Welcome to Web3 Data Alliance

Welcome to Web3 Data Alliance

WIP - Manifesto

A - WIP - Manifesto

The migration of value record keeping to Networked Ledgers is underway.

Blockchain / crypto / DLT = Networked ledgers to remove the hype word and make it more 'boring'

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There is a strong natural desire to store information in a distributed way rather than centralized. This is for the simple reason that it makes the economy simpler, reduces costs of transactions and reconciliation, while making it more accessible. It enables the abstraction away of data from many use cases, while enabling querying when needed thanks to trustless transactions settled on a networked ledger.

With the current state of the planet, society and the economy; the uprising and integration of Networked Ledger technology is one of the next big transformative moments of the planet. The technology enables value flow to be more seamless, by becoming more efficient and trusted.

All modern day applications and generation of data rely on trusted data (which we have a lack of).

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Helps Humans ask questions to data.

IOT

Generates data from machines

Quantum

Enables quick computation of data

AR / VR

Helps humans interact with data

Networked Ledgers

Creates trusted and verifiable transaction repositories.

Thus under pinning all other applications of data.

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Enter, Networked Ledgers.

Enabling verifiable trust.

By establishing trustless transactions, value flows more freely, as opposed to being expensive, slow and siloed, in the current outdated systems (of which there are many). By establishing trustless transaction, this will generate the evolution of a better state of society & economy, like the natural laws that govern our existence, causing the extinction of outdated systems.

Network ledgers will power the planet's value exchange layer.

It is due to the concept of evolution, it clearly is the way forward for our economy, which provides services and supports society. Not a matter of IF, but WHEN.

Networked Ledgers are already proving to be faster, cheaper and more secure than these outdated systems.

But adoption is lagging. Transactions in the economy still happen where it most easy, and more often than not, on technology that does not even attempt to be decentralized.

The main relationship of value exists between consumers and businesses. In the current society, consumers, aka 'the people', cannot survive without a daily exchange with a business. They must exchange ‘value for value’: cash for food, services for cash. Without this participation, society will not operate, people will not have food, infrastructure will not be maintained.

P2P

Many small transactions for informal services

B2C

Many small - mid transactions for people to pay for formal services.

B2B

Lower amount of large transactions between entities for formal services.

Transaction and value exchange largely exists between consumers and a business on a shared infrastructure.

Relevant Instagram story:

https://www.instagram.com/reel/C5dJzkRIFbR⁠

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However, this next generation infrastructure is plagued with false promises, poor communication, lack of product market fit and most importantly - inaccurate information about:

What is something?

What does it do?

Where can it be used?

If we are to have the businesses transact onchain, (something we all want) the answers to the above need to be clear, simple to understand and uniform.

[the ecosystem is ready for this]

If we can get the world to transact onchain, (something we all want) we can unlock value flows and utilising the full potential of all new technologies.

Thus, If we can get businesses to transact onchain, (something we all want), we can get the world to transact onchain.

So...

will you join us in trying to make a standard that will enable society and the economy to onboard onto Network Ledgers / Blockchain / DLT / Web3 or whatever the fuck you call it.

—- TRASH LAND

However the underlying trend is there. To adopt network ledgers there is a hurdle as there is a lot more that goes on then just sending value from A ⇒ B. There is overhead that goes into making sure the services meets a requirement, that it is quality, procurement, integration, invoicing and compliance costs.

These are all costs that are not in a transaction but are around it, to allow that transaction to happen.

Thus if they can’t find where they can use it, then that is standing in their way.

Often it is all 'metadata' associated with a transaction, the context, reason and its participants. Thus for businesses to adopt it, this metadata needs to become available and also onchain, the term oracle comes into play here which is just short for 'trust provider'.

It is common here for the debate of 'permissioned' VS 'permissionless' nature of blockchain to come up at this point. Via the grid, we are not advocates for either system but rather provide information to enable both worlds. Up until 2023, regulators have let crypto (mostly permissionless) grow without any many headwinds only stepping in when needed. However due to permissionless nature, many bad actors have come into play, various undelivered promises have happened leading to many consumers and business loose assets.

This has had the effect that:

The perception of society on the technology was impacted, leading the average person not wanting to engage in the technology

That regulators are now coming in, forcing the ecosystem to be ‘compliant’, in the hope of safeguarding investors & users4

The reality is that no-one gives a shit about HTTP or Databases, but they all use them as the value tends to be wrapped up. In blockchain it is very 'raw' as it not actually a consumer technology, it is a business technology. However business have been very slow to adopt and integrate it.

Why is all of this important?

Economic 'users', both business and consumers, when it comes to blockchain use a different toolset to discover and integrate the products that they invest in and use. It's not as simple as googling and finding a SaaS tool. Adoption of blockchain is harder than other technologies due to it's inherent qualities. You need to answer questions like; Does this support the tech I want to use? Is it legal to use this where I am? Does this solve my actual problem? Is this a real project?

Thus there is an increase in these tools that help users discover and understand what is available to them, we bundle all of these into 'Data Platforms'. These data platforms provide the 'window' that users look through to understand what is going on within the Blockchain world. These windows therefore provide a critial function to all users who want to or are already interfacing with the technology.

There are 3 main datasets that go into crypto assets and service providers. Pricing, On-chain and Metadata. The latter is currently underserved as traditionally it is considered a 'moat'. This has had the consequence that everyone tries to do it themselves which has mean't that no-one has done it well as it requires focus and scale to solve efficiently.

This is why a solution must come to market that levels the playing field, bring up the quality of data across the ecosystem to enable mentioned data platforms to better service their users, thus leading to more understanding and adoption of the technology.

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