March 30, 2020
Introduction to Web 3 – Tony Aube at WAQ19

Introduction to Web 3 – Tony Aube at WAQ19

Hello everyone, thanks for having me Today I will talk about Web 3.0 My name is Tony Aubé, I’m a designer from Quebec city. I’ve been working in Silicon Valley for the past 5 years. I recently joined Google AI Research. In the past 5 years, I’ve been
giving talks around the world on various topics such as design, artificial intelligence, and augmented reality. Last year I gave a talk here at WAQ on the blockchain. In this talk, I expand on the subject. If you watched the previous one, you might see some similarities. The Web just turned 30 last month! You probably saw it in the news It was very popular. In particular, Tim Berners-Lee, who invented the Web used this occasion to announce that he’s unhappy with the direction the Web has taken That it is steering away from its original vision. To understand his perspective, it is worth looking back at the history of the Web. Before the Web, there was the Internet. Back in the 60s and the 70s. during the cold war between the USA and the USSR. The US had one system controlling its nuclear weapons They worried an attack could disable the system and prevent the US from counter-attacking. So they built a decentralized system of many computers distributed across the country. So if an attack was to disable one of the computers the defense system would remain operational ensuring the mutual destruction of both countries. A bit of a dark beginning for the Internet but this is where the idea of decentralization first came from. Over the next 20 years the technology keeps evolving and in 1990, our friend Tim Berners-Lee created the World Wide Web. For the first time, enabling people to browse the Internet easily There is a difference between the Internet and the Web Internet is a platform which connects electronic devices while the Web is one application among others which uses the Internet as a platform. Just like other applications like email and messaging Back then, the Web was mostly used by researchers and students Fast forward 5 years, new browsers like Microsoft Internet Explorer brought the Web to the mainstream audience These were the good old days We had dial up connections. It took forever to just download a photo or a video. Web design was simply terrible. This was Web 1.0. The Web 1.0 was decentralized. Meaning it was powered by regular computers. This is a photo of Tim Berners-Lee’s computer. There is a sticker on it saying not to turn off because it powers the Internet. Web 1.0 was also open source. Meaning anyone could freely build on it This enabled new business like Google and Amazon which could have never happened if the Web had been private. Finally, Web 1.0 was “read-only.” Meaning, for every thousand of users browsing the Web only a handful of them had the technical skills to publish content. All of this changed around 2005 with the Web 2.0. Web 2.0 is the Social Web. We see new companies like Facebook and Twitter. For the first time, anyone could publish content online even if they didn’t have any technical skills Design and usability were key components of this Fundamentally Facebook is just an easy way for anyone to create their Web pages While Web 1.0 was read-only Web 2.0 is the Social Web Everyone can publish and share their content But already at that time, we start seeing some issues While these new companies make our lives easier They build silos on the Web and slowly we start drifting away from an open platform Furthermore, the computers who previously powered the Web slowly morphed into the huge centralized data centers required to power these platforms. Smartphones sped up this phenomenon Today we have these incredible devices These devices let us browse the Web with apps such as Safari, Firefox, and Chrome But unfortunately, these apps are lost among a sea of other apps which are, once again are closed, private and opaque. To be clear, Web 2.0 is a buzzword. It was made up by Tim O’Reilly who is another important figure of the Web. He created the Web 2.0 Summit A big conference which brought engineers and researchers together to define the future of the Web When you think about “Web 2.0.” The question is inevitable What will Web 3.0 look like? There was a lot of speculation back then People predicted Web 3.0 would be the Web of AI or VR While I think these are interesting technologies I don’t think they will redefine the Web Web 3.0 is happening now Last year, there was a big conference called the Web 3.0 Summit Which, just like the Web 2.0 Summit, brought together engineers and researchers The message is clear. There is a movement building up. Web 3.0 is about re-decentralizing the Web Why decentralize the Web? Why did I choose to talk about this? Unfortunately, the Web is broken today One of the reason is advertising The Web today is filled with ads. The reason why there is so much of it the Web has no native means of transmitting value Back then, people were also wary about using their credit card online It was tough for businesses to make money online. This is where companies like AdWords and DoubleClick came in By facilitating online advertising they enabled businesses to offer their content for free Over