Are we running short?
The existence of human beings has taken a lot of turns over the centuries. Human beings have learned, adapted and grown in all aspects of existence. From Stone Age to the Middle Ages, it was the idea of growth and constant improvement that inspired change and kept the wheels of innovation running. The patterns are almost always repetitive; a change is made in the current environment through tools of choice. Then, careful analysis and constant trial of the running methods bring the gaps to the surface. This continuous cycle keeps bringing out the flaws and thus, keeps the innovation open. While, the system may seem very predictable, but there is always a catch. The system and tools set up by humans are as complex as the beings themselves. The system, environment and all related tools are dependent hugely upon such intricacies that demand management to the tiniest level.
The advent of computer brought the ease of faster calculations, easy storage and improved efficiency in all processes. Soon internet followed, and the idea of connectivity was born. While the computer started off as a large noisy and heat-producing device, the internet was a brainchild of US Department of Defense and thus, limited to the department’s use.
Connecting the dots, the sleek laptops and smartphones have come from decades of improvement, mistakes and innovation. History is a witness to the fact that the idea of betterment has always excited the interest of those looking to make a change. And in order to move forward, one must be connected to the past and the present.
“If you don’t know where you’ve come from, how will you appreciate where you’re going?”
Dr. Shashi Tharoor
The past is the history of human beings, their achievements, weaknesses, romances, strengths, and thoughts. It sheds light on the journeys of great people, as well as their commitments to fields related to our lives. It allows us to understand where everything we have today came from. The past answers the question: “How have we reached where we are today?”. Traversing decades and centuries of time, we can connect to the ideas of those who we never met.
The present enables us to view the world as it stands around us, its current status in the history. It outs forth the gaps and challenges of our existing world. Answers the questions and fills in the gaps of the past, while also preparing us to tackle the future. The present may be seen as a bridge between the past and the future, but it is our guiding light, as it is a platform for ideas that are to be implemented tomorrow.
The field of finance has been pivotal in modern times, as it starts functioning from the running of a household to the management of states and countries. Finance is not only about money; it makes sure that there is a bounded definition of our wealth. It is the backbone of commerce and trade, on all levels and environments.
The idea of invention may revolve around deficiency, but there is no limitation for innovation. A number of values have changed over time, but not everything is inspired by the lack of previously or currently used resources.
The Stone Age brought humans to use stones for almost all actions related to survival. From houses to tools and weapons, stones were the key component. But we did not run out of stones, to end the Stone Age. In fact, we simply moved on.
During the 16th century, salt was the main currency in many parts of the world. From soldiers being paid in salt bars to masses being controlled by the supply, salt was the ultimate entity.
Today, stones are limited to our gardens and salt does not leave our dinner table. The cases of stones and salt point out that we don’t need to run out of any resource, to shift to something else. It’s simply the idea that we human beings learn to grow because innovation forces us to think out of the box that we were born into.
The birth of Web 3.0 will mark the third era of the internet. Its predecessors, Web 1.0 and 2.0 didn’t die out due to their deficiencies alone. Speed and connectivity were indeed a major challenge for Web 1.0, but the paradigm shift was fueled by the thought of constant improvement. Web 2.0, though currently in use, has its share of shortcomings but the paradigm of Web 3.0 is imminent only due to the new ideas that have brought something more efficient.
Web 3.0 is not a luxury, it is a necessity, as the user-based internet is a demand that cannot be ignored in the twenty first century.
The third generation of the internet offers a range of solutions; decentralized currency, user data safety and cryptocurrency. This new face of the internet will free the user from the traps of social media outlets run by corporations, that constantly experiment on the minds of all its users. The decentralized finance shall set us free from the bounds of state banks.
The integration of finance and computer science has put forth the cryptocurrency, which connects the users to a ledger, where all transactions are secured and kept closely monitored.
With the ledger being distributed, it makes sure that no data is lost. The encryption of the ledger makes it safe from all sorts of attackers and hackers.
The internet is the tool to the future, which is why web 3.0 shall be the soul of every device online. With the birth of cryptocurrency, and with Bitcoin leading the charge towards the new paradigm, the future will be more centered on individual presence rather than using humans as test subjects.
Written By: Humza Noor
