Web 3.0 offers so many opportunities.
The idea of tokenization is very powerful. Unfortunately, as I see it, there is a major issue. cryptocurrency has basically become mostly "buy my token". This is what most platforms are focused upon. They do anything and everything to get the price of the token Moving up. Instead of actually building something, the tendency is to mess with the tokenomics.
This is why it appears things are stalled.
What made Amazon?
If we go back to the early days, Amazon was an online bookstore. In fact, it was a digital bookstore selling most e-books. Naturally the company evolved over time to become one of the largest in the world. Nowhere was there simply a "buy our stock" focus.
Jeff Bezos excelled at creating a flywheel effect. In my opinion, no digital platform did it better than Amazon. For decades, profits were sacrificed for market share. Some might argue this was the wrong approach yet it did work out well.
While the retail was advancing yet not lacking in profitability, one of the key services was being build. AWS is now the most profitable aspect of Amazon and is nothing more than a service.
Here is where we see a giant disconnect between Web 3.0 and the rest of the world.
It is also the road map for Hive and the digital platforms on it to follow.
We need to see more "buy my stuff". This means the ecosystem starts to offer goods and services that people require. This generates something called revenue. Depending upon how things are structures, this could have enormous impact.
Web 3.0 in general, and Hive in particular, is missing commerce. We do not have many businesses on here. This is a total misfortunate because it changes everything.
Many discuss the idea of getting "outside money" to enter. This is done across the board and Twitter is filled with people schilling their coin or token. Again, it is the "buy my token" mindset.
Where the is a business, the entire focus changes. Marketing, for example, is often not even on the company overall. Instead, it gets product or service specific.
We also see the possibility with Web 3.0. Due to the tokenomics, there can be direct buying of the token based upon the structure of the business. With the DAO concept, the profits could be used to buy the token and distribute to token holders.
Over time, this could tie into more financial services, All presented by the platform. The token itself is an asset, providing people with something of value. Revenues help to push this up, opening up the opportunity for collateralization. The proceeds from that could be used for a variety of purposes, including building (or expanding) more businesses.
I long stated that each Hive account is a business.
This evokes a much different mindset than simply being an owner. Here is where I think many run into trouble.
Across the world, most of us where raised in the "time for money" economy. We swapped our time for money. This was often in a direct form, i.e. a certain amount of money for a specific period of time (usually hourly). When it came to our online activity, we were either a consumer, subscriber, or user.
Nowhere does business owner appear.
Hive changes this since people are free to build whatever they desire. The database is provided essentially for free. There is a payment system that is already in place that charges zero fees. If the business is built within an existing application, there is no charge for a website. A wallet system is offered. Finally, there is a stablecoin that can be used as a medium of exchange.
None of this has to be built. It is provided to everyone the second they open up a Hive account.
The unique design of Hive offers so much potential.
With the currency, while there are no fees, some of the value capture coin being staked is required. This provides access to the database. Hence, the more transactions that are taking place, the more of the coin that has to be locked up.
This means that any service which is growing in activity is going to impact the entire ecosystem. The best part of the digital world is all increases in value, no matter how small, is spread to the entire userbase.
Business builders can have a huge impact.
Entrepreneurs and small business owners have been pushed out of the established economy to a great degree. We are seeing massive corporations taking over. With Web 3.0, we are dealing with virgin territory.
Digital platforms tend to be the game of major players. If nothing else, it usually starts with venture capital money.
With Hive, the infrastructure is in place for anyone. This means setting up a business on TOP of what is already in place. This gives the individual a great advantage. Nothing is required in terms of start up costs for this. Instead, the scarce resources could be directed to things other than digital infrastructure.
Hive can even offer a built in store through Wavio.io, eliminating another layer of development.
Those with the business mindset should be drooling over some of this stuff. Anyone who started an online business knows there are a ton of things to address even before one is in operation. On Hive, a lot of it is already in place.
What does the ecosystem look like, not with tens of millions of dollars in trading activity on the coin but, rather, in revenues generated from business built on here?
Suddenly, it takes on a completely new form.
It is what Hive really needs at this point.
