Watch out Facebook, Instagram and YouTube Blockchain is coming for you

A number of converging trends have accelerated the idea of ​​blockchain. Covid has forced us to wrap ourselves more in our digital personas (Facebook, Zoom, Amazon, etc.) and managing them is time-consuming and tedious. At the same time, we see a decreasing degree of trust in institutions and their ability to serve and protect us. We rely less and less on our centralized systems to take care of us and what we need. The emergence of even more self-determination (gig economy, relocation jobs, life balance) they feed off each other to drive a greater sense of self-confidence in everything we do and are represented by.

Web3.0 is not just an incremental shift in our virtual experiences, it is a giant leap.

Web1.0 was a basic idea of ​​reading and accessing information online. Web2.0 was about expressing ourselves online. Web 3.0 is about fluid management of everything we do and ten years from now. Web3.0, blockchain will drive each of us to have a digital ID as our primary ID. This means that our various identifications on social platforms will be fluid. The social media platform will have no control when you move your ID, your private blockchain wallet around from place to place. This could be the end of the platform age, Web 2.0. See my deeper dive on this published on Forbes here.

The conversations today are less about the social media platforms that dominate our personal expressions, but shifted away from the platform economy that has dominated Web.2.0 to the open source self-identification economy that will dominate the next ten years. This extends across the financial and healthcare sectors and even how governments maintain supreme control over the value of almost anything as each of us becomes our own market (physical and virtual) protected by our own digital wallet and the power of blockchain technologies.

This will drive a whole new sense of value, identification, privacy and completely restructure what assets we own, trade and lend against. If cryptocurrency is one of the first distributions for blockchain, it might be less important ten years from now. Blockchain will allow us to reclaim our own agency. Below are four upcoming ones that we can look forward to:

· Social media platforms are becoming obsolete as blockchain enables the complete movement of who you are (in part or in whole) from one environment to another. The business models that have reinforced the idea of ​​platforms will be severely eroded by the open source constructs of blockchain,

· Financial institutes will move from monolithic paper-based systems to self-deterministic back offices where the customer owns their financial documentation in a blockchain process. In fact, we will have tokenized assets through blockchain. Consider NFTs for your mortgage securities.

· Patients will own our own records for all healthcare services, and we can each decide how to sell which parts of our data with or without our digital IDs.

· Most of the world has access to a mobile phone, but billions of people do not have access to banking services. The idea of ​​blockchain is to make it possible for almost everyone to have access to banking services.

Blockchain is not just a new currency model. It is a new way of thinking about oneself in a digital first world. Think about the ability to manage, own and feel confident about all the data that exists around you. Imagine having the ability to only have to provide fractions of data about you for identification purposes or being able to sell specific and often small fractions of data about you that you own.

Tim Tully is CEO of Zelcore, the world’s first gateway for Web3. Zelcore offers the easiest way to navigate all major exchanges and blockchain protocols, empowering people to quickly find, manage, trade and truly own their digital assets and information. Tim has over three decades of experience in senior leadership roles at some of the world’s largest financial institutions, including T. Rowe Price, BNY Mellon Wealth Management and State Street.