The Pratishthan Blog

Building Robust Platforms & Frameworks

Journey of Understanding The Web 3.0 …

Intrigued by how the digital world is changing around me, I didn’t want to be the proverbial frog sitting in a slow boiling pot. Decided to go into a journey with my dagger of intellect, hacking through the myriad of terminologies , technologies and use cases which benefit from the Web 3.0 (read, write and own on the internet). Sharing my experience with all of you as notes.

It all started with when we were discussing Bitcoin a few years back. The way it scared the banking and finance industry in India and other countries in the world, it seemed like the new evil in town. Everybody were comfortable with the Block Chain on which it is built on, so i started working my way through it. I wouldn’t bother and bore with details that it is a digital ledger so on and so forth, there are enough material in the internet which explains them , but the notes are more of a fire side discussion on the journey.

More than how and what of these technologies, I am intrigued by the why of it and how does it change the world.

The first use case which struck a chord with me was NFT which would potentially change the way digital assets are bought and sold in the world. It provides a platform for easy buying , selling and legitimately owning a digital work. Being an artist I can understand the frustration when a artist’s work is ripped off and circulated without any attribution to the original creator, more common and blatant with Digital assets. The buyers especially corporates run the risk of being litigated as some creatives illegitimately claim to be owner of an artifact.

Then there is the Metaverse which is supposed to change the way we are operating. Though today it has more relevance to folks who are into gaming, one cannot be totally sure how it will intermingle with our lives with innovation in augmented reality.

Will people start living more in the digital world than the physical in the future? try drawing sketches of people in a mall ( I have !!), there is only one posture, head bent looking at the mobile. So we are there half way , awaiting an augmented reality kick like a Google glass or maybe something more intrusive.

The time seems ripe as the foundation has been laid with Block Chain, Crypto , NFT and MetaVerse like the stones in Lagori (indian game where kids stack up stones and play) for the human lives to be moved to the digital world. It will bring with it, it’s own evils, new set of masters, inequalities , crimes and also change life as we know it once again. An interesting phase awaits us, be aware.

As an exercise, put the NFT on rarible.

This blog was first posted on LinkedIn by Pradosh Nair here.