Web3 Utility and Innovations: From Supply Chains to Social Profiles

Ever wondered how Web3 domains could revolutionize digital identity and online interactions? Join us on this week's Tech Talk podcast as we celebrate a special birthday and dive into the latest Web3 innovations! We kick off with highlights from our recent VRBS Coffee and Crypto meetup in San Antonio, Texas, aimed at welcoming newcomers to the Web3 community. On top of that, we introduce the new .VRBS TLD from Freename, which plays a pivotal role in supporting the VRBS DAO initiative. Plus, we delve into the groundbreaking partnership between BASE and ENS, which has led to the launch of the base.eth name service, enabling users to register ENS subdomains on the Base network.

Next, let's explore the future of Web3 domains and their myriad potential use cases. We provide strategies for securing premium domains and weigh the pros and cons of enabling Web3 domains to resolve in traditional Web2 browsers. How can Web2 and Web3 technologies work together to attract new business owners and social influencers? We debate this and highlight poll results showing a strong preference for browser resolution as a key utility for Web3 domains.

Finally, we tackle the pressing issue of digital identity in an age where AI can easily clone and impersonate individuals. From the security offered by blockchain technology to the utility of universal social profiles like Warpcast, we discuss how owning and controlling your digital identity can safeguard against fraud. We also examine decentralized chat systems like DecentraChat for secure communication and delve into other Web3 utilities, including on-chain SKUs for supply chain management and forming LLCs on the blockchain. Wrapping up, we emphasize the importance of collaboration and onboarding in empowering Web3 adoption. Tune in for insights,

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Chapters

• 2:04 Tech Talk Podcast Overview and Updates
• 9:03 The Future of Web3 Domains
• 25:33 The Future of Web3 Identity
• 32:20 The Power of Web3 Utilities
• 43:17 Empowering Web3 Adoption Through Collaboration

Transcript

Speaker 1: 2:04

Thank you. Thank you, hello. Hello everybody, happy Wednesday. I want to welcome everybody to our Tech Talk podcast. This is a live discussion that we record weekly here on X, where we highlight news, innovation, education, alpha and business development in the Web3 technology and digital identity space. I am your host, winn Airdrop, the founder of iHeartDomains, and we are your number one resource for unbiased Web3 and blockchain domain educational content. We've recorded over 100 of these TikTok episodes and YouTube videos produced and archived over the past two years. You can actually search our entire podcast archive for prior recordings and an easy-to-read blog overview of each episode at iHeartDomainscom. You can also listen to any of these prior recordings in podcast form on every major podcast player, including Apple, spotify and iHeartRadio, and that's easily reachable at techtalkhost. Actually, just recently, we've been able to sync our YouTube channel up with our podcast channel as well, so for those of you who like to use YouTube to listen to podcasts, you can actually listen to all of our past episodes on YouTube as well. Entire episodes are there for you. So yeah, as a reminder, as you're coming into the space, please like, retweet, share.

Speaker 1: 3:33

Let's get a few people in here also, if anybody does want to come up and join the conversation. Feel free to request a speaker. You can always also ask a question, if you have any, inside the chat, using that chat button down at the bottom. But yeah, as usual, I do want to start this off with a little bit of opening news. It's been a little over a week since our last podcast. I had a birthday this weekend, so happy birthday to me. It took a little bit of time to be AFK and enjoy the things in life.

Speaker 1: 4:07

But now back to week three. Wanted to recap our Verbs Coffee and Crypto meetup that took place, I believe, the day after the last TikTok. So yeah, for those of you who may not have been familiar, we me personally and iHeartDomains we are a part of the VerbsDAO, which is a DAO that is very similar to NounsDAO, if you guys are familiar with how that is structured. We submitted a grant, it got approved and we are doing a monthly crypto and coffee meetup each month with the purpose of onboarding people into verbish culture and into Web3 and into digital identity. Ie trying to create a clear path for normies, and so we had our first one last, the Saturday before last, which was August the 10th, here in San Antonio, texas, at a venue called Hops and Hounds. If you guys have been there before or have not been there before, it is a dog food truck park venue, very nice, right here on the Riverwalk here in downtown San Antonio.

