Blockchain, Crypto and Web3
Learn the very basics of Blockchain and crypto, and how Manta Ray is creating a user-owned EV charging marketplace uniquely enabled by a Blockchain token.
Blockchain, Crypto and Manta Ray
Manta Ray is built on the Ethereum blockchain.
Manta Ray uses blockchain technology to transparently distribute control of its network to the community members who contribute to building it. By distributing control globally based on user contributions (like referring drivers, verifying EV Charging Hosts, and referring Hosts), Manta Ray's blockchain-powered model aligns the incentives of the network itself with the people building it, rather than relying on a centralized platform that would otherwise extract disproportionate value in the form of high fees from its knowledge workers.
Not only does this put more control in the hands of the community, it helps grow the network rapidly.
Manta Ray Founder on how to run a decentralised market place
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Future of Web3
What is the difference between Web2 and Web3?
Web 1.0 = readable web
Web 2.0 = interactive web
Web 3.0 = user owned web (users keep the value, not a company in the middle)
Truthfully, Web 3 should be called Web 0. It’s the original vision of the internet, restored. The primary goal is to give denizens of the internet more control over their digital footprint.
Crypto is a vehicle to do this, so they’re often conflated.
Ownership.
In Web2, networks are owned by a select group of people who invest or work for the company.
In Web 3, the opportunity is to build networks owned by those that contribute—be it with code, machines, content or community building.
The users own the networks.
What makes something a Web3 network?
Decentralized
User-owned
Peer to peer
Blockchain
A network qualifies as Web3 if the cash flows and ownership structure is controlled "on-chain" — meaning its controlled by software written by developers and running on a public blockchain (as opposed to legal contracts written and run by lawyers).
What are some examples of Web3 networks worth watching?
On the consumer side:
Why will Web3 networks grow faster and be more valuable to their users than Web2 networks?
Tokens are a novel way to bootstrap network effects in a market/network. The users that build the network earn tokens for contributing.
NO rent seeking middle men extracting value from the users.
Aligned incentives.
Silicon Valley has known for years that to get the best talent to work for your company you've got to give ownership (in the form of stock options)
Crypto tokens move ownership at the speed of information—to a global market of talent aligned with growth.
Typically architected in a way that optimizes for shared upside as opposed to the Web 2 model of digital serfdom.
What will happen to Web2 networks?
A 1/3 of those companies will never go away, but they will have to adapt because Web3 marketplaces will come in and start eating their lunch.
2/3 Is there a way to adapt without being a crypto project? Time will tell. People are stubborn, so you can be sure they’ll try to adapt the existing model, before creating a new one.
Which industry or sector will Web3 disrupt the most?
Possible candidates are ride sharing and delivery apps, and how they disenfranchise workers. Having already been outed so to speak, I expect they are RIPE for disruption if they don’t somehow adapt.
Will all marketplaces someday be owned by their users?
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