time, advertising became the web’s default business model This led to the Web of today where everyone uses ad blockers and media uses ad-blocker-blockers The media are losing revenue Online advertising isn’t as profitable as print. So media need to rely on shady tactics such as clickbait, fake news, and misinformation. so they can monetize people’s attention. This is a vicious circle caused by the Web’s reliance on advertising. After advertising, there are data breaches. As we know, data is now very valuable This comes from advertising The idea that the more you know about your user it is easier to create targeted advertising and make more money Today there is a race to collect as much data as possible online This data is collected in these big centralized servers which is the favorite target for hackers Last year there was the Equifax hack 143 million people had their Social Security Numbers and driver licenses stolen Which is terrifying People blamed Equifax saying they had poor security But companies like Facebook and Google also had data breaches and these companies have access to the world’s best engineers. The reason why this happens is that no system is completely secure As soon as you start hoarding data in those centralized servers it creates an incentive for someone to steal that data Every system can be broken into. In 2018 there were 6.3 billion accounts hacked. This is close to one account per human on the planet. I can promise you this number will go up in 2019. Companies aren’t the only one hoarding data. Governments do it too. We saw it in 2014 thanks to Edward Snowden who told the world about PRISM which is a global surveillance program by the USA. Beyond the USA, you have other governments like China who uses the data to give its citizens a “social score.” and bans people with low scores from buying plane and train tickets. This is a worrying direction. Then there are monopolies. As I said, big companies are building silos on the Web. For instance, Facebook kill social media competitors either by copying or buying them. There is also Amazon which is well known for its e-commerce. What is less known is Amazon owns over 40% of the cloud. When Amazon crashes, it takes nearly half of the cloud with it. This happened last year where a server crash took down entire businesses like Slack, Soundcloud, and Medium. Next, there’s censorship. Having centralized servers makes it easy for governments to block access to them. For example, Turkey has blocked access to Wikipedia for nearly two years. Because, as we know, Wikipedia is a threat to national safety. There’s the great firewall of China. Countries like Russia and India are building their own versions. This is another concerning trend. Data loss is another problem. Two thousand years ago there was the fire of the Library of Alexandria The library had invaluable documents which were lost in the fire. Everyone agrees this was a tragedy Yet, this kind of thing happens daily on the Web. Everyone has experienced it. You try to access a link and get a 404 error. The link is broken. The page is lost. The average life span of a website is about 100 days Every month, 2% of the links disappear forever. These are devastating numbers when you think how important the Web is today in terms of culture and information. It’s sad to think of all the information disappearing daily Non-profit organizations are trying to back up the Web like the Internet Archive foundation. But given the speed at which the Web is growing and disappearing This is a lost cause. In short, things are bad. There are many problems with the Web. What do we do with them? When preparing for my talk, I read an interesting book called “Designing an Internet” by David D. Clark Who is one of the founding father of the Internet. The title itself is interesting. This book teaches us that the Web we know today is the only one of the possible interpretation of the original vision. People like you and I made the components that power the Web. The idea of Web 3.0 is to revisit these components to fix the problems I just mentioned. The Web 3.0, called Web 3 for short will bring along 3 major changes. First, money will become a native feature of the Internet Second. Decentralized applications offer users new capabilities. Finally, users will have more control on their digital identities and data. Let’s start with the first one: Money will become a native feature of the Internet. Earlier I mentioned the reason why there is so much advertising online. Because there were no native ways to transmit value online. Thankfully, and invention recently came along which solve this problem. This is an important invention which I believe will have as much of an impact on society as artificial intelligence or augmented reality. This invention is… drum roll… Bitcoin. Now I can see eye rollings in the back. “Oh no, not another talk on the blockchain.” I gave a talk here last year on blockchain and Bitcoin. In my conclusion, I said that even though Bitcoin does not last. Even if it’s just a trend or a temporary bubble. It created a snowball effect. It completely changed the way we think about technology. I explained how Bitcoin is a clever combination of Blockchain, Cryptography, Peer-to-Peer networking, and