapid decline in the value of labor (even if we don't get to post-labor economics), how are people going to survive?


This is the multi-trillion dollar question that nobody seems to have an answer for.  What we have is the ownership of the means of production is going to shift seriously.


Here we have the private versus public debate.  Many are stating that something like Universal Basic [income](https://inleo.io/@leoglossary/leoglossary-income) (UBI) is the answer.  While this could make sense on the surface, what is really happening is the means of production is basically being handed to the [government](https://inleo.io/@leoglossary/leoglossary-government).  People [love](https://inleo.io/@leoglossary/leoglossary-love) free money so they will support this.  Of course, this is fine until the political landscape changes and one falls out of favor. 


Then your income ends up being eliminated.


Web 3.0 offers the potential for something different.   The regular debate operates in the geographically based [world](https://inleo.io/@leoglossary/leoglossary-world).  Instead of going this route, the future solution could be based upon communal ownership in [networks](https://inleo.io/@leoglossary/leoglossary-network).  Here is where Web 3.0 changes everything.


With the expansion of digital capabilities, [economic](https://inleo.io/@leoglossary/leoglossary-economic) productivity is being tied, to a greater degree, to [networks](https://inleo.io/@leoglossary/leoglossary-network-broadcast).  Since we are dealing with [data](https://inleo.io/@leoglossary/leoglossary-data), processing, and advancing "intelligence", it is clear how these are becoming more important.


Networks within the Web 3.0 realm are not exclusively owned by [corporations](https://inleo.io/@leoglossary/leoglossary-corporation).  Instead, [public blockchains](https://inleo.io/@leoglossary/leoglossary-public-blockchain) democratize the ownership, allowing anyone to be involved.  Here is where the ability to own [assets](https://inleo.io/@leoglossary/leoglossary-asset) enters.


Thus we see what the debate boils down to: Big Tech versus everyone else.


Web 3.0 provides a different ownership structure that provides the [opportunity](https://inleo.io/@leoglossary/leoglossary-opportunity) for communal ownership.  People are able to accumulate stake, often through a variety of methods, to have a vested [interest](https://inleo.io/@leoglossary/leoglossary-interest) in the economic activity that is generated.  Over time, if this is increasing, the value of one's holding will follow.


Here is where we see the distribution mechanism change.  Users, [investors](https://inleo.io/@leoglossary/leoglossary-investor), and [entrepreneurs](https://inleo.io/@leoglossary/leoglossary-entrepreneur) are all on the same footing.  It does not matter how one acquires stake.  This is radically different from the present [business model](https://inleo.io/@leoglossary/leoglossary-business-model), where ownership requires either buying in or starting something oneself.


This is a shift from income to [staking](https://inleo.io/@leoglossary/leoglossary-staking) [capital](https://inleo.io/@leoglossary/leoglossary-capital).  By having stake, people are presented with a host of financial opportunities.  


It is going to be necessary as their job prospects start to dry up.


____


<center> [What Is Hive](https://inleo.io/@leoglossary/leoglossary-what-is-hive) </center>


Posted Using [InLeo Alpha](https://inleo.io/@taskmaster4450/why-web-30-is-so-important-part-1-za)
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vote details (876)
@be-connected · 
This is such a powerful breakdown of why Web 3.0 is more than just a technological shift—it’s a necessary evolution for a decentralized future.

The way you highlight how AI is reshaping labor markets and how Web 3.0 can empower individuals through ownership is truly insightful.

It gives hope that this new digital era can create opportunities for everyone.

We are waiting to see where this will lead!

That is all I can say.
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@bpcvoter1 · 
>We've carefully curated this post at Bilpcoin we are striving to improve the Hive experience for everyone.

>Let's collaborate for a better Hive community. If you appreciate our efforts and content quality, we kindly ask for your upvote.

<a href="https://imgflip.com/i/97fgp3"><img src="https://i.imgflip.com/97fgp3.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>


[We've been experiencing bad downvotes for a considerable amount of time and we're seeking answers. We're concerned about the control held by certain entities like Blocktrades, which delegates Hive power to accounts like Buildawhale, and Usainvote](https://hive.blog/hive-167922/@bpcvoter1/we-ve-been-experiencing-bad-downvotes-for-a-considerable-amount-of-time-and-we-re-seeking-answers-we-re-concerned-about-the)

https://hive.blog/hive-167922/@bpcvoter1/we-ve-been-experiencing-bad-downvotes-for-a-considerable-amount-of-time-and-we-re-seeking-answers-we-re-concerned-about-the

https://peakd.com/hive-167922/@bpcvoter2/despite-the-exposure-certain-individuals-continue-their-actions-calling-names-and-revealing-a-childish-attitude-it-s-crucial-to

