Decentralized Future

Over the past decade, crypto has come a long way. Yet cryptocurrencies are owned by less than ten percent of the global population. Moreover, decentralized financial systems have grown to hold over $100 billion in cumulative assets yet still represent an insignificant drop in the context of the traditional financial system.

Web3 applications have grown to reach tens of millions of users yet are still a far cry from the billions of Web2 users. For example, there are close to one million wallets with POAPs as one of the most used cases in Social Web3, and this number is quite far from the 4,6 Billion social media users.

The journey is just beginning, and the potential of crypto has never been more apparent.

Crypto is poised to be one of the most critical technical and economic shifts over the coming decades, with the potential to fundamentally change money, the financial system (DeFi), and the internet more broadly (Web3).

• Metaverse, Gaming, and NFTs have gone wild in 2021, and the underlying companies will create immense value beyond the fad.
• Web3 is the new internet, and DeFi is moving the ground in finance.
• Also, Blockchain infrastructure is one of the most overlooked verticals in crypto because users • don't use any of these services directly.
• Ownership and Composability are core aspects:

Ownership

Companies actively having ownership available to users so young in their life cycle is a novel thing. Additionally, these products are designed in such a way that they continuously distribute ownership in themselves to the very users, making them valuable.

Decentralized ownership is sowing the seeds of a new era, where users will be able to own, collect, and trade their items outside of games and across games. In music, fans will be more engaged and incentivized by musicians.

Crypto assets are likely to impact all asset classes. Just as the internet turned information into packets online, public blockchains will likely turn all assets into transactions on-chain (currencies, equity, art, commodities, etc.).

Composability

Composability allows anyone in a network to take existing programs and adapt or build on them; it unlocks new use cases that currently don't exist in our world.

Composability inevitably leads to more choices and better user experiences because there are no obstacles for someone taking an existing idea and making it easier to use or adapt it to new use cases.

As more and more of the underlying technology gets abstracted away, the focus will shift toward what people can do with their assets.

Risks/Concerns

• Politics & Regulation: Governments desire to control virtual worlds, and regulations may create new barriers between worlds.
• Moderation & IP Rights: UGC spaces require strong safety and content moderation processes supported by ML and Trust Agents. IP Management will need radical modernizations to account for many new situations.
• Privacy & Ethics: Metaverse activity-tracking has the potential to become far more effective than web-tracking. An open metaverse might be more desirable than a closed one controlled by a few entities.
• Accessibility & Scale: the metaverse is not yet accessible or interoperable at scale. New standards and protocols are needed.

-Team Kalei

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