#022 Solocast #2 - Web3 by a Winter Fire

This week’s podcast is my second SoloCast, and during the episode, I share my thoughts and some predictions on the potential impacts and implementations of web3. The blockchain can be basically defined as a cryptographic breakthrough that allows for openness but with very careful editing permissions. While web1 resulted in costless publication and web2 in costless communication, web3 allows for costless transactions. This will likely increase the number of transactions we make. Web3 can also create cheap digital scarcity which may help authenticate originality in the digital world. Why does this all matter? My answer to this question regards the implications of web3 on the cost of trust and decentralization. Currently, the cost of trust in the market is relatively high, and with increasing transactions and original creations occurring via the blockchain, we will have to pay less for trust. Also, there will be less need for centralized parties such as brands or centralized banks, though it’s too early to say which authorities will all be affected. Next, I make some predictions about what will happen as the blockchain gets deployed. The first to be impacted is the management of digital items, with finance and gaming among the earlier industries. Also, we will likely see digital components getting separated from analog components so that they can be managed on the blockchain. Another trend that may happen is that the blockchain may be implemented to manage atoms in the real world. To wrap up the SoloCast, I explore the implications of web3. It will probably impact managerial culture, and DAOs (distributed autonomous organizations) will likely take over some market share from companies. I also believe the biggest networks will be bigger than the biggest companies, in part because there is no cap on involvement in web3 networks and ecosystems. My goal in sharing my thoughts is not just to tell you what I think will happen but to provide some notions and rough directions so that you can hopefully overlay some of these lessons into your own experience and expertise. Web3 is still not easy to navigate, and it is still early in its implementation, but it provides incredible opportunity, and it is fun to get involved.   Links:  Eric’s Blog Eric’s blog post on digital scarcity Eric’s Blog post on The Cost of Trust Technological revolutions and Financial Capital by Carlota Perez SquidDAO   Additional Episodes If You Enjoyed: Jason Hitchcock: Your Guide to Web3 Simon Judd: How Index Coop is Building Crypto Index Products   If you want to support the podcast, here are a few ways you can:  >> Buy a copy of the Navalmanak: www.navalmanack.com/  >> Share the podcast with your friends and on social media  >> Give the podcast a positive review to help us reach new listeners  >> Make a weekly, monthly, or one-time donation: https://app.omella.com/o/9Bufa  >> Follow me on Twitter: @ericjorgenson >> Learn more and sign up for the “Building a Mountain of Levers” course and community: https://www.ejorgenson.com/leverage  I appreciate your support! 

Om Podcasten

Casual conversations with founders, technologists, investors, and artists about building a brighter future, together. Welcome to our digital living room.  With science, technology and entrepreneurship we can *continue* to create unfathomable leaps in quality of life. We show you how to find, apply, build, and invest in technologies to change your life and the world.  When we have smart friends, we do smart things. When we do smart things, we save the world.  No matter who, where, or when you are – now you have smart friends, too.  Outside this podcast, I’m the author of The Almanack of Naval Ravikant and The Anthology of Balaji. Connect at ejorgenson.com  Laugh and learn with people like Balaji Srinivasan, Naval Ravikant, Andrew Wilkinson, Austen Allred, David Senra, Josh Storrs Hall, Ashley Rindsberg, Zach Pettet, Bret Kugelmass, Omar ElNaggar, Grace Guo, Brett Kopf, Max Olson, Chris Williamson, Shane Mac, Tim Hwang, David Perell, Jason Hitchcock, Natalia Karayaneva, Sebastian Marshall, Taylor Pearson, Mitchell Baldridge and more. Join conversations with my partners in early-stage tech investing, Bo Fishback and Al Doan. Our Rolling Fun Episodes cover our investments and escapades as angel investors and startup helpers. We invest in startups creating the *next* industrial revolution. Learn more at rolling.fun “Surround yourself with people who remind you more of your future than of your past.”