https://peakd.com/hive-167922/@bpcvoter3/on-hive-the-transactions-between-punkteam-and-gogreenbuddy-raise-many-questions-transactions-don-t-lie-and-maintaining

https://hive.blog/hive-167922/@bpcvoter1/we-must-stop-the-buildawhalefarm-which-is-backed-by-blocktrades


https://peakd.com/hive-158694/@bilpcoinbpc/a-open-letter-to-hive

!LOL !DOOK !BBH !PGM !BEER !ALIVE !GIF !WEIRD !LUV !PIZZA !LOLZ 





https://hive.blog/hive-167922/@bpcvoter1/sljqhf







<a href="https://imgflip.com/i/96hqfo"><img src="https://i.imgflip.com/96hqfo.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>






<a href="https://imgflip.com/i/96hpec"><img src="https://i.imgflip.com/96hpec.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>


<a href="https://imgflip.com/i/96eefd"><img src="https://i.imgflip.com/96eefd.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>



>Very alarming situation on Hive: Misuse of power, fake interactions, and abuse of downvoting we've spoken up about the abuse of power on Hive, only to be downvoted and spoken to poorly. 

>Themarkymark and others are misusing their power, with Blocktrades delegating Hive power to Buildawhale and Usainvote. 


<a href="https://imgflip.com/i/96ebia"><img src="https://i.imgflip.com/96ebia.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>



<a href="https://imgflip.com/i/96ej1s"><img src="https://i.imgflip.com/96ej1s.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>



>The marky mark need drugs

https://youtu.be/3knxHd8nwuE



livinguktaiwan (79)in HiveFest • 2 days ago
He would never survive an hour at HiveFest now 🔪🔪🔪

https://hive.blog/hive-106258/@livinguktaiwan/re-slobberchops-skc63a


https://hive.blog/hive-106258/@slobberchops/re-livinguktaiwan-skc5h1


<a href="https://imgflip.com/i/94qulq"><img src="https://i.imgflip.com/94qulq.jpg" title="made at imgflip.com"/></a><div><a href="https://imgflip.com/memegenerator">from Imgflip Meme Generator</a></div>





[On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out](https://www.bilpcoin.com/undefined/@bpcvoter1/on-hive-a-significant-issue-exists-with-automatic-upvotes-consistently-rewarding-the-same-individuals-day-in-and-day-out)


[We want to address the issue of downvoting. It has caused pain to many people, and we want to make sure it doesn't happen again  reply to @jacobtothe](https://www.bilpcoin.com/undefined/@bpcvoter1/we-want-to-address-the-issue-of-downvoting-it-has-caused-pain-to-many-people-and-we-want-to-make-sure-it-doesn-t-happen-again)

[On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out](https://www.bilpcoin.com/undefined/@bpcvoter1/on-hive-a-significant-issue-exists-with-automatic-upvotes-consistently-rewarding-the-same-individuals-day-in-and-day-out)

[We hope that those who genuinely care about Hive will reconsider their actions, as continuing down this path could inadvertently harm innocent users who are unaware of these issues](https://www.bilpcoin.com/undefined/@bpcvoter1/we-hope-that-those-who-genuinely-care-about-hive-will-reconsider-their-actions-as-continuing-down-this-path-could-inadvertently)


[lol the Marky mark keeps dreaming](https://www.bilpcoin.com/undefined/@bpcvoter1/lol-the-marky-mark-keeps-dreaming)



[There's been a notable increase in frustration and concern among many users](https://hive.blog/hive-167922/@bpcvoter1/there-s-been-a-notable-increase-in-frustration-and-concern-among-many-users)

[Reply 2 @crimsonclad You may consider yourself clever](https://hive.blog/hive-167922/@bpcvoter3/reply-2-crimsonclad-you-may-consider-yourself-clever)



[Reply to @crimsonclad](https://hive.blog/hive-167922/@bpcvoter3/reply-to-crimsonclad)


[Consider revising the value plan, as it's not providing significant benefits to HIVE](https://hive.blog/hive-167922/@bpcvoter3/consider-revising-the-value-plan-as-it-s-not-providing-significant-benefits-to-hive)

[The Value Plan, as it stands, seems to be a one-sided relationship with the HIVE platform, where the benefits are one-way](https://hive.blog/hive-167922/@bpcvoter3/the-value-plan-as-it-stands-seems-to-be-a-one-sided-relationship-with-the-hive-platform-where-the-benefits-are-one-way)



[Actions indeed speak louder than words, a fact we've all observed individuals may talk a good game, a whole lot of shit, but their actions often expose their genuine nature LOL](https://hive.blog/hive-167922/@bilpcoinbpc/actions-indeed-speak-louder-than-words-a-fact-weve-all-observed-individuals-may-talk-a-good-game-a-whole-lot-of-shit-but-their-)


