You don't know yourself how much Google knows about you ! With the use of block chain, we now provide everyone with the option of having an individual identity. The more a company has data, the wealthier it becomes. If you post a photo on Facebook now, the photo is not yours, it is Facebook's. Facebook also uses blockchain but didn't tell anyone. because if they tell about it, others will involve in it. All the data, users and applications in the world are controlled by two or three companies. INTRO BLOCKCHAIN ! BLOCKCHAIN ! BLOCKCHAIN ! This is one of the most requested videos on my channel. What is blockchain ? How to start What will the road map look like? What will be the future of blockchain technology ? This has sparked a lot of interest in blockchain technology. Today we will discuss it in detail . Is bitcoin and blockchain the same ? So, to explain all these things now, we have Navin Reddy, Sir ! I also began my blockchain journey with Whom. So first of all, hello sir , welcome to my channel.
It is a pleasure to be here with Rohit, and you cannot say expert to me. I just worked with blockchain for a long time, approx. 4 years, and it feels good to hear that you started your journey here. Yes sir, I saw your playlist when I started, which is on your channel. Now, sir, I'd like to inquire about blockchain. If a beginner is trying to understand what blockchain is, how will you explain it to him? Actually, it is very difficult to describe this technology. It has a different mindset . We have seen networking in technology and everyone thinks it is a new technology, but it is not; blockchain is a combination of various technologies. If you are cooking, then give cryptography , give distributed computing, give networking and mix them all together and it makes a new technology.
Now to simplify this, we have two word chains with blocks. We stored a large amount of data in a block that was linked together with a chain. Now it is a chain of blocks, which we named the blockchain. Now the difference is it's not a simple block chain, it's like a peer to peer network. If you know networking, then you have an idea of topologies. One of our topologies is mesh and one client server, and we also have peer to peer, by which two machines are connected. Now you just imagine the whole internet being controlled by some companies.
We always think that the internet is open and accessable for all and we can do anything. We should not do anything, of course, because a lot of things are illigle. Now you just imagine the whole internet in which as a user you have no control. If we talk about data, then all the large companies control their data on their own. I said that all the data in the world is controlled by two or three companies. We know Google , Facebook, and Amazon mainly because they have all the deployments. So now these companies take down how the internet will work. And they also won the data. We think that the data is ours, but it is not. When you post a photo on Facebook, the photo is no longer yours; it is now Facebook's. If it is my photo, then I expect that photo to be mine and Facebook should just access it. But it happens the opposite. So now we should change it. Now we have the technology that is blockchain, and it works on peer-to-peer networking.
So now we don't have to depend on the middle companies. now sir you just said that two web version , web 2.0 and 3.0. now i wanna ask that if we have web 2.0 by which we can acess all the things then what is the necessity of web 3.0 Web 3.0 is like a merketing term. We simply add a version; we never say it was web 2.0; we simply say that they had web before and now have web 3.0. Now people think that the previous web and this web are different. And then people go for the first version of Web 1.0 . When the dot-com bubble came, there was a trend: if you know HTML, you can start a start-up. If you want to start your own company, learn HTML and call it HTML Authors. At the time, they provided funding because all businesses required a website. The investors know that and say if you want to make a start-up, learn HTML and you will get a lot of funding.
The bubble was created and it also broke in 2000. And after that, only 2 or 3 companies can survive. Some of the famous survivors are Yahoo , Google, and Amazon. They are able to survive because they provide a valuable service. and who are unable to provide value are closed. and the other services are supported by them. At the time, web access was only one-way communication. You can only read as a user; you cannot write.
So somehow, the user feels that they have no power. It then launched Web 2.0. Communication becomes two-way, in which users can also write and not only write; they can post also. Before Facebook came, at that time, Orkut came into the market , through which you could publish your photos and status updates, which are seen by others . Now it's a good thing that if we are doing something, someone can see it too, and we can become able to make friends online. Now the whole communication system has become two-way. As a user, we can read it and write it also. But the advantages of this are taken by large companies. They think that if a lot of data comes in, then why not use it? It is not that they take data, it is that the user pushes to share his data and with the use of this data, they can understand user behaviour.
