It's clear that we are witnessing different narrative structures emerging in the Crypto market. Let's outline some potential narrative structures:
The first narrative structure we refer to as the Objectification Decentralization Narrative. The primary force behind this narrative comes from Ethereum. From the decentralized currency Bitcoin to the decentralized financial infrastructure Ethereum, to decentralized information.
Key points here include the institutionalization of Bitcoin itself, compliance, and institutions possibly becoming the major theme. A relaxation in regional market national reserves and regulations might be the direction. Furthermore, Ethereum 2.0, primarily supporting the rapidly growing financial applications and expansions into non-financial scenarios, narratives of PoS, sharding, WASM, and the significant roles of gaming and social entertainment applications, with Layer 2 potentially booming in the next cycle.
Decentralized information is primarily based on the concept of decentralized computing, involving storage, computation, data, network, etc. It aims to expand application scenarios through improving performance in specific dimensions. This part is majorly about AR, Filecoin, and Definity reforms. The consensus verified by machine amongst different entities is the core of this narrative.
Simply put, from a cyclical perspective, a technical revolution cycle is generally around 45 years. We're currently in the 14th year of the decentralization narrative structure, which means it's still growing and maturity is a bit far off. However, the next eight years will undoubtedly see rapid growth within a somewhat vague cycle for the overall market.
The second narrative structure comes from the Reformed Web3 narrative, which is a combination of blockchain and the internet — the next-generation decentralized internet. This narrative is distinct from the first in that its target audience has shifted towards the younger generation, and there's more emphasis on practical outcomes. Its core is a blend of the decentralized and centralized worlds.
The centralized world, driven by strong centralized entities, encompasses narratives like VR, AR, and the metaverse. We might need to pay less attention to this part and focus more on the rhythms of these big tech companies. The part generated from the bottom up in the decentralized world overlaps with the decentralized information of the first narrative. NFTs can be seen as a form of "ticket" in this context.
Currently, in the Web3 narrative, many are using traditional internet terminologies to explain the innovations and expansions of the new Web3. Our main focus is the decentralized-driven Web3 narrative, with DAO being supplementary, not the driving force. In this reformed narrative, overly idealistic fundamentalism might be filtered out, and overly outdated centralized efficiency improvements might also be discarded. Some "reformed semi-machine-verified consensus" could become the narrative's focal point.
Simply put, if our discussion is much about practical implementation, we can compare it to the internet of 1995-1998. We're probably still in the dial-up internet era, and the so-called killer applications have not yet emerged.
The third narrative structure can be termed as the Anthropomorphized Decentralized Society narrative, differing from the objectified Bitcoin and Ethereum narratives. This structure adopts a human-centric approach to constructing our decentralized society from the ground up.
Clearly, in this narrative, what "decentralized human" means becomes crucial. For instance, the Soul can't just be an "identity" but rather a state comprising both on-chain and off-chain data.
Future real-world scenarios, such as decentralized nations and cities, and O2O scenarios, are all critical to a decentralized society. DAO here becomes more than just a supplement; it's almost a necessary core component. Consensus achieved through machines, even up to the level of consciousness and spirituality, becomes the theme of this narrative structure.
Desociety is a vast narrative structure, spanning potentially a century. If Bitcoin represents the beginning of objectification, then we're probably in the very early stages. We've just seen some new ideas and technologies, but the real reforms in public governance, real-life, societal order, and even spiritual and consciousness affiliations are just beginning.