Consensus Algorithm to bring two major innovations. First, it allows digital scarcity. For the first time in history, we can create items which are both digital and unique. By default, when I send information with a computer, I duplicate it. When I send an email, I don’t send the email. I send a copy of the email. This is great if I want to send things like movies, music or documents. But it is terrible for sending money. Because money that can be duplicated has no value. On the other end, I can send a Bitcoin which is similar to sending an email Except when I send the Bitcoin, it’s gone. A Bitcoin can only be at one address at the time. This is the kind of technology that will allow the Internet to have its native currency. When I say this, I usually hear: “Tony, we already have money online!” This morning I bought something on Amazon using my credit card. It works perfectly. While this is true, we can use money online now. The problem is we have to use intermediaries. We need to raise my hand, like children, asking for permission to use our money. The second Bitcoin innovation is that it allows you to spend money without any intermediaries These two innovations will bring what we call the Internet of Value To understand how big this is consider how Web 1 and 2 revolutionized the free flow of information Technology transformed every single kind of media. Newspaper, the phone, television, books, radio, photography, encyclopedias, etc. These are all components of our society that were completely transformed by by technology in the last 20 years. Overnight, it became possible for anyone to send information at any time, anywhere in the world, for free, instantaneously. This completely changed our world. Today it feels like we live in the future. Being able to talk to anyone, anywhere, instantaneously, for free. But, if you look carefully what is weird is not the technological revolution we experienced but everything that remained curiously unchanged despite the revolution that happened. A big part of these things has to do with value. If Web 1 and 2 brought an explosion in the free flow of information Web 3 will bring an explosion in the free flow of value. In the next decade, sending value will also become global, instantaneous, free and accessible to everyone at any time. While Bitcoin is trying to replace cash or gold, depending on who you ask. Value goes far beyond cash and gold. Think of every component of society that has to do with value. Real estate, credit, art, the stock market, business deals, etc. This is huge. This brings me to my second point: Decentralized applications will offer new capabilities. The idea behind decentralized apps is to take the innovations powering Bitcoin like blockchain, cryptography, peer-to-peer networking, and consensus algorithm and to add them to Web applications. As I explained, Bitcoin lets you transact without any intermediaries. Why couldn’t we use the same ideas to build other applications? For example, when I use a chat app like Messenger Just like the previous example, if I want to chat with my friend like a child, I need to raise my hand and ask for permission. In the end, companies like Facebook own my conversations with my friends, Isn’t that weird? On the other hand, I could use a decentralized chat app Like orbit, which is a simple app you can use right now. You will be able to chat with your friends without any intermediaries. You and your friend own your chat logs. So there is this crazy idea that we could take every application we use today on the Web For instance, Airbnb, Twitter, Facebook, YouTube and we could build decentralized versions of these apps with no central authority or power. Consider Airbnb. What if the host and the guests could connect directly with each other using native Web protocols. Today there are a ton of decentralized applications. This is why I said this is a movement. In all areas, whether it is money, banking, payment, advertising, supply chains, In short, for nearly every product we use regularly there is someone, somewhere, building a decentralized version of it. How can we build decentralized applications? As I was explaining earlier we’ll need to change the Web infrastructure itself I explained how the Web infrastructure will have its native payment layer with projects like Bitcoin Of course, there are many other competing projects. Last year I talked about Ethereum who is a decentralized virtual machine or an OS which can run code on its blockchain. On top of this, we can add a decentralized storage layer. To build an app, you need to store files such as images, videos, text, etc. There is an exciting project called IPFS Which is not known enough in my opinion. IPFS stands for Inter Planetary File System It is an alternative to HTTP Which lets us create a “Local Web.” What do I mean by this? Today if I want to download an image I will most likely download it from the cloud. It is one-way communication. IPFS leverages the networking capabilities of these devices such as Wi-Fi to create an interconnected network. With IPFS, I can still download from the cloud but once I have the file if I opt to contribute to the IPFS network anyone can get that file from my device. This brings many benefits. First, this