Let’s make Web 3 Great Again!

Web 1.0, Web 2.0, and Web 3.0 represent the evolution of the Internet’s capabilities, user interaction, and underlying philosophies:

1. Web 1.0 (The Static Web): Web 1.0 refers to the earliest phase of the Internet, characterized by static web pages that were primarily designed for reading. This version of the web was mostly informational, serving as a digital brochure without interactive content. It was a platform where users could only consume content without any form of interaction or content creation capabilities. I remember this version of the web well, as I was one of the early adopters, building my first website for my charity, www.ffl.org back in 1995.
2. Web 2.0 (The Social Web): Web 2.0 marks the transition from static web pages to interactive and dynamic web applications. This era introduced social media platforms, blogs, and wikis, emphasizing user-generated content, usability, and interoperability for end users. It’s defined by the ability of users to not only consume content but also create and share it, fostering communities and collaboration on the Internet. However, this innovation also ushered in the era of big data gatekeepers like Google that controlled the data flow, taking the power away from the individual and controlling the narrative.
3. Web 3.0 (The Semantic Web): Web 3.0, often associated with the term “Semantic Web,” aims to make web content more accessible to machines by fostering understanding and interpretation of data in a human-like manner. It introduces concepts such as decentralization, blockchain technologies, and smarter search algorithms. This iteration promises a more connected and open Internet where users have greater control over their data and privacy. It is marked by the development of decentralized applications (dApps) and aims to create a more user-centric web with enhanced security, scalability, and trust. Free speech, individual empowerment, and expression have a chance again.

The progression from Web 1.0 to Web 3.0 illustrates the web’s evolution from a simple, static information medium to a complex, interactive, and decentralized ecosystem, highlighting significant shifts in how users interact with digital content and each other online.

The Rise of the “Degen” Culture

The term “degen” in the context of cryptocurrency and NFTs is an abbreviation for “degenerate,” originally drawing its meaning from the realm of gambling. In the traditional sense, a degenerate gambler is someone who engages in high-risk gambling activities, often with little regard for the consequences. However, within the crypto and NFT communities, the term has been repurposed and carries both a literal and a nuanced connotation.

A degen in the crypto world refers to individuals who participate in high-risk trading activities. These traders are known for their willingness to engage in speculative investments, often in DeFi (Decentralized Finance) projects, NFTs (Non-Fungible Tokens), and other emerging and volatile market segments within the cryptocurrency ecosystem. The allure of potentially high returns tempts these individuals to invest in projects with an elevated risk profile, which is a characteristic trait of a degen.

The term also encapsulates a certain cultural identity within the cryptocurrency community. Degens are often seen as the antithesis of conservative investors, embracing a high-risk, high-reward philosophy that is both criticized and admired. They are the “believers” in the transformative potential of blockchain technology and digital assets, willing to back their beliefs with actions that carry significant financial risk.

Further expanding on their characteristics, degens are not merely reckless gamblers but are also seen as pioneers and early adopters of new technologies and platforms within the crypto space. They play a crucial role in the liquidity and activity of the DeFi ecosystem, experimenting with new protocols and tokens. This adventurous approach to investment and speculation does not come without its perils, as the highly volatile nature of crypto markets can lead to substantial losses as well as gains.

In summary, the term “degen” has evolved within the crypto and NFT communities to describe a group of individuals who are characterized by their high-risk investment strategies. They are driven by a belief in the potential of digital assets and blockchain technology, often taking positions in speculative projects that promise high rewards. While the term originates from the notion of degenerate gambling, in the context of cryptocurrency, it also encompasses a sense of pioneering spirit and enthusiasm for innovation and experimentation in the digital asset space. So, to be a “degen” is not all bad. Still, the overwhelming impact of this “digital bad boy” mentality has tarnished the industry’s reputation, foremost of which has been the endless number of scammy projects that have overrun the space, leading to hesitation and fear from the regular public.

