Where Is Crypto Taking Us? Here's How It Will Reshape Our Future.

Web 3 is here to stay. While the debate over whether blockchain, cryptocurrency, or even NFTs will last longer, those who understand the impact of these technologies are asking a different question. Instead, ask, "Will these technologies last?" They think about the inevitable impact on our future.

Conversations about Web3 are usually based on superficial rumors or ludicrous predictions, without considering its practical implications. Preparing for the future isn't about choosing the clothes you want to wear in the metaverse; It means acknowledging Web3's presence in everyday parts of our lives and seeing the subtle changes that can serve as clues to where we're headed.

Here are four predictions about how cryptocurrency and blockchain technology will change the world as we know it and our future.

Rethinking Power and Identity

One of the biggest cultural changes we will face is changing our digital identity. Especially in the metaverse, a user's identity will be "tied directly to their wallet," says Michael Kals, founder and CEO of DecentraWeb, meaning what people buy and how they interact with brands will be a big ledger for the world. See where they spend their time and money.

If we add structural changes in our interactions away from centralized power and towards its distribution, there will be less censorship. “There will be DAOs that allow members of the Metaverse to make decisions about what to accept and what not to accept. The power will be in the hands of the society and collective," Kales said. The hope is that this distribution of power gives everyone who owns a crypto wallet a voice, giving them a say in the governance of not just their relationship, but the entire group.

These structural changes happen no matter how you look at them. We must take responsibility not only for dealing with this change, but also for how it happens.

Create better opportunities for creators

While blockchain technology has received its fair share of criticism, it has certainly solved many of the problems we face. SWALLOW CEO Alex Nicholls says the general public may be on the sidelines for now. "I think they will adopt Web3 quickly. After all, who knows how the Internet works, or Bluetooth, or without it, is not far behind. a light switch or under the hood of a car." Show me what's there."

One of the challenges facing Web3 is resource allocation and ownership. One of the main advantages of blockchain technology is that it provides global scalability in digital asset ownership and royalty distribution. Nichols added: "Currently, an artist from any discipline can design an NFT with original ownership and royalties encoded in the transaction, ensuring that the creator is paid in perpetuity every time the NFT is sold."

Who can argue with that? Throughout history, artists have been underpaid and neglected. Web3 is not only about the advancement of technology, it brings a welcome jolt to the creative industries.

Connect digital and physical consumers to drive value

One of the many advantages of smart contracts is their potential for unlimited utility. As the space evolves, companies and project founders will need to creatively add value to their digital assets, especially in the form of physical products. "The untapped value of physical assets (not classified as securities or commodities) is huge," said Nimantha Sirivardhan, co-founder and CTO of MetaCask. Real estate is leading the way, but many industries beyond can benefit from this technology: events and ticketing, supply chain, luxury goods, and more.

Sirivardhan says the world of collections is an example of a space transformed by NFT technology. He noted that these new digital assets “provide real benefits by combining evidence and records of ownership, creating accessibility and liquidity for users and collectors. The benefits are not limited to ownership.

It is exciting to see the increased brand engagement and variety of services that will emerge from companies trying to meet the rising expectations of consumers.

Reinventing entertainment

Traditionally, fans' decision-making ability in the entertainment scene has been limited to deciding whether or not to eat something. The biggest option they are usually given is the option to watch from the selection bar or endlessly scroll through the programs of your favorite streaming channel. If they see something and like it, they can click the "like" button or leave a comment.

It is said to be the norm in the entertainment industry to involve the audience in the creative process by voting on the direction the production takes. Pannathorn Lorattawut, CEO of VUCA Digital, CROWN Token Project, believes that “fans will not be just fans, they will be co-owners and creators of their favorite media.

Web3 breaks down barriers between those in charge and creates a new world where all voices are heard. Whether you're on the production studio floor or in the comfort of your own home, you can confidently look at your screen and say, "I did that."

The future is our dream

The future of blockchain technology may seem unpredictable. Looking at this through the lens of human behavior, it's clear that while technology is constantly evolving, we humans generally stay the same.

Crypto, blockchain, and other Web3 developments can drive the changes we've long championed: equality, access, and connectivity. Where will it go now and what problems will it solve? It depends on us.