Speaker 1: 5:16

It was a very nice day. We had about a dozen or so people show up and we had some great conversations. There was actually some of the demographic that showed up and this is good because you know norms come from all over and it was good to get you know a little bit of understanding how some people view people from different kind of sides of the spectrum. You know view cryptocurrency and how they use it. But the conversations and questions that were asked there and subsequent questions and conversations that get asked at future meetups, I hope will continue to serve as like the motivation and inspiration for future tech talks and the subjects that we cover, and it's to make this understandable and digestible for people who are not familiar with the space, so that you know they adopt it and start using it and that Web3 really becomes for everybody and not just for the nerd. So, with that being said, enjoyed the meetup, look forward to the next one we're going to do September 14th things that was included in this meetup and will continue at future meetups was actually the debut of the VRBS, which is how you spell verbs, so we leave out the E. But the VRBS TLD from Freename.

Speaker 1: 6:37

As I had mentioned leading up to the crypto and coffee meetup, a free name graciously sponsored that TLD to the DAO, so we will be using that TLD not only to onboard normies into the space Anyone who attends any of the IRL meetups will receive a claim to a free SLD on that TLD as kind of part of their welcoming gift to the blockchain but also for any of you that are verbish or who want to support verbish culture or just like the TLD in general, it is now live for general registration. So, yeah, you can go to a free name type in whatever name that you choose vrbs. We also have the registration page set up, so I didn't post a link or link the link, but I will post it in a little bit. But you can also go there and search for your name. The important thing about it any of the revenue that is generated from the sales and TLDs. So if you met one and it generates revenue, we have the revenue share on all that revenue will be deposited into the VIRB's treasury. So, yeah, it's a way of helping and supporting VIRB's culture in multiple ways besides just getting a VIRB. So, yeah, invite anybody who wants to be part of the ecosystem to partake and admit your name.

Speaker 1: 8:01

The last thing that I wanted to touch on in the opening news before we get to the main subject was some news that came out yesterday with the BASE name service. Bullish on BASE, so giving them a little plug and a little air time here For those of you who are also Bullish on BASE, base teamed up with ENS to launch the baseeth name service, so you are able to register subdomains or third level domains on the baseeth I guess I don't know what you would call them Names or whatever you would call it. Eth obviously being the TLD, base being the SLD, you're able to get your namebaseeth. There have been quite a few conversations. I'm very active in a social platform called WorkCast. Workcast is basically the social platforms that breaks a lot of base projects. It's on base. It's kind of the base ecosystem, the base social ecosystem.

Speaker 1: 9:03

There have been some conversations about. You know potentially what these baseeth domains will be used for. There's quite a few protocols and platforms on base right now that track a quote-unquote builder score, and these builder scores can be used for anything such as incentivization for airdrops, for participating in different things, for being whitelist and all kinds of good stuff. And so hearing that some of those builder scores are going to be linked to this baseeth profiles If Jesse's behind it, I mean I'm sure that there's going to be a lot of good, a lot of direct integration. So, if you haven't checked it out already, they're on a 36 hour Dutch auction, meaning the price starts off super high for a name and then kind of gradually gets cheaper until it eventually lands at, I guess, free. So if you have a very unique name, if you wait it out, you'll likely be able to get your baseeth name for as close to free as you can get it. Or if you're looking for a premium domain and you really believe in that ecosystem and you've got the change, you're able to go bid on those names right now through the Dutch auction, and I think it's been about 24 hours already. So the premiums should be as high as they were before.

