Hive Is Leading The Charge Into Web 3.0

about 2 years ago

There is a lot of talk about Web 3.0 yet very little action. One of the exceptions to this is Hive.

Each day we see people, both individuals and project teams, doing their part to move things forward. It is a grind at times but, when we step back, we are seeing enormous progress being made. Hive is starting to stand out on the things that matter. Ultimately, many of us believe this will be of major benefit.

Web 3.0 is the next generation Internet. Few know what it will look like since it is presently in development. Since it is emerging organically, we cannot surmise exactly how it will be. What we know is that cryptocurrency along with many of the tenets will be part of it.

Hive is exhibiting those. For this reason, let us dive into the potential that is here.

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Who Owns Hive?

We all saw the headlines how Elon Musk "bought Twitter". This isn't exactly accurate since he purchased a little more than 9% of the company. That earned him a spot on the Board of Directors. Now, everyone is wondering how he will "fix Twitter".

So who owns Twitter? Obviously the shareholders. This is how corporations operate. Do you know who does not own Twitter? The users. Unless they purchased some of the stock, they have no financial interest in the operation.

This is not the case on Hive. Anyone with the HIVE token has a vested interest. So who owns Hive? We all do. It is the different stakeholders who are the ones who financially benefitting. Unlike Twitter, this includes all users.

It is becoming more evident each day that Hive's basic distribution with both tokens and node infrastructure is helping it to stand out. A lot of what is taking place with regulation does not apply to Hive. Why is that? Because the distribution is enough where there is a degree of decentralization. There is no company behind it and certainly no founder's stake.

We have over 100 nodes, run by people (or projects) that are spread all over the world. The latest was one set up by @psyberx which just ran its first node.

Anyone is free to participate. There is no exclusion on Hive. Individuals with the know-how can set up nodes and start assisting in infrastructure. Try doing that with Facebook. Since it is run on a rotation basis, anyone live node will validate blocks.

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Sharing In The Overall Financial Growth

Anyone holding a HIVE token is capable of enjoying the benefits of price appreciation. The US Government treats cryptocurrency as property. Hence, each Hive token someone has is his or her property. This means all financial benefits that come along with that.

It is here where we can see how one as an "ownership" stake in Hive. Often people get these tokens by engaging with the blockchain. Try doing that on Twitter. Is Elon going to start financially rewarding people for being active on that platform? Will Zuckerberg? The answer is rather obvious. We all know how Web 2.0 operates.

Web 3.0 is ushering in a completely new era. We saw a big announcement from the Leofinance team yesterday regarding this.

Advertising is one of the major revenue generators on social media. Here again, the users are left to endure the ads yet get none of the financial benefit. With Leofinance, that is not the case. Ad revenue, from its different sites, is going to be used to buy the LEO token and add it to the holdings of those who with Leo Power.

This is Web 3.0 at its finest.

Now all who are holding Leo Power have a vested financial interest in seeing the traffic on the site grow and to concentrate on engagement. Suddenly, web search results and Alexa rankings are important.

Of course, we still have to note that these are the early days of this process. Nevertheless, hopefully other front ends will follow, further rewarding their community members.

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The Age Of The Cooperative

Hive is a cooperative. It is one of the leading systems ushering in a new era: The Age of the Cooperative.

This is not a novel concept. These were used for generations. However, the drawback is they traditionally were limited in size since geography was paramount. When they got too large, they became ineffective.

With the digital age, this is changing. Tokenization is providing governance models which will allow for scaling. No longer are we confined by physical location.

Here is how the International Cooperative Alliance defines cooperative:

A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

Does this sum up what we are constructing on Hive?

It is impossible to ignore the similarities. To many, Hive is like a "digital home". This makes a lot of sense in this context. Think of it as our virtual housing complex. Here we often find cooperatives. Again, the difference is this is global as well as expanding on a weekly basis.

We all have an interest along with a role to play in the success. For years we discussed the idea of people switching to the "ownership" model. In one's development, who is responsible for picking up the litter on the ground? The answer is anyone who sees it. Whatever needs to be done, people have to step up. If not, the neighborhood (along with housing prices) will collapse.

It all changes when there is a financial interest. Typically stakeholders come in many forms. Few, however, are part of the financial component. With a system like Hive, most everyone is a financial stakeholder as well as filling other roles.

No longer are you the product like on traditional social media.

Each layer built on this helps to feed into the entire system. Thus, it is to the benefit of each token holder. There is no separating it. If one application has success, it impacts the whole.

This is what Web 3.0 is all about. It is a new "ownership" model where it is in the hands of nobody, or everyone. Those who are involved can reap the financial rewards that are offered.

Once again, try that on Twitter or Facebook. Here we see the stark difference between Web 2.0 and Web 3.0.

Hopefully this is starting to make sense to everyone.

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