The Network-State And Business: A Theory On How Things Will Unfold
I have been messing around with a theory about how the Network-State will unfold and more importantly, how it will affect how business is done.
In this video I discuss this idea along with what I think might happen in regards to customers. It is going to be a reversal of what we saw the last 70 years with globalization.
▶️ 3Speak
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Summary:
In this video, Task discusses the concept of the network state and its impact on businesses. He explains how the idea of the network state is changing traditional business models by bringing back localized engagement through digital networks. Task emphasizes the importance of satisfying the needs of loyal network users to drive exponential economic growth. He uses the example of the Hive network to illustrate how various services and interactions can be provided within a network. Task also touches on the role of governance in attracting and retaining users within a network. He concludes by highlighting the future of business in the network state era and the importance of adapting to this new paradigm.
Detailed Article:
Task starts the video by introducing the concept of the network state and its implications for businesses. He compares nations to networks, highlighting similarities in governance, economy, and currency. Task explains how the shift towards globalization post-World War II and the advent of the internet transformed business dynamics, moving from localized to global engagement.
He emphasizes the emergence of Web 3 as the next generation of the internet, facilitating a return to localized business models in a digital format. Task envisions a scenario where satisfying the needs of loyal users within a network leads to exponential economic growth. He uses examples from early settlements to illustrate how businesses operated locally, catering to the immediate community's needs.
Task introduces the idea of the Hive network to exemplify how various services such as gambling, news, financial services, and communication can be provided within a network. He underscores the importance of creating a self-sustaining ecosystem where users can find everything they need within the network, reducing the incentive to leave.
The discussion then shifts towards governance within networks, with Task highlighting its significance in attracting and retaining users. Task predicts a future where technology like virtual reality and mixed reality will be seamlessly integrated into network applications. He specifically mentions the Hive-backed dollar as a decentralized stablecoin used within the network.
Task further explores the concept of ownership and governance through network-specific tokens like Hivecoin. He explains how other networks are adopting similar models but notes the importance of finding the right fit for individual needs. Task foresees a significant shift in marketing, advertising, and customer engagement strategies due to the rise of the network state model.
In conclusion, Task envisions a future where businesses operate within self-sustaining digital networks, catering to local audiences in a modern, digital era. He emphasizes the voluntary nature of network participation and the ease of switching between networks, predicting a seamless transition between platforms. Task cautions against applications becoming disconnected from their original networks, stressing the importance of maintaining user loyalty in this evolving business landscape.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.