Speaker 1: 10:16

But yeah, that wraps it up for the opening news. Again, if anybody does want to come up and have a conversation, please feel free to request a speaker role. We are going to go ahead and get into the main topic, as you guys can see at the top, blockchain resolution, and I put the greater than symbol. You know a little click baity, but obviously you know it's not a debate on which utility is better, really, than the other. It's really a conversation of which utility do we think will be the most attractive to normies or be, you know, kind of poised or easier for people to see the value in, you know, when adopting these names, names. So yeah, as we've said, if there's one conversation that continuously comes up over and over again in this world of Web3 domains, it is the one that is centered around utility and most often the environment is centered around the lack thereof.

Speaker 1: 11:20

With Web3 domains, you know, despite being born on the blockchain and rooted in the decentralized ethos of Web3, many people do believe that these crypto names will never truly gain mass adoption unless they can be used to build websites and can be accessed via Google or another major browser. Others, such as myself, see the value in continuing to develop and create a market for this unique digital asset that's rooted in Web3 and blockchain utility. We see this new thing we created with this new use case and applications. We see this new thing attracting a new generation of business owners and, you know, social butterflies. And so today, you know, in light of a couple conversations that we've been having in actually several groups, I wanted to take a moment to discuss the potential utility of Web3 domains from both points of view. You know, to me, I believe the future is bullish either way, and we'll likely end up somewhere in the middle. Maybe we all get what we want.

Speaker 1: 12:26

But yeah, as a disclaimer, as always, our tech talks are never meant to be financial advice or a standalone answer to how to market, get followers, sales myths, etc. So, as always, please do your own research, research. But yeah, what I pinned up at the top, I posted or tweeted a poll prior to the spaces just to get kind of a general understanding of what people feel like the priority or the ground integration would be. And I mean I knew the answer before I put the poll up. But for those of you who just need to see it physically, we had a total of 44 votes, one being myself, and I actually did that vote for Google browser resolution, but a whopping 59%, an overwhelming majority, you know, believes that being able to resolve. The traditional Internet is going to be the grill utility that inevitably brings the masses into the space. So, yeah, let's talk about it. We'll start with that Browser resolution as a utility, ie unlocking the world of Web 2 for our Web 3 assets.

Speaker 1: 13:36

Again, as I said, many see Web 3 as a potential replacement of Web 2 rather than as a technology that will complement each know complement each other in this way or serve two different purposes. So how exactly will Web 3 make the browser experience better, and is this a feature that the math has been waiting for Before? We kind of. Before I get into you know kind of what I think the benefits are. You know the advantages of having this as a utility. I do want to also say that, although this is the request and dream of many, this is probably the hardest way up the mountain. Just to be honest, this isn't merely a technical process and there are many technical solutions that people are trying to develop in order to accomplish this. But for the way that most people think that this is going to have to play out in order for it to get adopted, it requires an official partnerships with either Google or one of the other major browsers, which, you know, quite frankly, many people just don't think is likely. But if that did happen, what would that look like? But if that did happen, what would that look like?

Speaker 1: 14:50

This part of kind of I guess my bullishness on the utility of Web3 is going to be short because, in essence, browser resolution will only accomplish really one of two things, and I hate to sound biased, but I come from the viewpoint that if it ain't broke, don't fix it. I come from the viewpoint that if it ain't broke, don't fix it. You know the part of Web 2 that many of the Web 3 aficionados you know think is broken isn't the resolve for website part. As far as I can tell, 1,500 ICANN TLBs resolve just fine, but for some reason that's the part that we're trying to fix. But with that being said, if the market is able or if you know some way or another, you know one naming service or another gets that better integration and unlocks the world of being able to resolve a point too.

Speaker 1: 15:35

You know some of those benefits that that will provide obviously are personalization and ownership. You know personalization, meaning you know all the TLDs that we can come up with or that we have invented in the space, I guess, now become usable and create more options for personalization. Again, there's 1,500 out there, but we do have some nice TLDs on our side of the space that aren't currently compatible with the ICANN space and I think would be good to see in the world and would get some applications, for instance, x right. Be good to see in the world and would get some applications, for instance, exe right. Exe would definitely be one of those ones that if it was able to resolve over Google, I think it would see adoption to get both mainstream and brands, just because it is a visually attractive PLD and there's quite a few others that are out there.

