We continue to see transformation happening before our eyes.
For more than a year, I believed X has served as a model for Hive and the potential it carries. We are seeing Elon Musk take a Web 2.0 platform and expand it out beyond its traditional boundaries. This is exactly what Amazon is doing.
The message here is clear: a digital platform can enter most any market it wants.
It is a lesson for Web 3.0. While there are some stark differences between the two, the basic functionality is the same. In fact, the major separation, in my view is ownership.
X As A Telecommunications Platform
We could see X moving outside the realm of taking on Facebook and YouTube. Instead, it could challenge the likes of AT&T and British Telecom. It could be entering the realm of telecommunications .
Here is a tweet that Musk sent out the other day.
While there are few details, it is evident where this is going. The fact that the platform can already handle voice communication via Spaces means that it is likely that it will move into "peer-to-peer" voice communications.
Of course, this only enhances the value of the platform and the X account.
There is naturally a downside to this. As with all) Web 2.0 platform, if one gets the account cancelled, there goes all ability to communication, at least through this medium. With the telephone company, I haven't heard of service cut off for any other reason than failiure to make payment.
The same is not true in the social media realm.
No matter, that is up to the users who decide to go with this service. The point here is that, 24 months ago, how many could have thought about Twitter as a phone service provider. While there will be limitations, it is another example of where the traditional industry lines blur.
The Lesson For Web 3.0
A Web 3.0 platform evolving into a telecommunications medium might be a challenge. Without knowing the technical details, I would imagine dealing with voice communications makes these even a great deal more difficult.
Nevertheless, the concept is the same.
It is too easy to fall into the idea that we are entering a particular sector or realm. People are starting to size up Web 3.0 platforms for, as an example, social media. In my opinion, this is extremely limited.
Actually, the goal, as Musk is showing, is to become an epicenter for activity. Web 3.0 regularly focuses on getting more users simply by marketing, social media promotion, or word of mouth. What get overlooked if the fact that more utility attracts users.
Web 3.0, overall, is lacking in services. This is the major drawback. Some of it is tied to holes in infrastructure which people are working upon. However, a great deal of this issue is because people are not concentrating on the services that will appeal to people.
Let us use X as the example again.
It is filing to become a money transfer agent in the United States. At least count, it had 37 of the 50 state licenses. Once it reaches the level it requires, it can implement a digital wallet system, similar to PayPal.
Now we couple this with the "phone" service concept.
While neither of these is likely to be absolute for an individual, Musk aside, it could garner a great deal more activity. Naturally, all of this is feeding more data to Elon's servers, aiding in the second layer of the entire digital process.
Think Bigger
If Web 3.0 is going to truly succeed, we need to grasp the potential of a network ecosystem. Musk's vision should be standard for every Web 3.0 platform that is built.
Unfortunately, we have teams that are still mired in the segmentation mindset. People look at things such as media, social media, retail, entertainment, or news.
The reality is that all of this should be targeted with digital platforms. It is what the major Web 2.0 entities are starting to do. Musk is simply getting ahead of many of the others by delving into different sectors rather quickly.
It is a concept that starts to make sense when we view things through the lens of the network-state. Here we have a simple choice: do we have our own services (and data) or are we dependent upon someone else?
This is akin to a nation that provides its own manufacturing and agriculture as opposed to importing everything from other nations. Those that are self reliant tend to fare better.
Web 3.0 appears to not have learned this concept. It wants to take over yet seems intent on utilizing the existing services that are out there. Each day, millions of "Web 3.0 proponents" take to Web 2.0 to discuss it. Yet, if we look at what they are doing and the services utilized, we see how the attention economy is not shifting.
Of course, all of this takes on new meaning when we consider the fact we operate in the information economy. That is what networks generate.
Digital platforms are extremely versatile as long as those involved are willing to build in that manner.
Another clear cut lesson for Web 3.0.