is much more censorship resistant Earlier I mentioned Turkey has been blocking Wikipedia for nearly two years Hacktivists created a copy of the Turkish Wikipedia fully decentralized, running on the IPFS network which is accessible even in Turkey. The government can’t block it. This is the kind of innovation that aims to solve the censorship problem I mentioned earlier. Another benefit is that it is much more permanent. As an example. I did a lot of research in preparation for this talk. I saved these links in my bookmarks I can promise you that in a few years if I try to get back to these links some of them will be lost. However, with IPFS, I could decide to save these pages on my device and anyone could access them from my computer even if YouTube or Medium disappear As long as one device in the world hosts the file, they will remain accessible. In addition, IPFS also has a built-in Version History. This is similar to features such as Time Machine on Mac This is a popular feature found in many software today. It allows you to browse the previous version of a file. This is built in directly into IPFS. It is the kind of project that aims to solve data loss. Third point: users will have more control over their data. So far governments have had been mainly in charge of managing our identities. by issuing passports and driver licenses. But strangely, in recent years, private companies have also become identity managers Today, we get these kinds of forms all the time on the Web asking us to give all sorts of personal information. For smaller companies, identity is hard to manage. Thus, recently, big tech companies such as Facebook and Google and facilitated thing by becoming identity managers on the Web. Once again, isn’t it a bit weird that private, profit-seeking companies are now in charge of our identities. This is an issue that our friend Tim Berners-Lee has been trying to address for a long time. He wrote and gave a lot of talks on the matter. Last year, he announced a new project aiming to change this. The project is called Solid, for Social Linked Data. Here is a quick breakdown of how it works. The idea is that rather than give their information to private companies users store their private information in a Pod. A Personal Online Data Storage unit. They can store their name, addresses, phone numbers, etc. Any information related to your online identity. Pods are encrypted and can be hosted wherever the user wants. On their devices, servers or even possibly on a blockchain. The ultimate goal is to be able to connect to Web apps using a button like this. But because we remain in control of his data We can granularly control which application has access to which information. The ultimate vision could look similar to how we manage notifications on our phones. You have this list of apps and you can choose the type of notification each of them can send. This would be the same but with access to information instead of notifications. Solid is a new project. It is under construction. You can try it at this address. but to be honest, it is not very good right now. It doesn’t work very well. However, there are many other projects in the world of cryptography such as Civic, Uport, and Blockstack aiming to solve the same problem each in their own slightly different ways. But the idea remains the same: people are in charge of their data. This brings many benefits. The first one being no more forms. I don’t think anyone likes to fill forms. It is repetitive and frustrating. The idea with decentralized identity is that you will write your information only once and everything will connect from there. Next, cryptography gives us more control over our data. Last year, I explained why credit cards as a payment method are completely outdated Because when you use your credit card You give the merchant the password to your money. by giving away your credit card number, expiration date, etc. With this information, the merchant can charge me as much as he wants without my consent. This is why there is so much fraud with credit card One of Bitcoin’s many innovations is that instead of giving away the password to my money I cryptographically sign the transaction. The signature is valid only for that transaction Making it impossible for the merchant to charge you again without your consent. If you think about it, we have the same problem with identity. When I give my Social Security Number to a website I give them the password to my civic identity. They will save it on some unsecured server and after a while, it gets stolen by a hacker. Why couldn’t we use cryptography so that rather than giving away the password to my identity I could cryptographically sign a transaction proving I am who I pretend to be. And then no one can steal my identity. Finally, decentralization is much safer. As I explained, no system is completely secure. There will always be data breaches and hacks. We can’t promise that no one will access your Pod. But at least, because that data isn’t stored on some centralized server we won’t see cases where a hacker breaks in a server and steal 150 million social security numbers. To steal 150 million decentralized identities, someone would have to hack 150 million pods which is pretty