The Sordid History of Web3

Web3 technology, while heralding a new era of decentralization and innovation in the digital world, has also been marred by various scams that have significantly impacted its reputation. Examples of these scams include:

1. Investment Scams: Individuals are enticed to invest in fraudulent schemes promising high returns with Web3 projects that either do not exist or have no real value.
2. Harmful Airdrops: Scammers distribute tokens that appear to be valuable or connected to legitimate projects, but when claimed, can result in loss of funds or compromise once the wallet is connected to their platform.
3. Fake/Phishing Sites: These sites mimic legitimate Web3 platforms to steal sensitive information such as private keys and wallet passwords.
4. Impersonation: Scammers pose as reputable entities or individuals in the Web3 space, tricking users into sending cryptocurrency or revealing personal information.
5. Fake NFTs: Sales of counterfeit NFTs that either plagiarize real artists’ work or falsely claim to be part of popular collections.
6. Phishing Scams: A prevalent method where scammers trick individuals into revealing sensitive information under the guise of legitimate Web3 entities.
7. Crypto Rug Pulls: Developers promote a new cryptocurrency project, raise funds from investors, and then withdraw from the project, taking the funds with them.

I have personally been burnt by some of these scams, and I know millions of others have too.

These incidents have eroded trust in Web3 technologies, deterring new and experienced users from engaging with its platforms and investments. The allure of innovation and the promise of decentralization have been overshadowed by the fear of losing funds to scams. The high frequency of these scams has prompted calls for better security measures and regulatory oversight to protect users and restore confidence in Web3 technologies.

Making Web3 Great Again

While the promise of Web3 has been to empower the individual again with control of their data and personal expression, the selfish mentality of some, and the pushback of big data companies to resist losing control, has muddied the waters of the potential of this fascinating technology, and thus held back the floodgates of innovation, until recently.

As the value of Bitcoin continues to explode and more and more influential companies warm up and embrace web3 innovation, and with projects like Ethereans OS Protocol making it easier for people to build applications on Ethereum, the general public is coming on board in droves, excited by this new technology’s potential.

I recognized the value of Web3 early on. Starting with my first project, www.OmGuarantee.com we created a WordPress plugin that would enable companies to purchase social impact as a product and then track and record this purchase on the EOS blockchain. With Kindly, we have taken this approach many steps further, building the application entirely on the Polygon blockchain and adding even more detailed tracking so that the entire social impact journey, from dollars to real-world impact, is tracked on the blockchain.

In this way, Kindly’s social impact engine has positioned itself as the go-to value add-on for companies seeking to enhance their social responsibility.

Kindly Provides Maximum Transparency and Trust

Utilizing the latest in blockchain technology, Kindly enables anyone to purchase measurable social impact that is fully tracked and publicly verifiable online.

Kindly sells measurable social impact as a product by working with our vetted impact partners to execute and verify the social good. The combination of all our impact products satisfies 13 of 17 UN Sustainable Development Goals (SDGs) with more partners coming soon to address the remaining 4 SDGs. Our current offerings include:

• Feeding People in Need
• Providing Books to Children in Africa
• Preventing Ocean Bound Plastics
• Planting Trees
• Feeding Rescued Animals

The Kindly Ecosystem is built from the ground up to satisfy the social and environmental impact needs of both businesses and consumers. The following highlights the value we bring to this space:

Multiple Impacts
Offers 5+ different types of social & environmental impacts.

Measurable Outputs
All impact products sold have predefined measurable outputs.

Customer Impact Profiles
Every customer has a profile that shows a full history of their impact.

Unified Reporting
All impact products provide similar reporting & data metrics.

Detailed Tracking
Kindly publicly tracks everything from the flow of funds to the full impact journey.

Trusted Impact Partners
Kindly only uses vetted & well-established industry-leading impact partners to execute our orders.

Maximum Transparency
Public blockchain technology is used to permanently record & process all transactions.

Our aim at Kindly is the make kindness cool, and an essential part of doing business now and in the future. Web3 innovation is a critical part of that story and in this way, we also aim to make Web3 great again, freeing it from its ugly childhood and allowing it to live up to the potential it has always had.

To learn more about Kindly, visit: www.Kindlyimpact.com
#Mweb3GA #socialresponsibility #causemarketing #CSR #giveback #socialgood #web3 #crypto #blockchain