Speaker 1: 16:26

The ownership part as well. Imagine that they still stay rooted as true web domain names and they're just, in essence, resolving over Google. The ownership should stay alive. You know, with your blockchain keys, it's the same thing that we're, you know, enjoying. It's the same thing that we, you know, kind of are wanting to usher into the space, which is decentralized ownership the ability to own an asset without having to worry about whether it's going to be censored, taken down, stripped from you, moved, changed any of that without your permission. So, at its core, if you're able to still create, you know, websites and create content, have more personalization and own those domains outright, without them being controlled by some sort of centralized entity. But, yeah, there's a solid amount of value there, like I said, especially with TLDs such as exe, which I think would do very well commercially.

Speaker 1: 17:25

The other big benefit is full circle branding. The other big benefit is full circle branding. This is the one thing that I will agree that you can't really get from. You can't really get currently from Web 3 domains because they don't resolve to any sort of content directly related to the browser. But the full circle branding part how Web 2 domains are currently doing it right now, or some people with Web2 domains, how they're turning them into Web3, is being able to share kind of one domain name or one asset as a branding form of people being able to reach or interact with that one asset in both Web2 and Web3 without having to remember two different addresses, right? So, for instance, with iHeartDomainscom, even though you know I use different domains, in essence, as I'm branding iHeartDomainscom, I could also, you know, bridge that into Web3 and then have people also send cryptocurrency, all that good stuff, to that same address and brand under one name, whereas, you know, with the eth, I will always have to use two completely different domain names for branding one for, you know, crypto, decentralized payments, and then either adding, you know, the resolver extension on the end of the eth or the limo to get to the website content, or using the dot com itself.

Speaker 1: 18:51

It's not like it's an issue, but some people and I'm sure in the future there's going to be some benefits or maybe even perhaps some business loss because of the inability to do full circle branding. So if they could resolve the Web3 assets as they are, if they were able to resolve natively in a browser, people would be able to use that same name to basically reach every aspect of your company, and that, in and of itself, has a big value. So, yeah, just one thing again that I do want to point out as well when we're talking about the market itself and how we feel like this utility is going to open this market, just the current market, and I'm talking about, again you know I started this space off with. You know I do want to create more content and focus more of our onboarding efforts towards, you know, those who have a normal need for the space or will use this in the course of their normal lives, as opposed to being techie techie. And when it comes to that, the current market has already shown us that not everyone, and actually, quite frankly, most people, don't need or have a website, despite the ability to do so easily on the other 1,500 ITM TODs. So, with that being said, I definitely and I've said it before in other spaces I encourage and applaud any of the current builders who are able to achieve this resolution.

Speaker 1: 20:20

Is it a resolution that I think will add tremendous value to a space? Absolutely, absolutely. You know, again, you know, for anybody who's holding any good commercially marketable assets, or you know, or, like I said, the dot Xs and things of that nature, I do believe it'll, it'll open up a door with a TLD that that is supposed to compete with the other 1500. I mean, dot X is very attractive up against the other 1500. And I do think that a lot of people will adopt that, the 1500, and I do think that a lot of people will adopt that. Do I think that it will open the door for millions and millions of people that will now all of a sudden want RTLBs just because they now resolve with Google? Probably not because they're not using it now.