With the user's behavior, they will know the purchasing power of a user, and with the use of this purchasing power, they can advertise. A macbook advertisement is not for a college student, and if it is, then it must be that his father is able to afford it. so they can target people who can buy these things. If anybody is poor, the MacBook advertisement will not show him. It's OK when it's covered under marketing, but they inflame people to vote for the particular party. in 2016, with the use of influence marketing, someone was elected. Please don't tell me who is behind this. Just write it in a comment. At that time, people thought that the type of person who came in front . Now the whole thing is to be marketed, and Facebook will drive it completely and use Facebook's influence power. Facebook can do it because Facebook can influence your mood. If you think in the morning you are happy, then just look at your phone. If you are happy, they can make you sad and vice versa. And the worst part is that they have your influencing power.
Sometimes people say that this company is very rich, like in the middle Reliance becoming the richest company. I feel the company has more data and, according to my feelings, Google has all the data. In fact, I say that you don't know yourself that much. Google knows you. Sometimes people ask me what I should do in life. I told them to ask Google and they would tell them what they needed to know. So the bad thing is the influencing power and the companies that use it. It affects your privecy. As a user, we think that privacy is very important. In fact, in Europe they implemented their GDPR, where as a user we have the power to delete our data.
India has no system like this. As an example, I have a company and I ask the user if they can use my service. I want to ask for your data because, for service, I should know who is using my service. Now I don't want to manage their data . I want users to manage their data on their own. but there is no technology by which a user can control the data. I just want to know which user is using my data, but I don't want to maintain their data. With the use of blockchain, everybody has an identity like a wallet, which should have a key that will only be with them. Nobody will know about the key, and you can prove your identity just by providing the private key. Because of this , all of your information remains with you because you have access to it. and if I have your data, I can't just request it to you.
You want to access my website. Show me your proof. Just like if we go anywhere for service, they want to see our Aadhar Card , we have to show it only . It also works on the internet, where you don't give your data, just show them. As an example, if we go to watch movies like horror films or anything that is just for adults, they only allow 18+ . So to prove you are 18 or over, you must show your Adhar card . They want to know your age, but you give them all the information they need, like your name , Adhar card number. The government says that you only show your last 4 numbers, but you give them all the numbers. Even if you book a hotel, they scan everything , with the use of this data, they can do everything. So, as a user, we need power. We say to them we are shifting from web 2.0 to web 3.0, where users have control. Their data will remain with them and they will just provide access to this company to provide the service. So now we see the general trend that we give everything for service and don't care about our privacy .
However, nowadays, when scams involving online payments or anything else occur, people try to understand the importance of protecting their ID cards and PAN cards, because, with the help of this, a lot of money has been stolen from their accounts. So people will understand that web 2.0 to web 3.0 will be a transition. What are your thoughts, sir? Many companies lost when the web 1.0 to web 2.0 transition occurred, and many more will lose when the web 2.0 to web 3.0 transition occurs. Actually, some of this has already occurred. It takes time to finalise this thing . In fact, some days we are talking with someone and he says, "Well, blockchain is good and, according to your opinion, a lot of companies will be replaced." The large companies understood that they had to shift from Web 2 to Web 3, and they implemented it, but they didn't tell anyone. Facebook has launched Metavarse, which has a lot of technologies like AIV , AR VR, and Blockchain.
All of a person's identities on metavarise now come from blockchain. They used blockchain, but don't say this because if they say it now, then the others will also move. And a lot of companies are using blockchain. In fact, I worked with some clients from banks that were using blockchain internally without mentioning that they were using blockchain. The day they are able to implement it, they will openly say that they used blockchain.
So they all want to be a part of Web 3 So with Web 3, it's not that a lot of companies lost; they will stay; but the data will remain with you. Google will survive, Facebook will survive, but the companies that will not move, like Nokia , say that they do not want Android. Eventually, they will die. As a user, you will not feel any difference. The user interface you have seen before will be the same and you will give them a password, but the difference will be that your Instagram password will be in your wallet. But with this, the user will feel nothing and the companies that are not transporting will vanish. Sir, we have seen that Facebook has changed their name to Meta . That means a transition is in process. Sir, the viewers who are watching it right now, how can they learn about blockchain ? I had to be familiar with cryptography or learn web development. The first part of it is that if you know the basics, learning the advanced parts becomes very easy. I had a lot of interest in a lot of technologies, such as upgrading machine learning, but when I saw blockchain, I saw that there was nothing new in it.
I have worked with cryptography for some time, and a lot of my sessions are about distributed computing. I have good enough networking knowledge. So when I saw blockchain, I thought this was all I knew. So it took only one month because I already knew the basics. If you have no basic knowledge of cryptography, then you will find some difficulty in learning blockchain. Because we start it from here and when we say encrypt , decrypt and you don't know what this is, So, before starting a blockchain, I would recommend learning the fundamentals of cryptography. You don't have to be an expert. Just learn the basics of networking; topologies, nodes, surver client , p to p, and you have to learn the concept of distributed computing.
