The concept of putting reputation and contribution over wealth is a key principle of Web 3.0
Today, web3 has storm the world infact has be one of talked of the town. It is new way of using internet which I will refers to new generation of internet that is built on Blockchain.
Web3 is the advance technology of web2 which is dominated by centralized bodies, and there is no deny that people embrace web3 technology over web2 because it is more transparent than web2, it allows users to conduct decision making with there holding and also have control over their data. However web3 has be an interesting technology that storm the world with different advantages over centralized entities that control the vast of users data and use it for themselves to generate profit
On centralized entities manipulation had been a threat to people with users have little control over their data, but looking into the new era of web3 that aim to create something different for us, web3 aims to create a decentralized internet where users are in control of their data, have decision over their investment. One of the most interesting part I will point and cause of writing this piece is that of web3 concept of putting reputation and contributions over wealth in our society.
If you're familiar with web3 platform you'll understand more about putting reputation and contributions over wealth. Honestly we all embrace this blockchain technology for it advantages and other benefits that surrounds it and the power of decision making process. However putting reputation and contributions over wealth in our society in web3 ecosystem mean a user's reputation and their contribution to the system are more important than their wealth.
Reputation is one of the things I see quite challenging in web3 and it like creating awareness of how contribution is most important, there is no doubt that users that contribute more to the ecosystem are being rewarded with higher reputation and we have see that on hive blockchain where there is no shortcuts to it. Users have to contribute more to the system to have more power, in that aspect wealth are not important.
Using hive as an example, the idea of putting reputation and contribution over wealth have some advantages of users who contribute valuable content, service get rewarded with reputation which gives them more influence and power on the platform. Also this concept play equal level to every users regardless of their wealth. Oh did I say wealth 🤔 oh wealthy people also have big influence in the system with their stake.
The opportunity of web3 in this era is enormous, from creating of trust internet that users are in control, participate in decision making and also make everything more transparent
In conclusion this concept of putting reputation and contributions over wealth is innovative to build a reliable internet that gives us advantage over centralized entities and trustless internet which is a good thing to internet users.