much impossible. This should help solve problems such as data hack and surveillance. I’ve shown a slew of new layers for the Web’s infrastructure Payment, storage and identity. Doing this should also make developers’ lives easier. Consider an app like Uber. To build such an app you need to assemble a lot of components such as a payment, storage, and an identity management system. Then, another company like Lyft comes along with a similar app. They need to build these components all over again. There is a lot of duplicate work. Pay attention this is an important point The idea of Web 3 is to take out these components decentralize them and give them back to the users. So the user wins here but so does the developers. because Web 3 applications will connect to these components. so each of these only needs to be built once. If Uber and Lyft don’t want to use these decentralized components, it’s fine because the decentralized versions of Uber and Lyft will use them. This is the kind of solutions that should help overcome the monopolies by making it easier for developers to build apps because of all these new native Web components. Now, what does Web 3 look like? How do we use decentralized applications? I’ll talk about the browsers. There are many ways to browse the Web 3. There are extensions we can add to the browsers such as MetaMask. There are new browsers like Brave. There are Web portals like MyEtherWallet and there are mobile apps like Coinbase Wallet I want to talk a bit about MetaMask because I think it is one of the most elegant solutions so far. It is an extension you can add to your browser such as Chrome or Firefox. Once added, you get this small icon in the top right corner. Then you can connect to your wallet giving your browser a whole lot of new capabilities to interact with blockchains such as Ethereum Thus, enabling you to use Web 3 applications. Brave is another project worth mentioning. This is a project by Brendan Eich an incredibly important figure who co-founded Mozilla, Firefox and invented JavaScript. His new project is called Brave which blocks every ads and tracker by default making it the fastest browser on the market. It is about 4 times faster than Chrome. Brave has been developed to work with a cryptocurrency called Basic Attention Token. When I use Brave, for example, to watch YouTube I can click on this top right icon which gives me access to my Wallet. With this, I can tip money to any content creator online. It could be a youtuber or a journalist. as a reward for their content. There is also an auto-contribute feature which lets me set aside a certain amount of money per month. Once this is done, I can browse the web. and Brave will automatically share the money to the different pages I visit. Brave is currently available on desktop, tablets, and phones both on Android and IOS. It has 5.5 million monthly active users It is a great project which I would recommend you try using to give you an idea of how this works. Ultimately, Brave aims to revolutionize advertising using blockchain and cryptography creating a decentralized market for advertising which protects user’s data. This is the kind of project that should make us less reliant of advertising on the Web by facilitating paying for content straight from the browser. In conclusion Today I presented the evolution of the Web How we went from the Web 1.0 which was “read-only.” Then the big tech companies appeared. They made it easier to use but also centralized it along the way. Now, Web 3 will allow us to interact with each other without any intermediaries. It will re-decentralize the Web. For most people, this will be a slow and nearly invisible transition. because most of the changes will be at the infrastructure level. For most people, there won’t be a lot of changes. They will probably need to learn how to use a wallet and interact with blockchains Maybe they will need to use different browsers. But things will remain mostly the same on the frontend. If you think about it, society has always been a back an forth between centralization and decentralization. For example, back in the cavemen days Everyone was on their own. It was the survival of the fittest. Eventually, people understood they were stronger and more efficient together. So we slowly started gathering in tribes and societies. which culminated with the monarchies where kings ruled over everyone leading to terrible power abuses. People got fed up. They revolted and cut the kings heads. leading to anarchy After centuries of back and forth between the two extreme we came up with a balanced enough system which is democracy. Which possess both centralized components such as a president and decentralized components such as a vote for each citizen. If you think about it, it is pretty much the same with technology. We started out with these huge centralized mainframes who took up entire floors. After seeing the weaknesses of such a system we created decentralized systems such as the Web 1.0. Which was great, but also hard to use. Then the big companies came in and made the Web more accessible Such as Google, Facebook, and Amazon. This was Web 2.0. Let me be clear: I don’t think these companies are bad. I believe they made incredible contributions