Instead of facing a calculator If we have to add two numbers, I don't use a calculator . Nowadays, I just go to Google and search for it, and it is calculated by their calculator, and the processing is done on Google servers. Consider that the calculation of two numbers does not take place on your computer, not on Google surver, or in distributor networks with any single machine. So if you learn all these concepts, it makes it very much easier to learn blockchain. It's not that you have to be an expert, just learn all the basics first, then you can start the journey of blockchain.
If a student is trying to start blockchain and he wants to do a project on it, say he wants to make a Facebook, how much time will it take? If he has no basics, then it will take a minimum of one year At first, learning all the basics takes 2 months. It depends upon the student's commitment to how much time he can give it. Students who are in college can not give enough time because of assignments and other problems faced in college life. But if they can give 1 or 2 hours a day, then it will take one year . It takes about 2 months for the basics, and then you have to understand how the blockchain technology works. And to learn blockchain technologies' working formula, learn Bitcoin technology. It cannot be developed in bitcoin. So, when it comes to development, there are various blockchains for various applications, such as Ethereum.
So, learning it takes two months as well. Then the programming solidity, like if you know a programming language like Java , Javascript, C or C++, will make it easy to move. So 1 month for programming Solidity, and if you don't know any language, then Solidity itself will take 3 months. In fact, they must know at least one language, and they will frequently be confused about which language to learn first. I always said that you just start with any language and learn it completely. It matters what you learn; if you learn C++, learning Java will take you two days. I learned C# in two hours because Java C sub is the same. I will learn Python in two weeks because I already know Java. At first, you have to know any language to make this all easy. Now this takes 5–6 months, and then you start making the application.
The problem is, this technology is new and if you are working with other technology like Android, if you stack anywhere, you have an available solution. Just go to Google in stack overflow and all the answers are available. But in blockchain, there are not enough answers available, so if you stop anywhere, it will take around one week to solve the error. And this suggestion is for all: if you face a problem, post it on Stack Overflow because some people know the answer, but why do they give answers when there are no questions? So you post your question and wait for a week, and also try to solve it. If no answer has come and it was solved by you, then you should post your answer to help the community. In this process, a community is built up. Because until a group of people do not support a community, technology will not be involved. We say that this company has done this, but the company does not do anything; they just use the technology. People will use libraries created by communities such as Java, Android, and AIML.
Until there is no library, how do people use them? and you can be a part of this community. The advantage of blockchain learning is , which is asked many times, why blockchain when we have a lot of options like machine learning, which is trending now. I said that it's not an option for you. You can do both because if you want to make a meta-varse of your data, then you can use a lot of technologies. It's not like it's also an option, but the advantages of blockchain are that you will get an early advantage. Just imagine the person who has learned machine learning before, and when the machine learning is boosted, they are the early adopters of machine learning. With whom do you teach machine learning ? The person who has experience of 5 years, or the person who learnt this recently and now teaches, or the developer ! And blockchain is now in this phase and the use case is made by you, like the example you shared.
If we want to include Facebook in it, then a lot of applications are now moved, and one of them is done already . Take Facebook as an example, and think that it will not be made till then. When we want to make something like Amazon, then we should have Amazon in mind. In the same way , if there is no application, the thing you make will be the standard, and then people will follow you. This is the advantage of being an early mover. So this is the time to learn . Yes, a lot of jobs are not available in India. Actually, they are available, but people are unable to find them Because companies don't want freshers, they want those people who have already worked in other technologies and now know blockchain, so that they know both how technology works and how blockchain works. But in the next one or two years, a lot of jobs will come, and you have to be ready for them.
A lot of people say that I'm not lucky and you are lucky. Actually, nobody is lucky. I just prepare myself for this at the right time. An opportunity always comes, and you have to be ready for this opportunity. Your friend informed you that his company has a requirement for blockchain, and how will you get a job if you are not prepared? So you are lucky at that time when you are ready for this thing.
So this is the right time to learn blockchain. Sir, we know that all companies are working on blockchain in the backend because they know they must be ready if a market transition occurs. Sir, I want to ask you one more question. Is there a difference between bitcoin and blockchain? Because of this blockchain, the whole market of cryptocurrency is rolled over. So is this blockchain or anything else? In the last 3–4 months, I had an interesting conversation with a well-known industry professional who worked in technology, and he asked me, "Nowadays, you are working on what?", and I said that I am working on blockchain.