Speaker 1: 21:00

With that being said, I think the way that the mass is coming into the space, or that normies 100% use the space or will use the space as socially and this is where I fully believe that blockchain utility has the ability to shine, and this is the next kind of part of the utility that I'm going to get into. So, blockchain utility, which is fully embracing the security, transparency and trustlessness of the blockchain to invent new, cool and useful things with these Web3 domains. I know that this is more of a dreamers conversation, because it's hard for people to see the future when they see, you know, the dollars flying back and forth across Twitter for their Web2 counterparts, but the fact of the matter is that these are two completely different things and they were meant to be two completely different things because they solved two complete problems Once. One of these problems and I've said it many times before you know, once people really start truly understanding the value of blockchain, and once blockchain becomes more standard and stable in people's lives, then the value will come. But when Web2 domains were first invented, the internet wasn't something that was a standard or staple in anybody's lives, and the market initially was like this as well, which is magic words that a few people saw value in. If you want to reimagine that same scenario, now put yourself in the shoes of someone who is looking at Web3 Grow and kind of imagine where it's going, and that's really the easiest way to imagine the scope of usefulness and value. For you know, your new eth or deFi wallet domain is to get a better understanding of what you currently can do and all the things that you will one day be able to do with it. Whether or not there will be mass adoption or market for Web3 domains really actually just boils down to a simple question Does the world even need crypto? If you believe yes, like me, then you believe the utility and future of crypto naming is really only limited by how people you know in mass end up using crypto as a whole.

Speaker 1: 23:15

With that being said, you know I wanted to discuss a few solid Web3 use cases that are tied directly in the digital ID, and I hope that this, you know, kind of sticks with everybody as a reminder of the value that currently exists. In the event that these don't get to browser resolution as fast as we'd like them to, there's still plenty that you can use right now to grow your asset, market your asset and create a community behind your name. So the first and obvious one, but I think, one that has become one that's kind of underrated, I think, to the general masses and the whole and I'm saying that both inside and outside Web3, because it surprised me as many people are inside the space of Web3 and that own names that don't even use them as their primary name. But the first use case would be identity, and I mean identity as far as resolving to and the ability to control, edit and transfer your on-chain asset portfolio. I believe in the future, every single person is going to have an on-chain asset portfolio. It's either going to be something that's created for you when you sign up for a social media account, like what happens now with Warpcast Twitter eventually may end up creating an on-chain wallet for you. There's other people that are using easy signups and things like that, but at some point I believe that everyone will have an on-chain asset portfolio. Why? Because we all deal with on-chain assets and the ability to control those or to resolve to those, or to be identified or to be able to prove that you own certain things, is probably the biggest use case of WIC for your digital identity, being able to sign in on the spot, show somebody that you really are who you are, that you own who you are, own what you own. Being able to use certain things like I forget what the name of it is. There are certain apps that you can use actually IRL to prove that you own certain assets and then use those to sign into things. Use actually IRL to prove that you own certain assets and then use those to sign into things.

Speaker 1: 25:33

Being able to verify your identity is a big part of the problem that we have online, especially with AI and with all the different things that are being invented right now to basically clone and impersonate people's identity. It is going to get to a point real soon where you don't know who you're dealing with. It's. You know, we already are confused by videos coming out. Well, these are just going to get better and better and they're going to become harder and harder to distinguish, and one of the easiest ways to mitigate that or get to the bottom of it is being able to identify somebody via their blockchain identity. That's something that you cannot fake or you cannot mimic being able to validate the assets that they own that also look back to their identity, to prove who they are. We're going to need some of these surefire ways and these immutable and trustless ways of identity in order to truly trust who we're dealing with in certain processes.

Speaker 1: 26:30

So identity first and foremost, that is an asset. Owning who you are being able to prove who you are, being able to control who you are, I think is going to be the biggest. I mean, there was a show that I used to watch back in the day called the Wire. One of the most famous lines from that was from Barlow said my name is my name, and anybody who's watched the show that line is probably stuck with you as well. I think that might be one of the most famous lines from that show, but that is what it is your identity, what you build, how you represent yourself, how people get to know you, how people are able to find you Both now, off-chain and on-chain is probably your greatest asset.

Speaker 1: 27:10

Just on-chain, you know it'll have greater value because someone can't mimic you With. That being said, once you build that identity, once you've loaded you know that identity with these assets, once you've created this profile, another big use case is going to be, you know, having a universal social profile and being able to use it to log into things. We're already familiar with signing with Google, where you're able to use your Gmail account to log into basically anything and it skips the process of having to put your name and all that stuff in it. And even at the simplest level, all that does is help you sign in. It usually doesn't take anything with it, it just scripts that process. But that in and of itself is convenient enough for you to understand the value behind everything following you when you sign in and being able to include even more things or have even more things become compatible with what you're signing in with.

