Web 5.0

Most aspects of humanity’s existence will be accomplished in the digital universe. It will be a world of two competing universes, a physical one and a digital one. Both will be vying for our attention. Neither will replace the other. They will co-exist and we will maintain an avatar in each.

For the physical world the challenge will be to keep people interested in engagement. The physical world contains many beautiful elements alongside with many not so beautiful elements. Beyond just the aesthetics, the physical is riddled with dangers and unpredictable circumstances. This creates excitement but also risks. Alternatively, the virtual worlds of the metaverse will give birth to endless platforms where engagement brings very limited physical danger, in a customized environment that is visually appealing. If we take a movie as an example, such as Avatar, it becomes quite clear. The planet Pandora is visually stunning but riddled with endless dangers. A virtual copy of it in a metaverse would be a visual paradise, with no real threat to your physical being. Given those two options, most would opt to engage with a Pandora metaverse rather than a physical Pandora.

The challenge for humanity will be further alienation from the physical world. We have never really had such a competition for our physical world. An immersive metaverse will give quite the run for its money to the physical world. Obviously, we can’t all just live in the metaverse. As long as we have physical bodies to manage we will need to, not only engage, but continue all the activities that support our biological component. Otherwise we will be immersed in a liquid goo, lying in a pod, much akin to the Matrix film.

No longer will we be able to just trash our environment and take it for granted. We will literally have to clean up our act because the Metaverse competition will be swift and unapologetic. And its primary function will be to engage people for a maximum number of hours in VR worlds. This will be humanity’s ultimate test. Will we be able to strike the right balance so we can coexist in both worlds or will we abandon one for the other?

Web 5.0 will offer endless opportunities for engagement with business models that will be never ending. We will maintain friendships and engage with others from around the world from anywhere in the world. All in an immersive manner like never before. Countless new businesses will be formed. Revenue models that we can’t even conceive of at the moment will be birthed. With the removal of physical limitations, it will be as simple as, if you can imagine it you can create it and make money from it. Entire economic foundations will be tested as the digital economy will offer explosive opportunities that are primarily based on creativity.  

Web 5.0 will create the economy of a billion entrepreneurs. Working for a company will no longer be the default answer. It will be just one of many options. The developed world and the developing world will start to achieve economic parity. The ramifications to humanity will be fundamental challenges for existing structures and simultaneous economic empowerment of the masses. A bright future for all but only if we strike the right balance.