Decentralization and Web3 for Dummies

In episode 5 of Don’t Buy The Bull, Cassandra Toroian delves into the world of Web3 and blockchain technology, explaining the concept of decentralization and its impact on the future of the internet and investing. She explains how decentralization could revolutionize the way we interact with the internet and how it may shift the power dynamics in the stock market.

Tune in to gain insights on navigating the complexities of investment in the modern era.

TIMESTAMPS

[00:01:06] Blockchain Technology and Web3.

[00:12:38] Understanding Tech Industry Concepts.

In this episode, Cassandra Toroian highlights the importance of grasping the underlying value of blockchain technology and Web3. She emphasizes that we are currently in a transformative phase similar to the early days of the World Wide Web in the 1990s, with Web 3.0 representing the next iteration of the Internet.

Overall, the episode underscores the significance of investing in blockchain technology and comprehending Web3 concepts as essential steps toward potential financial gains in the evolving tech landscape.

QUOTES

• “We can use our own collective computer power to power the internet. And that is the basis for this whole entire concept of decentralization. That way, nobody really has more power than anybody else, or no entity has more power than anybody else. It's really a beautiful thing.”
• “The concept of Web 3 is essentially the, let's call it, internet platform so that the decentralization on your client side, on your computer, looks kind of like what you're used to, even though it's pulling the data from all of these nodes in the background. But it's much faster. It's much more secure. And ultimately, it allows all of its users complete privacy or at least control over who they wish to disclose their identity to. So that means monetization goes back to the hands of the people.”
• “This is a subject that gets very technical and complicated, but I really feel it's very important for everybody out there to have some basics about what it is because we're all going to be using it and we're all going to be looking to understand it so that we can make money in it by investing in it somehow.”

