Three steps.
Step 1: Account ownership.
Account ownership is fundamental for the new internet and will act as the backbone of web3. The account consists of both a wallet and a username. You know how an immutable bank account and social account mixed into one dapp. In developing countries, Hive has acted as the main bank account for a lot of people.
The account you own on Hive is more than just a social network account. It's an immutable bank account that charges zero fees on all transfers instantly. It's kind of like WeChat, except you own the place.
The internet is built around the account, not the other way around. What happens when the account comes first, and the site comes second? If one site bans you, they ban you from their site; they don't influence your account in any way. What does this change? This means if one site is censoring too much, another site will get more business if they don't censor as much. It's a brutal free market in action. Every action reacts, and with account ownership, sites have much less power than they do today. If let's say Parler and Twitter were essentially the same sites. All the content that showed on Twitter showed on Parler and vice versa. You log in with the same account, and you have all the same followers, community connections, etc. The same user experience on both sites. The only difference is, Twitter started over censoring, and Parler did not. What do you think would happen to Twitter? Well, people would stop using it and lose NOTHING. Log into parler and continue the very same conversation with the very same person without disruption.
Account ownership = Personal responsibility. It's up to the sites to censor what they deem illegal, or you can have dedicated sites that show certain topics. The point is the site is secondary on the new internet.
2 Tokenized Communities.
This is a big one. While the most massive innovation the internet has ever seen is the ability to own your account, own your community (I lumped account/community into the same thing, ownership of one's domain), now the ability to monetize it in a permissionless way is world-changing. Think of all the middle person payment processors who cut people off on a whim. Much power they have. When a community can "break away" and become 100% self-sufficient, that's when things start to take shape.
A platform/network that ties it all together with tools, including a decentralized reputation system.
▶️ 3Speak
