Welcome to Web 3 Digest 

Transcript 

Find below the transcription of the video from Amit Vyas and Andrew Thomas.

Andrew

Are you good? 

Amit

Good, very good mate. Good to be on this show. Brand new show.

Andrew

Brand new show, yeah. Brand new show. So, guys, this is our brand new show. We will get the name out there right at the top of the show, which is...

Amit

The Web Three digest. 

Andrew

Amazing. Yeah, so digest for those of you who don't know, it's a reference to a reader's digest.

Amit

Yes, this is really kind of a setup for a bunch of old folks like us.

Andrew

Exactly. Really don't understand the space, don't understand that. No joking aside, we thought that it was such a catchy name "Web 3 Digest" that it would be good to lift off instead of "the show." Right? We fancied - we've got a Growth Show.

Amit

We so yeah, and also I think the nature of this show is very much adjusting, it's digestible, it's 15 minutes maybe, and it's kind of short and I got out and I think it works, it works. 

Andrew

So look guys, we want this first kind of 15-minute burn is really about why, right? Why? And what? So first and foremost, kind of why we are doing the 3 Digest and what it's gonna be about basically. So I think first and foremost, possibly, you know the "why," Right? Obviously, as you know, myself and Amit have been on this huge kind of hockey stick learning curve and been fully immersed in a kind of web three space over the last couple of months really, but taking a huge deep dive, and interestingly, you know, because we're on that path now, I think everyone that I know: family, friends, colleagues, people climbing out of the woodwork and yourself.  You know, not liking yourself to a doctor and people come up to you and go "I've got a bit of an itch," right? I think you, like me, are now getting a lot of questions, right? 

Amit

Yeah, it's nonstop. I think you know, like with the early days of social media, I guess, it's as if we almost go back to that Web two and I think we'll talk about defining what this is, but people were kind of fascinated by it, didn't really know what it was, didn't really know if there was any kind of relevance to them. I didn't know if there was any kind of commercial relationship between social media and their business and I think they come to us, I think typically just because we've been in this digital space for hundreds of years it feels like, in digital years. It's kind of, people do tend to turn to us and say "Okay, what is this about?" 

Andrew

Exactly? 

Amit

Is this something I should be paying attention to and if so what do I do, what do I do, what's the next step?

Andrew

What's the next step?

Amit

And I think from outside, this is really kind of what we do in terms of looking at sort of complex or semi-complex kinds of things that are happening in our space and sort of breaking them down and making it a little bit more kind of digestible for people to kind of really kind of understand and take in and apply to their own work. 

Andrew

Yeah, 100%. So we kind of spun the idea when we're in South By over in the States and we were like a couple of excitable kids, you know, finding out so much new information and as always, you know, we like to share this right? For those of you who watch your growth show, you know that it's kind of warts and all - we're very honest, open talk about everything and anything, right? So we wanted to kind of frame this a bit differently as far as, you know, dedicating some time to this space because we feel it warrants it, right? That's the other thing. We feel that it's such an important, such an important part of the digital space moving forward. We want to do it, we wanted to kind of get it, get involved. And I guess that that kind of brings us to like, you know, what is web three? I mean we've obviously titled this Web Three guys because we feel this is an overarching, you know, an all-encompassing environment. But I mean, do you want to walk us through that? 

Amit

Yeah, I guess I guess from our perspective we really kind of define it and sort of break it down, we're talking about, you know, the new iteration of the web, right? So something that's evolved from sort of Web one and Web two, and I want to throw back at you in a second, but what we're talking about in this new kind of world is really the decentralization of the web and again, I think Andrew can help sort of define that in a second, but we're really talking about the kind of evolvement of Blockchain technology, Cryptocurrency, NFTs, potentially DAOs (decentralized finance) and really it's a convergence of all of these different elements and then on top of that we can also add in the metaverse. Right? So again, there's a lot of kind of buzz and hype around a methodist, there's a lot of kind of really kind of cool things that are going on from a brand perspective, but all of this is very much interlinked, so, you know, we don't want to kind of separate the metaverse from Web three - it's very much kind of integrated and kind of all in one in terms of technology. So really that's what we're going to be breaking down each week in terms of different aspects of it, maybe some of the kind of cool projects definitely happening at the moment opportunities, there might even be potential projects that we kind of like that, we feel have got some legs, you know, will kind of help you guys potentially get eyes on and perhaps even get involvement on. Um, but yeah, so I think this is going to be a really kind of dynamic and, and kind of, you know, really interesting show because it's just going to be talking about really things that are very kind of cutting edge and also in a format.