SOCIAL MEDIA LINKS

Cassandra Toroian

Instagram: https://www.instagram.com/CassandraToroian/

Facebook: https://www.facebook.com/CassandraToroian1/

LinkedIn: https://www.linkedin.com/in/cassandra-toroian/

WEBSITE

FirstHand Research and Consulting LLC: https://1sthandresearch.com/

Transcript

Welcome to Don't Buy the Bull, a podcast dedicated to unmasking the truth behind how so-called trusted Wall Street institutions and the American government really work. I'm your host, Cassandra Tourian. You can call me Cass. I'm a seasoned former equity analyst, investment manager and former Wall Street Journal All-Star Analyst. And I'm passionate about helping people think for themselves by teaching them about things like investing, which may not be their forte. My only goal is to help you figure out how to use your own discernment and instinct to make good investment decisions for yourself. I have no skin in the game. And to do what I'd like to help you do, we have to look at the world around us, since the stock market does not operate in the bubble. So let's dive in. All right, so I know that pretty much anybody over the age of 30 has probably not much idea truly of what blockchain technology is, what Web3 is, and really what that has to do with even cryptocurrency. I'm not going to get into cryptocurrency. That's a whole other topic. And we can debate for hours on the value of it and if it's real or not real, etc. But what I do think is important is that you've got some understanding of the underlying value of the technology, because there is going to be big bucks made. Why do I say that? Well, I realized probably two years ago that, and I'm dating myself now, that we're in what I would call the wild, wild west of the 1980s in the wild, wild web. The world wide web back then, in the 1990s is exactly where we are today with the next iteration of the Internet, which is what everyone is calling Web 3.0. Now, that means there's going to be some really big changes, not only in the web, but also in the leaders on the stock market at some point. And this is probably a couple of years away, but it's going to happen. It's going to happen. There's a lot of really smart, young developers out there that believe in this whole concept of decentralizing. So I guess I need to start with what that means too. Decentralization. Well, let's picture in our brains these big boxes around the world. And these big boxes are basically the main storage for the World Wide Web. All the data, They all go to these big mainframes around the world. Okay. So that means if one of those goes down, of course they have redundancy and all of that stuff. But at the very end of the infrastructure, everything that you ask for from your computer, show me a photo of a platypus. It's going to go and it's going to find it from wherever the search engine basically tells it to go on the World Wide Web to whatever big box is probably nearby. But nearby could mean the other side of the United States versus going to the one that's over in, let's say, the UK somewhere. So that's how the World Wide Web works now. Goes this long distance, pulls the information, puts it back right on your screen. So decentralization says, oh no, we all have these laptops. We all have computers that are pretty powerful now. They've got all kinds of memory on them. And so what if we were all collectively nodes for the internet. What if I had a little piece of my hard drive where I said, okay, I'm going to be part of this and stores on there little pieces of different internet sites, if you will, that maybe I've visited over the years. And let's say that that is just a piece that needs to be put together with a piece of my neighbors next door. But all these little nodes come together to form what ends up on your screen in front of you. So think about that. That's decentralization. That is taking away the big box mainframes that are sitting around the world that I imagine are controlled by either the U.S. government or some government-affiliated agencies. And I'm saying we don't need to do this anymore. We can use our own collective computer power to power the internet. And that is the basis for this whole entire concept of decentralization. That way, nobody really has more power than anybody else, or no entity has more power than anybody else. It's really a beautiful thing. And I give, you know, the brilliant minds that came up with these ideas a lot of credit because My god, to figure out how to do that is no small task. So from there, we have Web 3. And the concept of Web 3 is essentially the, let's call it, internet platform so that the decentralization on your client side, on your computer, looks kind of like what you're used to, even though it's pulling the data from all of these nodes in the background. But it's much faster. It's much more secure. And ultimately, it allows all of its users complete privacy or at least control over who they wish to disclose their identity to. So that means monetization goes back to the hands of the people. So how does that happen? Well, very easily in Web3 world, because we've got what's called blockchain. Blockchain is basically just a digital ledger that records transactions like a regular ledger does. The only difference is that it's using people who agree to be, let's call it, verifiers of the transactions so that once enough verifiers have verified the transaction it's locked into the blockchain and it's there forever and that transaction is cannot be altered okay so the basis of blockchain is what the web3 architecture is built on. I hope that's a good explanation. This is a subject that gets very technical and complicated, but I really feel it's very important for everybody out there to have some basics about what it is because we're all going to be using it and we're all going to be looking to understand it so that we can make money in it by investing in it somehow. So every time I hear people cringe when, oh, crypto, blah, blah, blah. I can't invest in that. You know, that's just like investing in air. No, no. There are so many different facets. You cannot put blockchain in the same sentence all the time with. Cryptocurrency, because blockchain is what your Internet is going to be based on. I'm going to suggest that you visit my Instagram or Facebook page, Don't Buy the Bull, where I'm going to put some links out there for, I think, some basic, easier to understand articles on what blockchain is and what Web3 is. Because, like I said, it's an important topic. for the future. And I know plenty of people out there have made a lot of money on the fang stocks or, uh, you know, whatever they're calling it this week. But basically there's going to be new ones. There's going to be new sheriffs in town when we have a web three. And my personal theory on it is that some of the biggest, uh, most popular brand names in the tech space to invest in aren't going to be that in the future. There's going to be others that are going to come along. Because if we can monetize our own information, what does that mean for companies right now that are making billions on us by selling our information? That means they got to switch business models. I don't care what they say. There's no way that search engines are going to work the same way. So I hope that this little discussion is one that you understood enough to be curious and go out there and do a little reading on this. Like I said, This is something that seems intimidating to a lot of people, but it's not at a very high level. None of us are going to be coding in this stuff, but you got to understand it because that's the only way you make money is when you understand the basic concepts of an industry. And this is a brand new one coming your way Every day we're getting closer and closer to it. So get ready. Don't listen to people that tell you otherwise. Don't buy that bull. Thanks so much for tuning into this episode. I really do appreciate it. Be sure to subscribe to the show, and that way you'll get updates about new episodes. Or if you really liked it, maybe you can share it to other folks you know. That I would really appreciate. So until next time, this is your reminder not to buy the bull. Ciao.

Cassandra Toroian