to our lives. and to the Web as well. The idea of Web 3 isn’t to replace them. It is simply to push things back towards decentralization. To re-establish the balance of power so we can make the Web a little bit more democratic. This will be incredibly important considering where we are going with the Internet of Things where every object in our house will be connected to the Internet Think about the Nest thermostat. Nest is a smart device that gathers data about you Sensitive data such as in which room you are and when. In 2014, Google acquired Nest. This worried a lot of people about whether Google would be using that data. So Google’s CEO stepped in and made a lot of promises about building safeguards and privacy policies to protect people. I believe Sundar I know he is well-intentioned. But why would I need to rely on his promises to get protection from my thermostat? Before Nest, I didn’t have to worry about my thermostat sending my private data online Why should we rely on promises from Google or Facebook or Mark Zuckerberg to protect us from their tech? While Web 2.0 was about relying on promises such as “Don’t be Evil.” Web 3 is about changing the infrastructure. Changing the rules of the game. To build a Web where people in power and big corporations “Can’t be Evil.” Thank you so much. This is the end of my presentation. I think we have a lot of time for questions. Any questions? What is the difference between Web 3.0 and the peer-to-peer that was here before? I would say the difference is there are new layers of technology added to the mix. such as the blockchain and the consensus algorithm. It is true that cryptography and peer-to-peer are big components of Web 3. These two have been around for decades. But I would argue that now they are back in the spotlight. For instance, Bitcoin led to tremendous innovations in cryptography. And so has peer-to-peer. Bitcoin brought back the focus on these technologies. I think people mostly forgot about peer-to-peer networking during the smartphone craze. Now it is making a come back There are increasingly more developers coming back to this technology. I’m wondering about China and communism. The fact that people now use cryptocurrencies. as a way to protect themselves these systems. So they can have freedom with their money and protect their identity. Some people in China and Venezuela can’t manage their wallet. Their priority is to eat and survive. They have other things to do than manage their wallet. Do you think crypto can help against communism and lead to an equal society? I think the Chinese government hates cryptocurrency. Because it limits the power over the citizens. Earlier I mention how Web 3 will make the transmission of value global accessible to everyone at any time. In the end, crypto is all about mathematics. When you use Bitcoin, you trust in mathematics. And math is the strongest force on earth. It doesn’t matter how big of an army you got. 2 + 2=4. You can’t change that. Crypto is a global safety net. As long as you have access to the Internet You can use it. This is why China is trying to block it. But at the same time, I believe they are building their national cryptocurrency. But they will maintain full control over it. Soon we’ll need to make a choice between building government controlled money or not. As our money becomes increasingly digital it takes dangerous proprieties that cash didn’t have. For example, I can hide cash under my mattress so it is not confiscated by a totalitarian government. However, with digital money, someone in power could decide overnight to freeze the money of every one of a certain race or religion with a single click of a mouse. Digital money brings a centralization of power that is quite scary. A lot of people complain that Bitcoin enables black markets. This is true. In North-America, black markets are usually bad. But in other places in the world. Black markets are sometimes for things that are just basic human rights. This is why this is important. I chose to talk about Web 3 because these are developers spending their lives to help us out. To protect us from future abuses of power. Blockchain is a threat to China. Regarding the big tech companies. Because you’re an insider, you probably have an interesting opinion. They are at the top of their power. What do they make of the Web 3? Do they see it as a threat? How do you think they will react? Are they worried about it? I can’t say much about Google except that recently they announced they would be indexing blockchains starting with Bitcoin & Ethereum Searching for blockchain transactions on Google will be possible. So we know they have an eye on this. Facebook is interesting. For years there was a rumor that Facebook would build its cryptocurrency. Recently Mark Zuckerberg announced he was interested in cryptography and decentralization. They had so many scandals over the years People are waking up. I believe that if Mark Zuckerberg was 22 today. He would probably be building a decentralized product. Mark Zuckerberg is extremely intelligent. He knows what is coming up. He can’t decentralize Facebook because he is responsible for thousands of employees and investors. So he is in a difficult position. To open up to this technology