Author: Kim Belard

I recently watched some recent congressional hearings on cryptocurrency, and, boy, if there is anything more interesting than watching experts trying to educate most members of Congress on anything related to crypto, it might be me trying to explain it .I don’t have any Digital assets, Still did not see the point NFTAnd I won’t Buy any real estate in Yuanjie.

In summary, Web3 has some things that fascinates me. Knowledgeable people are talking about Web3 “reshaping the Internet” and “democratizing” it, giving people more ownership/control of what they do on the Internet. This strikes a balance with the way the Internet—including traffic and infrastructure—is increasingly being dominated by a few very large companies such as Google, Facebook, or Amazon.

As Web3 Foundation Statement, Web3 is an Internet, where:

• Users own their data, not the company
• Global digital transactions are safe
• The online exchange of information and value is decentralized

All of this sounds very interesting to me, especially because there are people who are isolated on how health care isolates information, pay too little attention to patient ownership of their own data, and are eager to centralize.

If I’m not mistaken, the core of Web3 is the concept of distributed ledger-that is, blockchain. Information is not stored in one place and controlled by one entity, but across these distributed ledgers. Activities-transactions, changes to source information, etc.-update the blockchain, save historical records and verify the activities in the distributed ledger. Due to its distributed nature, people who want to change or use your information without your permission face a huge challenge.

On the distributed ledger, you can make transactions (for example, buy/sell), using “Smart contract,” Participate in social networks and many other interesting activities. If trying to do anything quickly through a distributed network sounds daunting, Bloomberg Report:

Operating through a distributed network may be clumsy, but the user experience is getting better and better. “It’s too early, but it has changed in the past six months,” said founding director Jonathan Dotan. Myna Lab.

To help, there is a related concept of “distributed applications”, which I think is related to Web3, just like applications are related to Web 2.0.There is even a “dapp store” called Application radar Claims to allow you to “discover, track, and trade everything about DeFi, NFI, and games.”

We have seen DAO (Decentralized Autonomous Organization) help create/run Web3. “I think the DAO will be as ubiquitous as today’s companies, clubs, non-profit organizations, and different types of’official’ organizations,” said Maria Shen, a partner at a venture capital firm. Power capital Tell Bloomberg.

Funding surges for blockchain-based startups; CB Insights Report It will be $15b in 2021, an increase of 384% over 2020. Wall Street Journal, Christopher Mims notes:

Almost all companies that use “Web3” or “blockchain” on their propaganda platforms describe their mission as a user-centric pursuit to empower users — and often enrich — their users so that they can become There are as many customers as owners and investors.

That. Yes. Intriguing.

We cannot leave Web3 without discussing tokens, many of which are associated with digital currencies such as Bitcoin. This is not entirely incorrect, but it is also not entirely correct. Digital currencies are associated with specific platforms—for example, Bitcoin and Ethereum run on different platforms—but tokens are digital assets that transcend platforms.

Cryptopedia Say: “Tokens-also known as encrypted tokens-are value units developed by organizations or projects based on blockchain on top of the existing blockchain network.” It went on to clarify:

• “Usually, encrypted tokens are programmable, permissionless, trustless and transparent.
• Although like cryptocurrencies, encrypted tokens can be preserved and exchanged, they can also be designed to represent physical assets or more traditional digital assets, or some kind of utility or service. “

For example, tokens can be used, such as “voting shares” to help manage dapps or other structures.

This led to Mr. Mims Also discussed As one of the “Inspired Weirds of Web3”:

If money can be code, then money is not just a means of exchange; it can also do anything other software can do.

This core insight, which is a certain E = mc equivalence between money and software, is why true believers of Web3 think it will have a huge impact. Suddenly, every activity humans engage in, from buying and selling houses to liking posts on social media, can become part of a token-based financial system. The scale and complexity of this financial system make things look like today. It looks like an antique.

I like the “E = mc² equivalent between money and software”; no wonder people are excited about Web3.

Not everyone is a fan.On the one hand, generating some blockchain requires Huge computing power, Which has many impacts on the environment.On the other hand, it can be a way Circumvent regulation, This may be a problem in areas such as finance or healthcare.

What’s more disturbing is that, as Professor Cornell said James Grimmelman Tell NPR:

Web3 is steam software…it doesn’t make any sense. Vision says that the problem with the Internet lies in too many centralized intermediaries. Instead of having many different applications and sites, we will put them all on the blockchain and put them all in one place.

Web3 must be bigger than blockchain.

I don’t know what Web3 is for healthcare, but I have some ideas. Of course, we own and control our health records, and the idea of ??storing them on the blockchain and allowing them to be viewed/added should be attractive to anyone who has to fight or access their records. This will be a necessary but insufficient component of healthcare Web3.

Imagine that if you want, you can interact with the healthcare system at any time in the future. This interaction is not only stored in the blockchain record that you control, but you can also earn tokens for that interaction. Imagine that all data from your fitness or other trackers will also enter the blockchain record and earn more tokens. Imagine all the tokens that give you the right to vote in the governance of the healthcare system.

We are not on Web3, and we will not get there anytime soon. In addition, experts predict that Web3 will replace Web 2.0 and will not be included. Nonetheless, as Esther Crawford, the project manager who helped Twitter evolve to Web3, Tell NPR: “For a long time, Web3 has been very theoretical. But now the construction momentum is strong.” Ignore it at your own risk.

I can’t wait to see who will build what Web3 for healthcare.

Kim is the former e-marketing executive of the main Blues project, editor of the late and regrettable Tincture.io, and now a regular contributor to THCB.