and there's the digital world!

In the real world - ownership is pretty obvious.

You have possession of the physical item.

You can use it, sell it, borrow it, move it, drive it, wear it, display it, inherit it, or use it as collateral.

We have receipts to prove we purchased it.

We have legal contracts - systems in place to establish who the true owners are.

In the digital world, it's a bit more complicated.

If you’re living in the digital world, anyone can copy anything easily.

You can copy and paste text and images. You can “Save As” and easily duplicate files - save it on multiple devices.

There’s nothing stopping anyone from being able to copy/paste your digital “stuff”.

So there’s no way to know if the digital asset you have is the original or just a copy!

Well, no way to know until the introduction of Web3 - Blockchain technology.

Web3 brings the concept of ownership to the digital world.

It’s about identifying, tracking, and owning digital assets…just like the real world.

Let me explain…

In the current (web2) Internet, let’s say you’re a famous digital artist who created an amazing piece of art.

It is your original - A true masterpiece.

You post it to the public. It’s amazing - People love it!!

But of course, as already mentioned, it’s pretty damn easy to copy digital files on the internet. Anyone can simply “Save As image” or take a screenshot of it.

All of a sudden, you have thousands of digital copies on the internet and no way to differentiate the digital copies from the original.

The original is essentially lost in the digital sea of copies!

Now in a Web3 world - You, the famous digital artist can add a “token” to the original.

In simple terms, making it into a “token” means attaching a piece of code to the file that is copied on a network of computers - that all agree this is the original - the legit authentic file.

This token acts like an identifier..or a label. This identifier tells everyone this is the legit/original piece and without this “identifier”, it's a fake… a total copy!

So now, in this new web3 internet, we can identify the original file from the sea of copies.

And this doesn’t just apply to jpg.

This can be applied to all digital content - videos, audio files, articles and blog posts, medical documents, certificates, credentials, digital driver licenses, etc.

It is a way to store value and information on digital files.

A way to trace back the source.

Owning the original could mean unlocking the benefits the famous digital artist might offer.

The famous digital artist could collaborate with other brands and strike a deal that anyone owning the original is entitled to a discount..or special treatment.

Owning the original carries control!!

Owning the original carries value...

…something that can be sold and resold.

And with this concept, you’ll see new, creative ways to market your business online.

If you want to learn more about Web3 and explore its potential applications for your business, you can reach out via DM on linkedin or book some time with me on my calendar.

Peter Baraniecki
https://linktr.ee/peteb