which is fundamentally opposed to his business model. Recently, Facebook announced they plan to launch their cryptocurrency which will first be available on WhatsApp and used for remittance payments. This will be huge because sending money in other countries is hard. Banks take huge 20 to 30% cuts on these transactions. This could bring the cost down to pennies and make it instantaneous with Facebook and WhatsApp This is already revolutionary. But the question is: How much control will Facebook keep over that money? Are they building a truly decentralized currency? To be used in their applications? Or will they keep some control? Making them more like a bank? This is a fascinating question. Facebook has proven over and over again that they can overcome everyone’s expectations. So I’m excited to see what they are going to do. What happens if someone who has crypto dies? When they do, if the private key is lost. The money is lost. Same goes for real estate or business contracts. We will need to solve this issue. We can’t build any backdoor, because this defeats the purpose. How do we solve this issue? This is a great question. There was a big issue recently, with QuadrigaCX, the biggest crypto exchange in Canada the owner apparently “died” and he was the only one with the keys to the money so everyone’s money was lost. As I said, you can’t beat mathematics. If you lose your key, the money is lost forever. These are difficult questions. How can you pass on your crypto as an inheritance? You can’t put your key in your will because this could compromise the money. Because crypto is programmable money. We could create an automated will with a smart contract that can transmit the money depending on whether certain conditions are met. This sounds easier than it is. But how do you verify that the conditions were met? How can a smart contract know that the person is really dead? There are a few ideas to solve this. Maybe you can verify by having a few members of the family sign a transaction to confirm that the person is really dead thus activating the will. But this brings other problems what if the family members also forgot their keys? This is the tough questions that people are trying to solve right now. I believe we will eventually solve them and at some point, most contracts and wills will be entirely automated with blockchain and smart contracts. I’m going on a tangent I was listening to a discussion with Jeremy Gardner, the co-founder of Augur. People are freaking out about how AI will destroy jobs. People don’t realize that blockchain will do the same. Think about it. If we can program money and contracts. Notaries, accountants, bankers. Everyone whose job is to count or move money around. Even lawyers. This is far away, but in 10, 20, 30 years. At some point, all these jobs will be automated by smart contracts. Software engineers will replace them. I recommend going into engineering if you can. This is the job of the future. 2 minutes left. Here is one last question. If those in power will be replaced. Historically, when this happens. It brings a new aristocracy. Who is this new aristocracy? Who will finance this? I don’t see the banks being on board with this. I don’t see the governments being happy with this “controlled anarchy.” I also don’t see the big tech companies like Facebook and Google doing major changes and risking all of their sources of revenues. Who will build all of this? You might say its the developers who are thinking about us. I’m not sure I believe this. Where will all the workforce required to build this come from? And fight off the private interest who don’t want this? I’m thinking about decentralized advertising You don’t know where it comes from? I believe this will come from the developers. If you think about it, the Web was built this way. Tim Berners-Lee could have patented the Web. He could have made millions from this. But he didn’t. He just gave away this fantastic technology. There are a lot of people just like him. They do it because they care about it. The banks and big companies are also funding this. They hire and train developers to dabble into the blockchain. At some point, these developers realize what they are working on is shit They understand decentralization is the whole point of this. These companies are training the next generation of developers who will ultimately take them out. Then there are companies like Facebook where I have no idea where they will go with this. Governments like China are against this. The US government is on the fence. Some other countries are very open to it. Every country will take its stance on this. I believe at some point Governments will realize how powerless they are against this. People can decide to not pay taxes, and there is nothing they can do against it. When this happens, we’ll see a lot of governments ban cryptocurrencies. I have no idea where all of this will go. But this will be extremely interesting to see.

2 thoughts on “Introduction to Web 3 – Tony Aube at WAQ19

  1. Don't forget to turn on English closed captions if you don't speak French! Links to Twitter, Medium and SlideShare in the description, if you want to download the slides. Enjoy!

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