LEO is forming into a nice digital platform. Right now we are seeing some expansion that is bringing features to the table which can help those looking to build on here.
This is a crucial notion for everyone to understand.
As a foundation, Leo is rounding out the capabilities to offer abilities similar to many other digital platforms. Fortunately, this has a Web3 twist to it which I will explain.
Allof this, combined, means it is simply foolish for anyone on Leo to overlook what it means to build here.
So let us take a look at some of the basics and then incorporate that into Web3.
This is called value 101 in the world today.
When we look at the companies with the highest market capitalization, there is a common trait for most of them: digital platforms.
It is the common thread for Apple, Facebook, Google, Microsoft and even Tesla. These entities realize how powerful the digital realm is and has it as a basis for their business model.
When this is done a few benefits instantly arise:
Essentially this is taking the advantages of the digital realm and applying them to physical products. The blending is what sets these companies ahead of the rest.
The big advantage is speed. Digital platforms can grow rapidly. We know that coding takes some time but, overall, it is far quicker than doing things in the physical realm. A quick example is the time it takes to build an online store as compared to one in the physical world.
Just the permitting alone could take longer than building a virtual marketplace. This is where those entities that are mired in the "world of atoms" are lagging.
With Leo, it is a matter of ride technological trends that are already in place. We are, by default, in the digital realm, hence entitled to all progress that is made. Whether it is processors, storage, LLMs, or communication networks, this is a part of the framework we are operating within.
Of course, size does matter. Right now, the contrast to the major technology platforms is laughable. It is not even a comparison. That said, there are advantages to this.
When it comes to rates, Leo can outpace many others. This is where exponentiality enters. With larger firms, it is harder for them to progress as fast as before. Size can become a hindrance (in addition to their business models).
Having the ability to see significant changes in a short period of time is an advantage. This means many technological resources are being leveraged. A back end update could expand the capacity of the platform by an order of magnitude. Do you know how long it would take Facebook to do that?
Here is where it gets very interesting.
Those who build on a digital platform become part of the value proposition. Hence, the more building, the greater the advancement. Ultimately, you would think, this correlates into a higher valuation.
We all heard the concept of the users being the product with Web 2.0. It is hard to argue this sentiment.
It is completely different with what we have here.
When someone decides to set up a business on Leo, it is a funnel into the valuation model that is designed to go exponential. The feedback proposition becomes such that people are able to experiment in ways they never considered before.
Here is where I believe most get lost. Instead of realizing the potential, they bring the old mental models to the platform. Hence, anything that is offered is completely missed.
Companies spend untold amount of money to try and get people to come to them. They engage in different forms of marketing so people will take some action. Ultimately, the goal is usually to sell them some product or service.
Here is Web3 is different.
This is not required. There is a built in audience. Hell, on Hive there is even a currency that serves as a medium of exchange. If you want to access it, simply accept that as payment.
Where else do you find that?
But this goes even deeper. Those who are truly operating on the platform has a vested interest what takes place. The idea of more expansion is not a threat but, rather, a benefit. This is called the network effect and, if it happens with enough people, things can go parabolic.
Of course, there is a process that has to occur. Some of the core components of the digital platform are going in place. This means others can create business without the cost associated with most business model.
Do you realize how much of an advantage that is?
From there, it is a matter of taking ones idea, bringing it to fruition, and working on expanding it. Here is where the built in community is of benefit.
It becomes a circular system where buyers are stakeholders, providing more value to themselves through their purchases.
It is a no-brainer at that point.