Speaker 1: 28:07

And for those of you again kind of going back to the base, ecosystem and Warpcast and again, hopefully this space helps inspire people to try some of the new things that are currently out there. I keep shilling Warpcast, you know, over and over again since I've been on it, because it is really one of the best uses of digital IDs that I've seen and it also kind of is a foretell where some of this utility can go. So WorkCast, as a social profile or as a social platform, actually allows you to use your digital identity or your eth username as your username and it works in that way where you have an immutable, fully owned by you username that no one can take from you. It's actually the safest username that you can have. A word cast is if you create one of their I guess in-house username, your app, whatever and it belongs to someone else, they can actually take that. So proves again the use case for owning your digital identity. But now WorkCast has signed with WorkCast, so WorkCast I think I've explained this before but WorkCast is the social application.

Speaker 1: 29:17

Farcaster is like the social graph kind of blockchain, if you want to call it that. Other people currently build applications on Farcaster and many of them have created or integrated sign-in with Warcast. So with those other applications that are being built on there, you sign in with Warcast and everything comes with you your docees, your assets, followers. You don't have to recreate the process of recreating yourself on a whole new app and this is a very big deal. Again, we're kind of I want to call people who are on Warpcast right now almost the beta testers of what ultimately, I think is going to be a thing. Sign in with Google is a thing. Being able to sign in with your real identity. That brings assets and things like that with you, you know, I definitely believe will be a thing. So, yeah, now going to the next one, and these are again more things that people just may not have been interacting with so they can't see the value in it.

Speaker 1: 30:18

But decentralized chat and messaging is another solid use case. Think, what is it? Unstoppable and I don't use theirs currently, but Unstoppable uses Push Protocol, who I actually am supposed to have an AMA with pretty soon. But Unstoppable's messaging system is something that I know a lot of people use and it's very popular even though I personally don't use it. But that's an example of using decentralized chat messaging with your digital identity.

Speaker 1: 30:44

But one example that I did want to point out, and one that's kind of been fully developed as a standalone solution, is DecentralChat or DChat from DecentralWeb. You know, michael explained to us in a little bit of detail. You know kind of their plans for that and what that's based off of in the AMA that we give to them. But Signal and WhatsApp again very powerful applications and all the things that I'm mentioning right now, these web cases for Web3 domains these are all things that have a current market with a Web2 counterpart. So, again, the only bridge that needs to be built is the value of decentralization, which people will easily understand once something gets taken from them, and then, of course, ease of onboarding, which we're all working on that part. But aside from that, these are all clear markets that currently exist that Web3 can do better and that integrate Web3 digital ID. So we already talked about universal sign-in. You have a decentralized version of Google sign-in via sign-in with forecast and others, of course, our identity.

Speaker 1: 31:53

Now we're talking about decentralized chat and messaging With DChat. Dchat is extremely impressive because you can domain gate the chat. It's not only token gated, but it's domain gated the ability to have those same kind of conversations for whatever reason that you need to have decentralized. You know, non-censored conversations that are token gated. You're able to do that currently with apps like DChat. I believe you're able to do those.

Speaker 1: 32:20

Push Again, I haven't used the UD's form of deep chat. I believe you're able to do those. Push again, I haven't used the new deep form of their centralized chat, but being able to do messaging if you've got internal you know, if you're a company and you've got, you know, internal things that you need to send internal conversations. That works perfect for that. You know, if you want to create your own community chat, your own alpha group, things like that in the world of Web 3, this is where this comes into play. So a lot of big use for decentralized chat and for messaging. And I'm kind of just running through this because there's actually a lot as you can tell I'm very bullish on the Web 3 side of utility for these debate days.

