Introduction:
Stage one: Hive Social Media Platform likes, upvotes and money.
My first introduction to Hive was that it was a social media platform, like Facebook, where an account holder produced content like articles or pictures or even memes. But unlike Facebook Likes were called Upvotes, and Upvotes were actually cryptocurrency which could be turned into money. This seemed to be interesting, but the wonders of Hive didn't stop there.
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Stage 2: Web 3.0 narrative
Next came the realization that Hive was more then just a blogging platform, it was Web 2.0 blogging platforms evolved into something, new, different and perhaps better. The narrative about Web 3.0 was about owning your account, so it could never be taken away from you, owning all your content and owning your following or network. So you could never be "deplatformed" as in when YouTube suspends your account permanently for breaking their rules, and just erases your channel and now you don't have access to potentially years of content and all your followers built up over years of time. On Hive you own your account, own your content and own the list of followers of your account. These important distinctions became a big point differentiating the Web 2 platforms from Web 3 pltaforms, and Hive is literally an example of what Web 3 could look like. Add to this Three Speak as a Video and Picture style alternative on the Blockchain plus Fast Free Transactions, and many feel Hive is the evolved better platform.
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Evolutionary Stage 3: Global Economy
The next stage in Hive's evolution is into a global medium of exchange or economic engine. This part of the evolution involves Hive's stablecoin HBD or Hive backed Dollars, a Hive Stablecoin which is always worth one dollars worth of Hive. It is an algorhythmic stable coin, which is becoming a useful part of an ecosystem built around the concept of using Hive Backed Dollars as a medium of exchange. The attraction is similar to Bitcoin, a medium of exchange not controlled by anyone government or group of governments. BUt it lacks Bitcoins volatility, and Hive features Fast, Free Transactions, so there are no Bitcoin fees to pay when sending money across the stret or acrosss the globe. Additionally no one can freeze your Hive Backed Dollars or cut you off from trading Hive Back Dollars with others like they can do with USDC or USDT. Lastly, Hive Backed Dollars value is determined by the free market and by the manipulations of any government.
Conclusion:
I believe money follows ideas which solve problems.
Hive is slowly evolving from a simple social media blogging platform on a blockchain, into a proto-typical Web 3.0 application with a stablecoin HBD, as a global medium of exchange.
It checks all the boxes as a alternative to Web 2.0 platforms, with Upvotes worth money, instead of Likes, account ownership, content ownership and fan base ownership.
It also has a stablecoin alternative to centralized, government controlled and government manipulated Fiat currencies, built right in and with fast free transactions it has a huge advantage over other stablecoins. A
Add to this the ability to create truly circular economies with no leakage of funds similar to the closed economies of Bitcoin Beach, which leads to reinvestment of profits within a community and progressive improvement of economic conditions.
While it is uncertain how much of it's potential Hive will attain, it is clear that an evolving ecosystem which just keeps getting better at solving problems will flourish.
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Bonus
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Evolving as it should... It's been a long time coming if you ask me
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Yes, it has been a slow process for sure, and mass adoption has been equally slow.
!LOLZ
!HUG
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I sent 1.0 HUG on behalf of @jamezmccoy1.
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Thank you for the HUG!
Thank you
Nice brief explanation of your points and nice pictures.
Thank you.