We often get caught up in the monetary aspect of this industry. It is also what attracts the regulators as well as political hacks.
In this video I discuss how the focus has caused people to overlook the technology that is advancing. This is where the disruption comes from. It truly is the importance about Web 3.0.
▶️ 3Speak
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the truth is that little by little I am understanding how Web 3 works and yes, hopefully it will arrive very soon to continue working and advancing together with technology
Chasing short-term prices is a good way to lose money and I think development is the way to go. It will at least maintain its value while we are in a bear market.
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While we are still anchored in the more traditional monetary system, we know that there is much more to that when it comes to cryptocurrencies. It is simply reshaping the world under our eyes and decentralizing it, putting power into the hands of participants. I think that this disruptive technology will rearrange the order of the world, but I understand it is hard for some to see that at this early stage.
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Summary:
Task discusses the current state of the cryptocurrency industry, highlighting the importance of focusing on the technological aspects rather than solely on market values. He draws parallels with the early days of the internet, emphasizing the need to recognize the potential of the technology behind cryptocurrencies. Task emphasizes that despite regulatory challenges, the unstoppable nature of the technology will continue to progress, ultimately leading to widespread disruption in various sectors such as banking, finance, social media, and database management.
Detailed Article:
Task opens the discussion by pointing out the uncertainty surrounding the future of the cryptocurrency industry amidst regulatory scrutiny and negative sentiments. He mentions specific instances like Putin considering a ban on crypto transactions in Russia and the skepticism from banks, regulators, and politicians. Task highlights the industry's focus on market cap, token value, and bull/bear markets, which he believes distracts from the core technological innovation.
Drawing parallels to the early internet days, Task stresses the importance of viewing cryptocurrencies as part of a new internet technology wave, specifically Web 3.0. He questions how the internet would have evolved if its development was solely judged based on market value in the 1990s, underscoring the current myopic view of cryptocurrencies. Task suggests that the regulatory concerns stem from the financial side of crypto, overshadowing the immense technological potential.
Task goes on to emphasize the inevitability of technological progress, pointing out that despite attempts to regulate the financial aspect of crypto, the underlying technology is open source and unstoppable. He mentions the proliferation of open source software in the crypto realm and how project teams can leverage this to create a decentralized ecosystem beyond regulatory control.
Furthermore, Task discusses the importance of infrastructure in developing effective applications in the crypto space, citing challenges related to transaction costs and scalability. He delves into the significance of decentralized databases like Hive in enabling robust applications, highlighting the need for efficient infrastructure to drive user adoption.
Task also touches on the potential for tokenization of assets and the rise of synthetic assets, noting the inability of traditional entities to regulate peer-to-peer transactions effectively. He emphasizes the transformative power of technology, likening it to a slow-moving glacier that eventually leads to significant disruptions across industries like banking, finance, and social media.
In conclusion, Task urges listeners to focus on technological advancements within the crypto space and the potential for widespread disruption in various sectors. He leaves viewers with a thought-provoking reflection on the power of technology to reshape traditional systems and the importance of keeping an eye on these evolving trends.
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.