[We consider it unwise to engage in harmful actions, even if you think you can escape the repercussions](https://hive.blog/hive-158694/@bilpcoinbpc/we-consider-it-unwise-to-engage-in-harmful-actions-even-if-you-think-you-can-escape-the-repercussions)


https://hive.blog/politics/@jacobtothe/re-bpcvoter1-shjdc8


[The Hive Police aka Hivewatchers, are the real heroes of Hive LOL, aren't they?](https://hive.blog/hive-167922/@bpcvoter3/the-hive-police-aka-hivewatchers-are-the-real-heroes-of-hive-lol-aren-t-they)


[Feast your eyes on Hive's trending page, what a load of trash](https://hive.blog/hive-167922/@bpcvoter3/feast-your-eyes-on-hive-s-trending-page-what-a-load-of-trash)


[LoL it's the Hivewatchers Hive Police, dishing out orders like a bakery LOL! Folks, do what you want with your Hive power, just as you please. And you, Hivewatchers, downvote away, but remember, judgment day's coming](https://hive.blog/hive-167922/@bilpcoinbpc/lol-its-the-hivewatchers-hive-police-dishing-out-orders-like-a-bakery-lol-folks-do-what-you-want-with-your-hive-power-just-as-)


[Harry fam We're just here, laughing at the shenanigans on Hive! Sure, our content's getting downvoted, but hey, it's all part of the game LOL](https://hive.blog/hive-167922/@bilpcoinbpc/harry-fam-were-just-here-laughing-at-the-shenanigans-on-hive-sure-our-contents-getting-downvoted-but-hey-its-all-part-of-the)

https://hive.blog/hive-158694/@hivewatchers/shhnhs


adm [-]
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steemcleaners [-]
jacobtothe [-]
logic [-]
chekohler [-]
b00m [-]
celestegray [-]
citizensmith [-]
sazbird [-]
technicalside [-]
bagpuss [-]
vxn666 [-]
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meestemboom [-]
ihal0001 [-]
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meesterleo [-]
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https://hive.blog/hivewatchers/@bpcvoter/shqkqc  13
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vote details (1)
@daniasi ·
@daniasi "From 6K to 3 dollars? I mean the decline is elabor..."
From 6K to 3 dollars? I mean the decline is elaborate. AI is introducing more scare in human to human transaction.
Adding to that, relying on government through UBI is a bad idea, we know some government capabilities at least. Only few understand the advantage of web3, till then it is better for it users to keep pushing it's positive evidence.
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@emocomun · (edited)
Hi @taskmaster4450 and C/LeoFinance. 
I found the discussion you propose very important: Why Web 3.0 is so important (part 1). And the first part is fundamental. AI is covering much of our way of working, I think that education and AI education must be rapidly changing society and its way of working; this belongs to a few posts to be discussed.

But, what you raise in Web 3.0 is fundamental, the democratization of private property or rather, communal ownership in networks, leads us to a situation of economic corporations and among all, where we all (communes) are people participate in owning assets. Now, are we aware of it?

Hola @taskmaster4450 y C/LeoFinance. 
Me pareció importantísimo el debate que propones: Por qué es tan importante la Web 3.0 (1ª parte). Y la primera parte es fundamental. La IA está cubriendo gran parte de nuestra forma de trabajo, pienso que la educación y la educación IA deben ir cambiando rápidamente la sociedad y su forma de trabajo; esto pertenece a unos posts por discutir.

Pero, lo que usted plantea en la Web 3.0 es fundamental, la democratización de la propiedad privada o mejor dicho, la propiedad comunal en redes, nos lleva a una situación de las corporaciones económicas y entre todos, donde todos (comunas) somos las personas participe en poseer activos. Ahora, ¿estamos consciente de ello?
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@learningpages · 
All this rings true, but my main concern about Web3 being a solution is 'take-up'. People may steer clear of using anything related to a blockchain because of fears generated by:

- not understanding the blockchain,
- crypto currency instability,
- having their bank accounts suspended because of a transfer to another bank which also deals in crypto currency,
- all the 'benefits' offered by the 'big-techs'.

My article [*What's Next - Web3 or Web0?*](https://ecency.com/hive-150329/@learningpages/what-s-next-web3-or) was inspired by reading *The Circle* by Dave Eggers.
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@monkmasters ·
@monkmasters "I see Web3 as favorable, asymmetric, leveraged bet..."
I see Web3 as favorable, asymmetric, leveraged bet on the future.

Gotta stake where the puck the puck is going to be.  🤣
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