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Intro:
I have spent most of my free and company time(shhh) reading about web3 technology. It is a lot. Broadly speaking, would someone care about a new innovation that will replace something that they didn't know exists in the first place? They don’t and they won’t. And that is OK. People do not understand where their shit goes when they flush the toilet, they don't understand the backend protocols that enable them to post a funny video to their facebook. Those that do or those that kind of do, will be in an advantageous position from the knowledge gained when analyzing the evolution of technology to predict the future. Lets try and get you to “kind of get” web3.
Understanding Technology
Computer technology moves fast. Like really fast. Way faster than you can comprehend. Moore’s Law states that the number of transistors on microchips doubles every two years. This is a HUGE deal! This is exponential growth. Exponential growth is hard for us to wrap our brains around and not just for the smoothest of us. For example if you had 10 cows and they doubled every year after 5 years you’d have 360 cows. Not too crazy eh? Well after another 20 years you'd have 335,544,320 cows. In 1971 our microchips had 2,300 transistors. Now we have over 5.3 trillion aka 5,300,000,000,000. All you need to know about transistors and microchips is more transistors=faster and smarter computers. To put this in perspective, there is more computing power in a $4 hallmark greeting card that sings to you when you open it, than what we had in the original space shuttle that landed on the moon in 1969.
Why does this matter? Well if we boil web3 down, it is just an evolution in technology. Before we get more into the “how” let's put things into perspective and help our visual learners out a bit.
[Technology Timeline](https://preview.redd.it/t8zgyglslvpa1.png?width=621&format=png&auto=webp&v=enabled&s=5d38aa502de6ec71178efd74d6cded97b196b34e)
As you can see our computer technology has grown very fast. It moves much faster than our government laws can keep up. For example it took until the 1960s for segregation to end, which is within the lifetimes of many people on this sub. To think our government has a handle and grasp of new blockchain technology and how to use it let alone regulate it, is pretty naive. Culture dictates law ultimately. The private industry sets the standards and the government will slowly adopt.
OK we have established that technology grows faster than we can really perceive and are now humbled and in awe. Now let's learn a little bit about what technology currently exists and this new technology.

The Internet VS The Web.
The internet is the physical connections between all our devices, the hardware.
The web is how the devices communicate across the physical connections, it's the software, backend protocols.
Most people do not understand how it all works as us normies just interact with the simplified frontend that smart people made for us.
Since most people only interact with the front end, they don’t care how it works. If you don’t care how it works, then you won’t know how it will evolve. For the most part the “roads” that connect our computers are built out and wont change. You can consider fiber optics over cable to be the latest innovation but it does not fundamentally change how we use our connectability. The “vehicles'' on the road, or data is what is poised to be revamped. A “web” of messages to a web of objects and value.

The evolution of the web
Web1- static internet, picture dialup 90s scrolling web pages
Web2- 2000s, the invention of the hyperlink! Dynamic interactive and clickable web!
Web3- Web2 with digital “objects” bringing value to the digital world through the latest innovation in math and technology. Blockchain is the foundational technology that makes this possible.

