Tian Hongfei: 10 Changes in Commerce and Industry in the Web Age3

With the advent of a new paradigm, traditional business logic and the path to success are no longer used. The new paradigm will always be named in the eyes of those who experience the success of the old paradigm, but lack the power to stop the paradigm shift. The power to change and the power to resist it is incomplete, and to support the development of new ideas, older people often have to pay the cost of the move.

The development of information technologies, which began in the 1970s, continued for 40 years and underwent three changes.

Web1.0 started with the names of Netscape and spread to several large companies such as Netsacpe, AOL and Yahoo.Each service deals with social media and posts that no one on the internet knows you are a dog.

Web2.0 started with Google Maps and Facebook, developed companies like Facebook, Google, LinkedIn and more.These companies provide interactive chat services to users. At its heart is social media. These days, it would be strange for someone to sign on Facebook under their real name.

Web3.0 begins with the invention of the Bitcoin blockchain by Satoshi Nakamoto and represents a new paradigm in which users are data-centric.

The development of the website reflects the improvement of the entire industry, from data to people centric, and has always been successful from people to data, information to people, information and contacts, and people with information.

Since 2017, I have been writing an article: “After the gold blockchain, there is the concern for innovation” telling us that the internet industry has entered the market and no new construction. Then the United States and China started doing business online. According to research that "improving blockchain depends on 1% people's trust," every blockchain development cycle includes retirement from a housing perspective. there are people who have retired from relying on bubbles. They will fade with age. Some people who question the success of the business have pulled out of the business. But each circle will see more new people joining, some more capable and more confident. It is the risk of these people that contributes to the growth of any industry.

The root of the bubble is that the human condition often overestimates the present and underestimates the future.Therefore, the future of the construction industry is always shaped by a few people who can keep their inner faith and delay the interest.

As the ICO bubble bursts in 2018, the blockchain industry enters the bear market. But in the end, the blockchain is a bubble, not a scam. Faith will never be reborn and the meaning of the bubble will revert to nirvana. By 2020, when the team is very strong with the ability and confidence to create the bubble together and repeat two years of development, the development of the entire blockchain will come to a new end.

I think,Web3.0 is a huge change because it changes everything about the market and its impact far beyond mobile.. After all, everything that happened to the mobile internet was vividly described in Nigro Ponti's “Digital Survival” in 1996. However, no one can paint the full picture of Web3.0. No one can predict that the 2020 hotspot will be DeFi (decentralized), just like no one can predict that Ethereum will have more opportunities than Bitcoin in 2015. There aren't any. financial, decentralized finance).

If entrepreneurs and marketers continue to treat Web3.0 in the light of negative thoughts and concepts, they will have to respond to the old adage that “a new era must come from the people of the past”.

In the future, companies will be transformed by projects, actions by tokens, shareholders by justice ... The biggest enemy of modern investors this and investors are their opinion.

If you don't want to be left behind by the latest changes, your only option is to stand up and redefine your own principles.Below, we discuss the changes we are experiencing in the Web3.0 era from a market capitalization and investing perspective.

1. From the point of view of the whole environment, Internet users have favored the share of the total growth of the industry over the past 40 years, and the growth models induced by the media will be transformed by the development. from the community.

The Internet penetration rate is still 60% since its introduction in 2015, and Internet access has increased to 78%. All online businesses entered the Red Sea competition. Every business must be competitive for its customers and its competitors. Car prices will increase further. Advertising driven user growth strategies will be influenced by community and user growth function.

2. From Bitcoin to Ethereum, from token-based start-ups to decentralized financial services DeFi and NFT, from malicious growth to traditional legal entities, blockchain development is poised to expand.

Since 2010, Bitcoin's production cycle has halved every four years, bulls and bears have traded, and media fanaticism and indifference has caused group trading, wiping out old entrepreneur groups. Each circle is a different story. The point is, Bitcoin's value grows at least ten times in every cycle, and Bitcoin accounts for over 40% of all crypto transactions. In the world of Bitcoin single chain ...

The description of the 2020 cycle is DeFi, which is now transforming the financial world. DeFi technology will be retained, but DeFi descriptions will not carry over to the next cycle. The modern financial system has developed slowly since its inception, so there is little difference in its authority. In a situation where tech companies hold a large share of the market value, Hyundai Bank is still unable to lend to tech companies, and Silicon Valley Bank, representing the new bank, cannot change the hair a one time. events. After more than six months of hard work, the industry was born.

So I don't think DeFi descriptions can change the real financial market. Changes will occur in the meta-world, the creation of new digital assets in new financial systems and the integration of cloud computing into digital assets. The design of holistic meta-solutions solves blockchain problems in a physical world where blockchain cannot be solved and creates application scenarios for the DeFi application.

3. From a business model perspective, the model in which consumers sell personal information in exchange for free products has shifted from “who pays for use”.

