Fri. May 24th, 2024
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The narrative of the upcoming summer blockbuster Oppenheimer revolves around the pursuit of atom splitting and the subsequent control over the resulting chain reaction. Few entities possess a comparable magnitude of influence as the atomic bomb when it comes to indelibly transforming existence on our planet, with one notable exception: the collective might of human agency.

When societal structures undergo a transformation characterized by the redistribution of power from the affluent minority to the broader populace, the resultant outcomes can be characterized by their inherent unpredictability.

The fluctuating nature of the collective will, alternating between beauty and ugliness, presents a formidable challenge in its resistance to containment. The entertainment industry in Hollywood has gained significant awareness regarding the potential consequences that may arise when the collective populace, commonly referred to as the silent majority, effectively expresses its opinions and perspectives.

The ongoing Writers Guild of America strike has witnessed individuals with a penchant for written expression transitioning to vocal articulation through megaphones, leading to confrontations characterized by hostility within the designated picket areas.

In social media, a notable trend emerges as content creators express their dissent towards the governing entities overseeing their platforms. Internet users play a pivotal role in the functioning of digital networks, as they generate and disseminate memes, talking points, jokes, and viral videos that contribute to the substantial valuations of Silicon Valley startups. Regardless of the absence of monetary gains, irrespective of the number of views amassed or impressions generated.

The Great Depression of Social Media

The phenomenon of experiencing anxiety about social media is not a recent development. Furthermore, it is not limited solely to matters of monetization. The concern extends beyond mere apprehension, encompassing a wide range of issues, including non-transparent data reselling practices, as well as the pervasive phenomena of censorship and de-platforming.

During the summer period, Meta incurred a substantial fine of US$1.3 billion from the European Union due to its inadequate management of user data. This was followed by a revolt among Reddit moderators, who expressed dissatisfaction with the perceived lack of authority. Additionally, a recent incident involving Reddit moderators engaging in insider trading after disclosing the termination of its community token program has further contributed to the prevailing sense of turmoil. Furthermore, there exists a general sentiment of despair surrounding X, formerly known as Twitter, due to the unpredictable decision-making practices of its new proprietor, Elon Musk.

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From one perspective, X has exhibited an increased inclination toward embracing the principles of free speech after Musk assumed a leadership role. However, the blue check verification system of the platform has encountered significant issues, and users have expressed dissatisfaction with the platform’s rebranding and new vocabulary.

When Mr. Musk assumes the role of a benevolent dictator, he is willing to consider and incorporate feedback while also pledging to allocate a more significant portion of revenue towards esteemed creators. During the remaining duration, his actions can be likened to a bull within a china shop, engaging in a series of accidental mishaps.

YouTube, in recent times, has exhibited an escalated implementation of content moderation policies, thereby eliciting discontent among notable figures such as Jordan Peterson. Similarly, Meta, formerly known as Facebook, has encountered significant backlash from tribute bands subjected to prohibitions due to their perceived attempts at impersonating renowned individuals.

If one were to contemplate the current state of affairs, it would be prudent to anticipate the forthcoming season of the Web2 social media spectacle, as it promises to present a series of developments that may surpass the current unfavorable circumstances.

A New Beginning With WEB3

In the field of Web2 social media, prominent platforms have been embroiled in a competitive pursuit that has resulted in a disconnection between users and the platforms themselves. However, there have been endeavors made by certain entities to emulate their strategies. If one finds themselves dissatisfied with the established regulations, it is suggested that they consider the option of formulating their own set of guidelines.

For individuals with a penchant for imaginative pursuits, their endeavors often revolve around establishing a presence within the realm of Web3. This expansive domain operates under the principle that censorship is a formidable adversary, and decentralized storage systems supplant centralized servers.

According to proponents, it is essential to note that Web3 does not serve as a panacea for all the deficiencies inherent in Web2. Firstly, establishing network effects poses a considerable challenge for any developing application, particularly one with aspirations of encroaching upon Facebook’s dominant position in the market.

Additionally, adopting Web3 entails a learning curve that surpasses the challenges associated with familiarizing oneself with a novel network. This can prove overwhelming for individuals who are less experienced in technology.

For individuals who possess the audacity to transition to Web3, the intermittent lack of dependability inherent in this realm may be pardoned due to the substantial benefits it bestows remuneration to those responsible for generating revenue, ownership of data for its rightful proprietors, and a medium for individuals who have been removed from traditional platforms. In numerous aspects, this material lacks a groundbreaking nature. The absence of such a feature is noticeably conspicuous within contemporary social media platforms.

Enabling creators to exercise agency over their trajectory within social media entails more than merely allowing them to monetize their aptitudes. It concurrently endows them with the capacity to assume the role of stakeholders, thereby exerting influence over the network’s forthcoming trajectory. It is logical to infer that individuals who possess a vested interest in the success of a platform are inclined to make decisions that align with the betterment of the collective.

Web3, with its foundational principles of liberté, égalité et fraternité, may appear reminiscent of a utopian vision aligned with communist ideals. However, it is essential to note that Web3 primarily embodies immense consumer potential, offering a veritable paradise of opportunities. Suppose one adheres to the principles of receiving compensation for one’s labor and maintaining ownership of one’s intellectual property and personal identity.

In that case, the fundamental tenets of Web3 are likely to strike a chord. The platform operates on a system that incentivizes users based on their contributions and active participation within the creator economy. The absence of incentives for disseminating substandard content concurrently mitigates the proliferation of unsolicited and irrelevant information.

The act of engaging in frivolous and inconsequential online discourse colloquially referred to as “shitposting,” remains a possibility within the realm of Web3. However, it is imperative to consider the futility of such endeavors in the absence of an attentive audience. 

Utilizing blockchain-based social networks facilitates the establishment of a creator’s reputation and the expansion of their audience while mitigating concerns related to the potential consequences of a provocative jest or an abrupt alteration in policies leading to adverse outcomes.

The Web3 framework discourages and restricts individuals from engaging in inappropriate behavior without facing consequences. Instead, it enables individuals to embrace their inherent humanity, including their imperfections, without facing detrimental effects such as blocklisting.

You Have Control Over Your Future

The essence of Web3 lies in the fundamental principle of enabling individuals to exercise their autonomy in making choices. The act of voluntarily engaging with advertisements and subsequently receiving compensation in the form of tokens, as facilitated by the attention economy’s temporal tokenization, is deemed acceptable. It is also good to abstain from engaging with micro-rewards and opt out entirely.

The act of monetizing one’s data or maintaining strict control over it is a permissible course of action. It is acceptable to uphold pseudonymity while establishing connections with individuals who share similar interests, individuals whom you may unknowingly encounter in person but hold a deep affinity for within the realm of the internet.

The current iteration exhibits imperfections, yet it demonstrates a commendable level of ambition. Its potential superiority over established solutions remains uncertain at this stage. However, it should be noted that Web3 represents a significant social experiment in our current era. The inherent qualities of the subject matter render it undeniably captivating.

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Jake Coleman

By Jake Coleman

Jake Coleman, a prominent author and cryptocurrency enthusiast, brings his deep understanding of the blockchain world to Crypto Education Hub. With his insightful articles, Jake empowers readers to navigate the complex world of cryptocurrencies with confidence.

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