Understanding Blockchain
It’s just Accounting software.
Accounting History For Smoothies:
For over 2000 years the world has used what is called “double entry accounting”. Blockchain is the first fundamental change to this. It is a new way of tracking data.
Double Entry
In the double-entry system, transactions are recorded in terms of debits and credits. Since a debit in one account offsets a credit in another, the sum of all debits must equal the sum of all credits. In this system it is impossible to locate where an asset is at any given moment. You essentially only compare your checkbook to whoever you are dealing with. It is impossible to take a snapshot and locate where anything is at any given moment. Nothing of value is ever moved, it is all “paper gains or loses”.
God that is dull. But it is essential to understand if you ever want to “kind of understand” blockchain technology.
Now I get to this point with many friends and they say things like so what? I use zelle or venmo. I can send money instantly TODAY without having all this blockchain nonsense. Well buddy you are not correct. They made this great front end for you to use and experience what you think is instant money transactions. Unfortunately it is a farce. Or more accurately a solution to a problem. You see, prior to blockchain, it was impossible to transfer value securely over the public internet. Banks and other financial entities have their own “internet” to track and move money via messages. They all have their own ledgers with each other as well as with their customers (us). If I am in Chicago and I wish to send money to a business in England, I tell my bank who I want to send the money to. Usually they have to play a game of telephone to 1 to 3 more banks while I wait half a week for them to eventually get to the specific bank in England who has the account of the business I am trying to send money to. This takes time and often gets messed up through human error.
Blockchain allows peer to peer transfers of digital money and objects almost instantly. Visa, venmo, interbank transfers etc offer a mirage of instant settlement. They replicate the “instant” transaction by having all the parties bring their money to a centralized ledger, one big money pot that they control. They then make a nice front end that displays the IOU amount often days before the funds actually settle by entering or leaving their centralized ecosystem. The transfers within their ecosystem is just a rearranging of IOUs. This allows them to free up liquidity and use the actual money in other ways If this sounds familiar, it should. **This is what the dtc stock ecosystem is but for stocks**. The same exact principle.
So banks and brokers exist because their business models allow them to profit from the inefficiencies and frictions in the built out financial systems. Systems that are built on 1960s technology. Blockchain replaces the old systems and removes the inefficiencies. This makes banks and brokers irrelevant.
It all comes down to custody. Banks and brokers work because you literally give them your money or stocks. In the web3 world, you always maintain custody. The next generation will think it ludicrous that we used to give all our money to other entities to “hold” for us. The whole plot of Fight club will be laughed at. How can blowing up a couple buildings reset credit?! What a horrible centralized design from the stone-digital age.

Bonus
Wait but what’s an nft? Think of an nft as being a digital mason jar. In our physical world you can put anything really in a mason jar, it’s just a container. It’s value and utility drastically changes if you fill it with gold or feces. Mason jars themselves aren't valuable until you fill them with something. Developers use coding to fill NFTs with data in ways that are as variable as gold and poop. There is a lot of poop out there right now.

Trust me bro anecdote
Not too long ago I went to a small forum about crypto and blockchain featuring a couple Federal Reserve managers. They were extremely vague in all their talking points, but it was clear that they were embracing the future. I asked about the ripple v SEC lawsuit and if they had any opinions. They said no comment other than that it may evolve into the “Telecommunication Act of 1996” for crypto.
“
The Telecommunications Act of 1996 is the first major overhaul of telecommunications law in almost 62 years. The goal of this new law is to let anyone enter any communications business -- to let any communications business compete in any market against any other.
“
Bullish.
To think GameStop and their partners will make a major move prior to there being a bit more legal clarity is a bit silly in my opinion. The ripple v sec case and the new rule proposal redefining what a custodian is are two majorly bullish signs to me and are required for GameStop to really start making changes and competing in the fintech space.
[https://public-inspection.federalregister.gov/2023-03681.pdf](https://public-inspection.federalregister.gov/2023-03681.pdf)
Page 65 starts the minimum protections sections and to me opens the door for new solutions to being a custodian in the crypto space.
Gaming assets will be first and can get going but innovating the fintech space is the ultimate end goal to me. The general population won’t game because NFTs are in the game. It’s just not a primary selling point. The games have to be amazing on their own and leverage nft tech to enhance the experience even more. DRS, do business with GameStop, wait for a genuinely great game to be released, and just let superior technology eat outdated infrastructure. Profit.

Double Bonus grandma story:
Before my grandma died she told me a story about my great uncle who passed away before I was born. He was a scientist working with magnets and data storage back in the 1960s. He told my grandma that one day people would listen to music on small compact metallic disks. My grandma rolled her eyes at whatever that meant. My great uncle was early but he wasn’t wrong. Through his research he saw the potential of the technology, but it would take years to make it mainstream. Thankfully for us the innovation and adoption rate of new technology is also increasing. It took Chat GPT 5 days to reach 1 million users. It took facebook 10 months in 2004 and netflix 3.5 years back in 1999 to reach that level of adoption.

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Versus Systems Inc
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