Andrew

And also as you know, guys, that's no, no BS, right. So there's, you know, we may have some complex jargon, but we'll always explain it. I think that what we learned very early on in this space is that everyone is open and everyone is learning. As soon as you kind of get into that realm of, "I'm an expert, I'm this, I know," you've got to kind of steer clear of those individuals, so we want to kind of bring you along for the ride, you know, and that means that, that we can, I think we're fairly good at breaking down fairly complex environments in a more easily digestible format. Right? Hence, Web Three Digest.

Amit

Yeah, and I think that's really kind of key, but I think Andrew, let's just again from an introduction perspective, you know, what is this new iteration of the web, different to the previous version. 

Andrew

Yeah, yeah. Look, I think obviously asking me this because I can remember when the internet was called the superhighway and obviously, Amit can't but,

Amit

The information superhighway 

Andrew

Oh sorry is that what it was?

Amit

Yeah, in the history books.

Andrew

Fell for my plan but it's fine. So, you know, very early on this was the formation of what we would class as websites today. So if you think back, can you imagine a time without websites? Yes there was, so obviously this was the formation of the web as we still know it today, right. So you're kind of traditional websites that are out there, either the company brand and then obviously how that's evolved as well into mobile, into apps, into transactional eCommerce environments obviously over time. That's seen as Web 1.0. right? So that's kind of where it sits in the history books as it were. Web 1.0  point was kind of the emergence of platforms that we're allowing you to produce content, create content, share content. Um, you know, in a space, first of all, kind of understanding things like Myspace, obviously, ultimately today, Facebook, Instagram Snap, LinkedIn, Twitter, TikTok now as well, but the real kind of issue with those, that kind of web to Web 2.0 is the ownership of that data. The ownership of that individual. And what's happened is that you as an individual, um, have effectively become product ties and monetized. So you are the asset to these organizations, um, you know, and you have to play by their rules, you have to kind of live in their environment. Um, you know, and obviously we've seen, we've seen how that's impacted some brands and some individuals in that space as well. So with web 3.0, you know, kind of a dramatic shift to almost going back to what the web was supposed to really be about in the first place, right? A kind of decentralized environment, you know, allowing people to create their own environment, their own path, but effectively allowing the community itself to police the community. So not so much about having dominant players in the market, that kind of forces you to go down a certain path, really making it more of a kind of level playing field. 

Amit

Yeah, I think that's a really important point. So, yeah, I mean, this goes back to the origins of the web. So, Tim Berners Lee in his, in his original documentation spoke about, you know, a decentralized web right now, you don't have these massive organizations that are not even billion-dollar - trillion dollar organizations who are basically controlling what's happening on the web. Exactly, policing it almost like a government state. 

Andrew

And holding to no one but themselves.

Amit

Yeah, And this goes back to his origins where it's like, "No, no, the power should be with the people."That's the reason for the internet. I think that's why because of the strong sort of foundations and fundamentals behind this movement, I think that's why it's here to stay. And I think not just here to stay, I think this will change, you know, and it's very dramatic I think when I say this and I say fairly frequently, so it's less dramatic in my ears, but this will change how we fundamentally work, how we build companies, how we structure those organizations, how decisions are made, how purchasing is done. All of these different things are now really, you know, that kind of traditional ways of doing things are very much threatened by this, but for the better.

Andrew

Yes.

Amit

It takes on traditional organizations, it takes on banking systems and so it's much bigger than just, "hey, here's a new platform." It's much more than that. So, so I think that's why, from my perspective, I guess, you know, having, you know, same as you, we spent hundreds and hundreds of hours, really kind of investing time, talking to people who are kind of heavyweights in the industry, you know, the guys who are making this change and really kind of absorbing that information to be able to then sort of dissect it and share it back. 

Andrew

Yeah, I think, I think we should say that like so bear in mind as far as, you know, Blockchain and some of the things that we'll talk about these have been around for years. Obviously, I think one of the sessions that Amit and I were at South by South West was kind of CTO from Dell, and that question was raised - it's been around for years you know, what's the trigger? What's the reaction? And a lot of it is to do kind of with covid, right, as far as that digital transformation for a lot of organizations, it kind of brought things to the forefront again, and some of these ideas have been bubbling away in the background which were wildly impractical or just not thought about um have kind of made that dramatic shift and I think, you know, we will we will see dramatic change. So, you know, I think that it's interesting at the moment because a lot of organizations and governments are trying to control the environment, which is mildly amusing of a kind of a decentralized environment. And there's a lot of, you know, traditional, let's say organizations or people that have kind of structures in place that currently kind of benefit them talking about the fact that, you know, because it's decentralized because it's Wild West because it's just because it's that its kind of dangerous, you know, which is, well, I think we're going to get into it. 

