Euwyn pfp
Euwyn
@euwyn
Web3 makes the internet its own sovereign state 🧵
8 replies
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
1/ In the early days of the internet, some theorized that the internet would be its own sovereign state.
0 reply
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
2/ This has not yet come to fruition, as the internet of today merely operates on real world things, like currency and property. Think “puppet strings.”
0 reply
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
3/ You can send money online, but do so by logging into Bank of America and initiating a transfer for US dollars. You can shop for real estate on Zillow, but what you buy is are physical homes and land.
0 reply
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
4/ Web3, the set of technologies centered around global trust-less databases, is changing this by adding a new independent layer on top of the real world.
0 reply
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
5/ This layer comes with currencies (BTC, ETH), digital property with a bundle of rights (NFTs) and internet organizations (DAOs). All of this exists entirely on the internet.
0 reply
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
6/ In the same way many are citizens of multiple countries, everyone will be part of this global layer - in addition to their real-world country ties. Moreover, this layer spans the entire globe, irrespective of geographical borders.
0 reply
0 recast
0 reaction

Euwyn pfp
Euwyn
@euwyn
7/ With these building blocks cementing, the internet now more closely resembles its own sovereign state.
1 reply
0 recast
0 reaction

Peter Kim pfp
Peter Kim
@peter
@perl
1 reply
0 recast
0 reaction