Marcus Cake

Our society is in transition. It is applying new technologies to create new structures. Proprietary information is no longer necessary to encourage innovation or distribution channels. The internet provides a virtually free distribution channel in a services based economy. Online social networks have redefined how we interact with large numbers of people adopting new behaviours. Online industry network will redefine industry. Online political networks will redefine politics.

The following is intended to provide a summary of how our society operating in a Web 1.0 world and the emerging Web 3.0 world. This is one of a series of concepts that explain the evolution toward Web 3.0. I recommend you review the visual overview of these concepts in the Marcus.cake overview presentation.

Web 1.0: opaque channels & cottage industries

Economic development
Government needed to convey ownership of community knowledge to private enterprise with a system of intellectual property to encourage investment in innovation and the creation of information distribution channels.

Financial markets
Investment banking and equity markets are essentially a cottage industry with asymmetric information flows between potential customers, customers, advisors, brokers and sources of capital. As such they are highly ineffective and deliver bottle-neck returns to some brokers and investment bankers.
Small and medium-sized companies find it very difficult to access correct skills and capital, while the full universe of experts and potential investors is not fully utilized.

Professionals and workers
The knowledge and wisdom of each person is a result of their education, experiences and reading from the community. Individual knowledge and wisdom is shared through proprietary channels developed over the last hundred years.

Relationships not content are central
Market participants build relationships over decades, retain their knowledge and deal with people that they can meet for coffee within an hour of where they live. The number of opportunities for review is limited.

Web 3.0: Community execution

Economic development
The internet provides free point to point information distribution. “Open source” software communities demonstrate innovation is not dependent on a profit motive.

Proprietary ownership of information is no longer required to encourage innovation or proprietary information distribution for the majority community objectives.

Proprietary channels are no longer necessary to encourage innovation or distribution channels. Web 3.0 provides a more efficient way for people to distribute information and facilitate collaboration to conduct business and community in virtual “clouds”.

Financial markets
Online industry networks allow market participants to see straight through a market and collectively to see straight through a market and collectively self-publish, match, learn, validate and consume financial market content in hours (not months).

Professionals work through online networks
Individuals manufacture content. The internet provides them with a point to point distribution channel. Individuals do not need to join an organisation to get distribution – they will distribute information using online networks.

Content not relationships are central
The consumers of information will review many opportunities using tag based search and choose to execute those based on merit.