Amit

Yeah absolutely. And I think the point is... it is, there's definitely elements of that because it's new with anything that's new, there's different opportunities for people who are exploring. But I think again, the purpose of this show is really just to make sure that even though it is new, I think it's really important people get up to speed. We want, whether it's individuals to really learn and understand the space because I think the sooner you do that and the sooner you get your heads around it better, you know, in terms of like, you know, you'll understand more of these opportunities. And also for brands, you know, I think there's a lot of kind of brands who are very excited about metaverse opportunities, but when you start right, and actually what's the right approach for us, And so we'll be kind of, you know, again, showcasing and highlighting different brands are doing a really good job in the space you know, as well as kind of, again, trying to kind of explore different opportunities and, and this is for those of you who have watched our shows before, this is unscripted here, we don't plan out

Andrew

I think they know that.

Amit

Actually yeah, they do know that now. Basically, you're talking about, you know, ultimately you could grab yourself a drink and basically, that's the kind of environment 

Andrew

Join the conversation

Amit

It's almost kind of, you know, no holds barred in some respects and we just want to obviously gonna share as much information as well, and it was like a bit of a download for us. 

Andrew

Exactly, yeah, and as much as this is for everyone that's listening and watching, most of it is for me and Amit. And so I think the thing is that obviously - we're currently involved in projects and with 3.0 projects, summit, creation, finalization, pitch - there's a lot going on in that space, but also I think the thing is, as Amit mentioned, I just want to go back to it, that we were building relationships with individuals in the industry that carry real weight, that really, you know, they themselves wouldn't call them experts in this space, but from what they've done, they know what they're doing. I think that's it, and I think it's what's quite refreshing actually about the Web 3.0 space is it's a very humble environment. Everyone is wildly open to sharing as much of this as they can. No one seems to be holding all the cards and that's what we're passionate about, right? 

Amit

I mean, this is it, it's the decentralized definition and by nature. People are involved if they want to do something collectively. Yeah, they want to create something, they create something special, something that got real kind of longevity and I think the real, you know, I've got a couple of sessions obviously went to in that conference, people very much like, look, if you're sitting opposite someone and the first thing they say is, look, I'm a web 3.0 or metaverse expert, cut the conversation short; that doesn't exist at the moment. What you may have is some expertise, awesome experience, but to define yourself as an expert in something which is at the moment, so very small, but potentially could be exactly, just doesn't exist. So, look, and we've certainly never sort of claimed that.

Andrew

No.

Amit

You know, so it's, it's very much a case of just sharing, sharing what we know, you know, we're getting exposed to some incredible projects, but again, it's very difficult to kind of just have a one-on-one conversation.

Andrew

So it's been a long time, guys, I think that where, and I think myself and Amit feel like this, it's been a long time where there's something new every day, you know, there's something new, there's a new connection, there's a new technology, there's a new application of the technology, there's a new thought, there's a new group, there's a new movement every day, you know, and I think that's, that's wildly exciting.

Amit

Yeah, you know it's generational, right? It's one of those where it's like the challenge right now is it's just really complex. 

Andrew

Yes, true.

Amit

And I think, I think the point is, because of that complexity, there's just so much innovation and so much stuff that's happening in there. And, and it's quite funny, I think if we are almost kind of related back to the early days of social media, I mean, for years we were very skeptical of that space, because really what was the ultimate benefit? And it's only really over the last, maybe the latter half form that web 2.0 era where even the social platforms have really cared more about ROI and engagement, and from our perspective from day one, we were like, if this doesn't demonstrate ROI, what is it, is it here for the long? And it's only as those platforms have evolved and got more mature that this has become, you know, where it is today, whereas I think this space is all about actual practical use application and for the benefit and I think that's what makes it really interesting. 

Andrew

Yea, perfect, Cool. Alright guys, so that's the intro to the show. Next first episode will be kind of lined up almost straight after. So we look forward to sharing our experiences.

Amit

Absolutely.

Andrew

Thanks, Amit.