Speaker 1: 33:00

Going down the list next is the obvious being able to send payments anywhere, anytime and for any reason, without it being held. And this again is a utility that we talk about kind of on the surface, because if you don't have that problem or if it's something that hasn't affected you yet, the solution doesn't seem attractive until it does. For those of you who are large ticket merchants, you already have this problem now. If you're using a credit card service provider, anytime you run transactions that are of a large amount, you're either being hit with an enormous fee as compared to regular credit card processing rates because it's such a large ticket, or is being held. You're paying your, you're being charged a reserve that's being held. You know it may take days or weeks to get your funds, depending on who you need to send money to or for what reason, transactions might get canceled.

Speaker 1: 33:57

Even on a personal level, being able to send money to someone who needs it for whatever reason you feel like they need it for, wherever they are the ability to do so, I think, is going to continue, as people, you know, keep running into brick walls, running into obstacles. We continuously have, you know, more issues and conflicts arise where we have loved ones that we need to reach and provide funding to and to run into those issues Again. We'll start seeing these alternatives as ways to solve the problem and definitely the last thing you want to do is send a payment to someone that desperately needs it and they go to the wrong place. Again. Very direct need for digital identity. I think maybe even last year we had a space well, it was at the beginning of the Ukraine and Russia conflicts or whatever that was, but during then we started talking about you know certain names like charityease they're donateease. You know those kind of names being able to set up or charitable organizations, being able to use these. You know, use their digital identity to not only accept donations but to also create, you know, some transparency so that people can see exactly where their donations have gone. You know when you're.

Speaker 1: 35:19

That's one of the reasons a lot of people don't like to donate directly to charities is because they don't know where the money's going. So even charities being able to use and, you know, keep all these transactions on chain with transparency. Obviously, having a name that people can brand and send funds directly to it has a big benefit and I think you know we'll become potentially a standard use case, moving forward, moving on to the next Using as a merchandise database On chain SKUs. So blockchain is just one big database, but it's one big, accessible database anywhere that can be queried by anyone, and that's its benefit. Its transparency. If you're selling products, especially products where you need to trace its origin or any part of the supply trail, it's the perfect place for you to keep track of it. But keeping track of each product and labeling it by its on-chain SKU, which is the 0x, blah, blah, blah number, might not be the most efficient way to do it. So creating your own naming system, whether it be via sub-names or whether it be off of a TLD that you're able to give for free name or handshake, or wherever being able to label your products with, like I said, something that you can catalog or something that people can recognize has a big benefit, especially moving forward. That people can recognize has a big benefit, especially moving forward, and, you know, depending on how transparent the future does become you know different portals of people being able to search for things and all that good stuff. Everything being interconnected is again one of the things that blockchain's enabled, being one big database, and that's one of the ways to look at this.

Speaker 1: 36:58

And then the last thing that I wanted to kind of go over as a big benefit of Web3 and digital identity is that you can actually create an entire business from start to finish on the blockchain, and I see this happening. I haven't seen anybody pull this off directly yet, but I see the first example of this happening really kicking off a domino effect of others catching on and knowing that they can do this. So there's a platform called Otico and again, this is not financial advice. Don't do any of this without doing your research and figuring out if this is the best idea for you. But with this platform called Kotico, you can actually use this platform to form an LLC. So if you have a business idea, you want to form a business in Web3, you can form an actual, real US-based LLC via either Wyoming, delaware I think you can even use some of those whatever islands and stuff like that.

Speaker 1: 38:05

They have several different choices for where you can incorporate your business. But you can not only incorporate your business and form the LLC that is represented in the form of an NFT, and you can do this actually anonymously with the wallet you created, with technically being the owner, but within the platform you can also sign actually anonymously with the wallet that you created, with technically being the owner, but within the platform you can also sign up for your e, so that's also built in there. You can assign that e to that wallet that created that LFC. So now the e is the owner of the company. You can then also create the wallet that it creates for you is actually what do you call it? An account extraction wallet, so you can put assets in there from anywhere. But the way they have it set up is you can delegate assets to be owned by the wallet. They have some forms, legal forms and again, do your own research as to how legal they are. They have legal forms where you can delegate assets to the wallet business assets, corporate assets. You can even create and issue shares or tokenize your company via this platform.