Unlike cloud computing models, the business model of the Web3.0 era is based on the number of runs and visits. The blockchain network is a huge computer, and all the smart contracts it carries are open to external APIs, and traders can call them for free. Entrepreneurs create business products and create new smart contracts based on their ideas.

The large size of open source contracts and insight not only supports innovation, but also reduces the organization's initial start to market. Hundreds of early groups will be replaced by smaller groups. Instead of always wanting companies to buy servers or rent cloud servers, customers don't have to pay for the servers. The smart contract value count arose out of the user's appeal, and since the user pays the price count, the user must have their own information and privacy.

As a result, it replaces the current business model with free advertising.

4. Technically, software development has moved from high performance to low cost in advance to ensure high security and reliability first.

In 40 years of improving the Internet, speed has always been the key word, and enabling thousands of users to access the Internet quickly is a key model.

After the advent of Web3.0 and Metaverse, the internet took advantage of many valuable digital tools, so security and reliability became more and more important.

Cryptography and computer science have become important courses for future software engineers.

5. Regarding software installation, open source has become very important.

Because the software of the future will drive user value, open source has become a viable option rather than an option for software development. In addition, smart contracts should be open, as the development of new products based on the integration of smart contracts will become a development model.

From an industry perspective, today Internet companies rely on advertising revenue to get consumers to their products. In the age of Web3.0, users pay for the use of smart contracts, and more calls from third-party contracts can generate revenue, thus hiding behind third parties. will not lead to loss of income but to new income. Therefore, Web3.0 companies should open the source code and encourage others to use it for free.

6. From a design perspective, it goes from client-server architecture to blockchain edge client.

Servers that have long been used in IDCs will be replaced with decentralized nodes made by blockchains, and serverless code will be sent to the nearest edge on the user side, providing users with private security and speed.

The cloud computing platform monopolized by AWS, Microsoft and Google cloud will collapse and be replaced again by a decentralized data center. Reliable Intel compute processors will be used on a small scale.

7. From a product point of view, over the next ten years, user experience will provide a way to use software.

Blockchain development is still in its infancy, and despite the slow and lousy nature of the 1996 Yahoo website, it is still popular with users because Yahoo offers a new way to communicate information. As Bill Gates explains to the owner what the Internet is, why are radios and systems so much better than the Internet? The marketplace for blockchain products is expected to provide new value for users to manage their digital assets. Just as it takes time for users to understand that the Internet is better than radio and systems, it will take time for most users to understand the benefits of digital tools.

8. From a product marketing perspective, community marketing has become an option.

In short, the user experience of blockchain software is not as common as modern internet devices, so users need time to express themselves. Since users must use devices to manage their digital assets, users must have an understanding of the security of using devices, and since blockchain users are now involved with minorities in the community, they must be recognized and secured by the community.

In the age of Web3.0, the business community and industry will be the leaders in the advertising industry, because users are not long-term consumers, they are also part of the design and design. profitability of the business.

9. From a financial and investment capital perspective, consumers and investors are mixed, and existing investors need to help more than financially.

Similar to ETHereum's ETH token, users can use ETH to pay for transportation, and in the era of ETH 2.0, they can use ETH to participate in public administration. Users not only need tokens to use the articles, but also receive token audit payments as well as distribution articles.

From an investment perspective, future venture capitalists should not only provide financing, but also provide start-up, partnership and project management services. The advertising and marketing of tokens no longer have clear borders, and miners, whether POW or POS, will be involved in the management of the chain. Therefore, future investment firms require full participation from the grassroots through the technology to the solution. to the right.

10. From a business management perspective, the integrity of the enterprise will be changed by DAO.

As mentioned in the Paradigm Transformation Business Model, 40 years of Internet development has reduced the cost of metering, reduced the cost of network integration, reduced market start-up, and increased the share of hands of the new group. .

Hardware development evolved from personal data centers in the 1990s to weather sites in the 2000s, from large-scale advertisements to free and open source software and the Internet via APIs. , and for blockchain-based smart contracts. Lego 2020 Wallet. Entrepreneur start-up capital and large organization start-up are expected to be lower.

Small and international teams were able to reach the shoulders of the giants in a short time, allowing them to create and distribute their own dapps for free based on existing smart contracts on the blockchain. The cost of running the program is borne by the user, which is entirely derived from the current model of the user selling personal information in exchange for the right to use the service.

On the other hand, since the program is fully open, after creating a project, it is easy to refer to the community for maintenance and improvement. In addition to the token distribution model mentioned above, all of these factors add to the ability to govern the DAO organization. .

Entrepreneurs need to learn to find, communicate, manage and support groups of members they haven't met, and they need to learn how to manage their users from scratch while respecting the owners of the trading company. Much of the design and support for the design industry goes beyond software engineering.

The strategic decision on trading to China for traders or releasing QQ and TikTok for US traders can no longer be made. Indeed, all rights and users are open source, printing is something anyone can do and there is no blockchain product. Borders face international challenges.

Therefore, VCs need to change the way they've invested in their group's activities, and they need to change the way they settle down and give way to DAO leadership. for