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Web3: Beyond Cloud Computing

Dom Steil
Dom Steil

Blockchain computing will make your business more competitive than Cloud computing.

Do you believe me? If so, let me take you on a journey to the future.

In web3, decentralized global organizations transact assets and agreements on universal settlement layers. Systems for automating and transacting assets through Front-Office, Middle-Office and Back-Office Applications are networked, orchestrated and verifiable across multiple distrusting organizations. Transactions are real-time and settle instantly across different organizations across the globe. Enterprise applications preserve the privacy of customers. Customer data is not used in machine learning models without consent. Agreements are auto-executing, competitive and codified with external stakeholders. Auto-executing decentralized public blockchains are deterministic and provide finality through state-of-the-art consensus algorithms. A network of blockchains will serve as the next-generation of the internet through digitally native enterprise agreements and tokenized assets. There will be thousands of interoperable blockchain networks, millions of tokenized assets and these networks have immutable liquidity through traversable enterprise merkle trees. This is the future of the enterprise software industry, a decentralized system of agreement between global stakeholders.

Today in web2, we can see the state of the objects and entities organizations use to manage sales, subscriptions, leads, accounts; without the manual updates, growth critical assets are all stale. Information and communication via mobile and web-based applications drive growth. Tools are used to synthesize the data points. I spent the last 7 years working in these systems of records. Building and configuring applications that implemented workflows and processes, custom user interfaces, even bots to abstract away the pain with updating SORs manually. Importing and spinning instances, installing package and modules, lots of missed checkboxes, customized demos in cloud silos. I have learned that most of these applications result in a paper deliverable. Any steps to automate the rules of generation and dynamically merge fields or streamline signatures leads to a sales tool. There is a consolidation of cloud storage and the many applications used to patch together these siloes as they have emerged. The state of the art today between counterparties is applications within Slack, gMail and Salesforce; and of-course Word, Powerpoint and Excel, the former residing in data centers on Oracle clusters.

Web3 is bringing the Enterprise and Consumers into a world that is:

Open Secure Trusted Privacy-Preserving Direct Verifiable Honest Immutable Decentralized Global Real-Time Auto-executing Liquid Consistent Verifiable Deterministic Consensus Driven To bring about:

Eliminating Systemic Mistrust across Counter-parties Knowledge and Wealth Distribution Verifiable Digital Agreements and Digital Assets Data Ownership and Security Open-source, blockchain based, tokenized systems Self-organizing groups and incentive systems Global enterprise business networks and asset ledgers Tokenized Asset Platforms and Markets for Contracts and Assets Unstoppable, Decentralized Global Settlement Layers Data Commons, Open Verifiable Data Exchanges In response to a web2.0 that is comprised of:

Bought and Sold Customer Data No Trust No Accountability Not Verifiable Evasive Siloed Manual Copied Risk Customized Data owned Not persistent Temporary Outsourced Controlled by a few Multi-tenant Rented Expensive Closed

The mediums we use to communicate, to transact, to agree; are controlled by intermediaries who charge us for our use and then sell our data. The enterprise applications are siloed, failing systems of record and unimpressive systems of intelligence. The processes we use in applications are engineered to make them more addictive. The shift is happening into web3 and there is a network of people working on recreating an open web, open financial system and decentralized system of agreement for the world.