There is a lot of hype around Web 3.0. This is well founded except something major is missing.
In this video I discuss how we are still talking about vaporware. Until we have services, the concept of Web 3.0 will still be theoretical. One cannot expect users to join if there are no services to utilize.
▶️ 3Speak
First time to see your face here
It's a fact man, web 3 is actually not yet where it is suppose to be
People really head to other social networks for entertainments and all of that
This is a video that is very important to each of us here
Thanks
That's surprising. Web3 is nothing in the digital realm when it comes to building data bases. Thanks for giving concrete examples of services that must be built on Web3. I wonder when was the exact year this Web3 idea started.
I think there is a delicate balance needed for Web3 to succeed. You mentioned news a lot. But that needs a lot of funding for journalists, researchers, and camera crew. If it will be similar to twitter where individuals can share the news, then we need mass adoption. Because there will only be a few people that will see their post in Web3 as compared to FB or Twitter. There is currently also less money in Web3 compared to Web2 for people that post their content. People are blinded when they hear of YT or Twitch deals. Tiktok has made it easier for about everyone to make content and be seen. That is why I'm hoping the bull market can give us more exposure, and hopefully we can keep the regular people that try it out.
Facts, as you mentioned, involves significant costs for journalists, researchers, and camera crews. If Web3 follows a model similar to Twitter, where individuals can share news, then mass adoption becomes crucial to make it sustainable. Balancing the need for quality journalism with the accessibility for individuals to share information is a key consideration in the evolution of Web3.
Summary:
In this episode, Taskmaster discusses the need for Web3 services and highlights the current challenges faced by the industry. He emphasizes that while Web3 has the potential for growth and increased user activity, it lacks substantial offerings compared to traditional platforms. Taskmaster points out that Web3 lacks crucial resources such as news sources, entertainment platforms, historical information, databases, and valuable information that people seek. He stresses the importance of information in the digital realm and notes that the economy is increasingly driven by information. Taskmaster asserts that for Web3 to succeed, meaningful services that provide value to users need to be developed and marketed effectively.
Detailed Article:
Taskmaster delves into the concept of Web3 services in this episode, shedding light on the current shortcomings of the industry. He begins by underscoring the fundamental issue plaguing Web3, explaining that despite aspirations for growth and increased user engagement, the platform falls short in providing essential services. Taskmaster points out that while some functionalities like exchanges and value transfers exist in Web3, it lacks integral components like reliable news sources, entertainment platforms, and educational resources.
The speaker accentuates the significance of databases in the digital realm, highlighting that Web3's deficiency in this area severely limits its capabilities. Taskmaster stresses that databases are essential for storing and providing valuable information to users, which is noticeably absent in the current state of Web3. He goes on to compare the vast databases of traditional platforms like YouTube, Wikipedia, and news organizations with the lack of substantial data in the Web3 space, painting a stark contrast between the two.
Furthermore, Taskmaster delves into the evolving landscape of the information economy, emphasizing the pivotal role of information in driving progress and innovation. He elucidates how various industries are increasingly reliant on information, and the integration of digital and physical realms further emphasizes the importance of data. The speaker mentions examples like robotics, design, and sensor-based technologies to illustrate how information underpins these advancements.
Taskmaster also critiques the current focus on marketing Web3 services without a solid foundation of offerings. He points out that many in the industry are promoting vaporware, lacking tangible products or services that cater to users' needs. The speaker prompts a critical evaluation of what Web3 truly has to offer across different sectors, ranging from finance and healthcare to entertainment and telecommunications. He stresses the necessity of developing and marketing services that provide value to users for Web3 to attain mass adoption and become a vital player in the digital realm.
In conclusion, Taskmaster advocates for the development of meaningful Web3 services to address the existing void in essential offerings and propel the industry towards growth and mainstream acceptance. He emphasizes the importance of product services and the creation of value-added services that meet the diverse needs of users in various sectors.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.