The Innovation Within Web3

From the start, I was a fan of @spinvest. To me, this captured the essence of what cryptocurrency is all about. When designing a new system, we start with the idea of healthy returns. Much of this is due to the removal of intermediaries, those companies that are taking their cut of the action. Few seem to realize how much this affects profits.

Over the years, we saw more tokens rolling out, all tied to projects within the Hive ecosystem. Many focused upon returns, taking a long term view of things. Some have weekly payouts which provides strong yield, something that generates wealth over time.

Obviously bear markets are, well, a bear. They can be a challenge for all involved. It is difficult to maintain momentum with a project when everything is getting crushed. Here is where yield and building enter.

The old saying is you earn during the bear and get paid during the bull is applicable.

In this article I want to highlight another project that is rolling out. Please note this is not a validation or suggestion to anyone about the opportunity. Instead, we are looking to highlight the innovation.

HBD, HIVE, and Tokenization

There is a new token rolling out that is backed by HBD. Essentially, this is providing another use case of Hive's medium of exchange.

As we can see from the graphic, we have HBD backed this new token which is used to distribute another token which (not shown) is backed by HIVE.

How is that for creativity?

On top of that, both Hive coins are earning a return, while also building stake on chain, something that will amount to a higher yield down the road. The account behind these projects are growing their Hive Power in an effort to establish a basis for a larger fund.

Obviously, over time, as the distribution declines, the payouts for the token holders, in terms of a return, will increase.

Throughout the past 2 years, I wrote extensively about the Hive Financial Network. This is an idea of what can be done. Granted, we are seeing this occurring with the present tools available. Just imagine what might occur with synthetics or collateralization available.

The point being is Web3 is about innovation. This can come in many different forms, focusing upon a variety of areas. Here we see financial experimentation taking place. There are many layers for people to focus upon.

Innovation is our ally. Freedom means testing things out and seeing what works. The present system deters this, act least for individuals. Perhaps the banks are allowed to do it but the rest of us are prohibited.

Cryptocurrency changes all this.

Massive Experimentation

Web3 would be much further along if people would focus upon experimenting as opposed to just focusing price. This is where I see a serious downfall.

The project written about here is small, does not have much of a following, and certainly isn't dealing with, proportionally speaking, a ton of money. What it is doing is finding out what works while utilizing the tools available. This provides some insightful knowledge as new tools are introduced.

We need people to engage in this a thousand time over. Without experimentation, a new system is not going to occur. For some reason, it seems people want to leave it to others. Of course, they are baffled when they get nothing and others are cashing in.

Start the process of innovation. Whatever you are doing, try something different. The old rules no longer apply.

It is time to cast off the mindset of Web 2.0. Sadly, when I look around, even people who are using Web3 appear to have that mindset. We are talking about ideas such as ownership which introduces a new element into everything.

Even thinking about returns in line with the established system. So many believe that a rate of 20% is unsustainable. What is that based upon? Most derive it from the returns of the present system, not realizing that a couple percent often heads out the door through the financial intermediaries pulling their piece of the pie out.

All innovation starts in the head. If we want to expand Web3, it is time to stop thinking like Web 2.0. On top of that, start the process of using the tools before us. Even if they are archaic, simple systems can be set up that lead to larger ones down the road.

Here we have one example.

Article by @taskmaster4450le

Posted Using InLeo Alpha