Welcome to Web3 Data Alliance

Welcome to Web3 Data Alliance

Welcome to the Web3 Data Alliance

WIP - Manifesto

A - WIP - Manifesto

This is still in draft, comments welcome. Does this make sense?

V2 is located here:

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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Update Planet Transaction Rails Alpha - Patch Notes 2024.7.1

Large companies finally have an SOP for integrating Network Ledgers

Implemented Regulatory Clarity in some jurisdictions around Network Ledger based Assets. (Implementation not finished)

The EU stopped Apple “walled garden” approach, paving the way to larger

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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. Economic 'users', both business and consumers, should be seamlessly integrated into a type of data layer that works for the users rather than extracting from them.

All modern day applications and generation of data rely on trusted data, of which Networked Ledgers are one of the few that enables verifiable trust.

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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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It is not just a technology but combined with other new technologies, enables value flow to be more seamless, by becoming more efficient and trusted. We do this by turning to computers and network participants to underpin and maintain the ledgers that the economy runs on, thus the planet.

Rather than traditional institutions and processes in place, we establish P2P rules and trust that does not rely upon outdated systems. This allows value to flow where it can flow most freely, much like the natural laws that govern our existence.

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.

When talking about value, it is clear through the adoption of Crypto (Bitcoin, Ethereum, USDC) that retail can use this technology as they have been, but it is also clear that most of the transactions happen where it is easy, not where it is most decentralized.

Within the economy, most transactions are not consumer to consumer. Transaction and value exchange largely exists between consumers and a business. Consumers, 'the people', can not survive without exchanging with a business within the current setup of society. 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.

Relevant Instagram story:

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

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Thus businesses also need to adopt Network Ledgers - become 'onchain' - if the consumers are to really use the technology - transact onchain. However as we have seen with the technology, business have been slow to adopt this, something I have thought about for a long time over at Blockdata.tech.

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.

—-BELOW STILL NEEDS WORK

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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