Speaker 1: 39:08

So at some point, we're going to have people creating entire businesses on the blockchain and then selling that entire business on the blockchain via the marketplace. On the blockchain, via the marketplace, full businesses that don't need hash growth, that don't need intermediaries, that don't need, you know, any of that red tape, that are able to be created completely run documents, all that good stuff You're able to fundraise, do all those things on the blockchain, keep it completely contained in the blockchain and hopefully legal, you know stateside and be able to sell it completely accidentally Via the same blockchain processes that we're currently used to for selling an NFT. And I think that that is a major game changer, like I said, not only for digital identity, which would be the obvious asset that you would need in order to identify what the business is, but for business as a whole. When we talk about things that could potentially drive mass adoption of the space or mass use of the space, when we talk about actual, usable benefits, things that we can tell real people, that they can shake their head and say, okay, I get. How that can work. I think that this is a really good example of that. Again, the legality of it is to be seen. This is how I personally incorporated iHeart Domain iHeart Domain that I see was set up for this own local platform and, yeah, I mean, as soon as one of us goes to a legal challenge or tries to exit it through the blockchain, I'm sure that we will see an example of how this plays out, but for now it sounds good. And again, as we get more people doing this, as we get more examples of doing this, I believe it will certainly become news and it will definitely illustrate, you know, one of many use cases Web3, to incorporate digital identity. So yeah, in conclusion, really no matter which world you believe Web3 domains is destined to change, the real game plan should be to create and build around the utility that currently exists, while staying bullish and hopeful on future developments. You know, the point I wanted to make by outlining and dragging everybody through that whole list of benefits of Web3, is to illustrate the point to lay dormant while waiting on a grand revolution is a mistake that hopefully, you know, those who listen to this space are inspired to rethink. You know these do a lot.

Speaker 1: 41:35

Now, if you spent money on names and you're holding names in your bag, look at either integrating with one of the current platforms that offer one of these services. Or you know, again, like I mentioned, with certain platforms, I know D-Web has an SDK I'm not sure how difficult it is to develop with Handshake, but I know also Freename has an API. They have, I believe, an SDK, a lot of these domain name platforms that you're buying these names from. They have the ability for you to go, if you have a developer, and create your own applications to integrate just your name. If you wanted to create your own signal or WhatsApp or Gchat clone, that only worked with your TLD. That provided that type of value, you could, and then people would be forced to buy your TLD in order to get into the space. And these are things that, again, these are values and these are tools that are available to you currently that have zero to do with evolving to a website.

Speaker 1: 42:33

With that being said, though, you know maybe resolving to websites is the door, you know that once it's open, we'll flood everyone in. For all I know, people will flood into the space for multiple different reasons. Maybe they'll come into the space at the TLD level once they know they were involved Because of them. I have no clue, but in any event. Hopefully, again, this space highlighted some examples of what you can do with these Web3 domains, the value that they have, regardless of their future utility. Their current utility it's great and has tons of potential.

Speaker 1: 43:17

Building, onboarding and sharing the value of Web3, no matter your reach, is paving the way for this becoming one step closer to being adopted by the masses. So whether you're doing so, you know, on the banner of eventually again resolving to win the dresses, or you're doing so, you know, based on the utility that you find in Web3, one way or the other, you guys are all helping. I'm glad that you're all here and I wish everybody success in your journey. Thank you guys all for attending this Tech Talk. I do encourage you to follow us here on X, on Warpcast, so you can get a taste of what these things can do in the wild, and also to listen back to this recording and the many more that we recorded at techtalkhost. Remember always to focus on your mission and not your condition. Happy debating, everybody. You guys have a great rest of the week, thank you.