And as for his reaction, it is not legal! and I think for sometime about how I can answer this question. It is actually the mindset of a lot of people that the blockchain is equal to Bitcoin. But it is not . It can be explained this way: the internet is a blockchain, and the service we provide on it is bitcoin. So, cryptocurrency is just one application in this eco system. A lot of things are illegal on the internet, but Google is not. As previously stated, torrent piracy is illegal in all of its applications. Now, blockchain is a technology, and cryptocurrency is its application. And it started with bitcoin because technology never came before the application of it came forward. The technology is zonal. In fact, they started working on it in 1992. A man named Nick Szabo believes that how long corporations have power and how much power banks have. We say that inflation happens and recession comes, but the power of HTS is held by banks and the wealthy. The poor always suffer in the wake of the financial and economic crisis.
Have you ever heard that, because of inflation or recession, a rich person can become poor? They have the power to control it. The effort to remove this system technology started a few years ago. But how do you get it to the market? So a group of people! Nobody knows that they were a group of people or a group of companies ! This is also a theory that some companies, and one of them is Samsung, use because it stands with Satoshi Nakamoto.
Now this company cannot say this because it will take an objection from the government that why are you promoting this technology which is not regularised? So it has a lot of theories, but who has taken it and made an application on it named "Cryptocurrency" and launched it. I think that they don't want to launch bitcoin but want to launch blockchain, but with blockchain, why will anybody come? So they built an application and launched it. and a lot of people miss using bitcoin. And bitcoin will never be an asset, as it was not for transactions. Some people think it is an asset. People also compare cryptocurrency with the stock market . Like if you want to make an investment, you have the stock market and cryptocurrency, it was an investment opportunity for some people who have the power, like Elon Musk said to buy Dozcoin and watch the value increase.
So, while cryptocurrency has its own ecosystem, Bitcoin and Dozcoin do not. On the other hand, Ethereum has its own ecosystem. As a result, it has a fighting chance against cryptocurrency, which has its own eco system. Sir, will you please define what an eco system is for viewers and why does BitCoin not have an eco system ? As previously stated, we can create our own blockchain apps. But how will the app be built ? As in Web 2, if we want to make an app, we have to specify what kind of app it will be. Is it a mobile app or a web app? And if it is a mobile app, then on which platform will it run? Is it Android or iOS? If there is a platform where the app will run, If web then have to deploy it on Amazon, Google, or Microsoft.
They give us a platform where the app will be deployed . If we make an app on blockchain, then where will it be deployed and where will it run? In Bitcoin, we cannot do these things because there is no processing power where an external application can run . If you make an app, then you need a platform to run it on, which Ethereum can provide. Ethereum says that you make an app and we have a platform where it will run. So, in order to run an application, you need a platform, libraries, and users.
If you make the app but don't know who will use it, then Ethereum has the users also. Every time you do some transaction on Ethereum, a small amount of money goes to those who are helping . So every time we say that something is under process, it will not be free. In fact, if you use something on Amazon, you will be charged for it. They will charge you for your run time. I have a website on Amazon.
There was a bill from Amazon every month. Here I am paying for my website. As a user, you will not pay . As with blockchain, we have to pay for each transaction. As a result, a currency is required for this transaction, and Ethereum offers a currency, a platform, a user, and developers. This all makes an eco system. Not only Ethereum, solana, polganout, neo, and polygon are eco systems. Polygon works on ethereum, so it came in layer 2, but they are all eco systems. It's not that Ethereum is the best, just that it has the advantage of being a fast mover, which also comes if you learn blockchain. Ethereum is not the best, but a much better blockchain ecosystem will emerge. This thing is that a lot of people came to ethereum, like developers, users. And if you ask which is my favourite platform, it's Polkadot. The reason is that the co-founder of Ethereum has made Polkadot. They felt that ethereum has already achieved success, but that it lacks sufficient scalability options.
The thing they wanted to do was not possible in ethereum, so they launched a company named parity. They have made a polkadot eco system where we face a problem. When we work on ethereum, then this is a blockchain, and with this neo, which is also a blockchain, For now, if you are making an application here, there will be no communication between two blockchains. polkadot says that they can communicate between two chains. So I think this is the most futuristic application for scalability and where the user has to move. So polkadot is my favourite pattern. I did not work with polkadot enough and I don't know its drawbacks. After working with it, we will know its drawbacks. So Sir has told you the right thing that you start now to take first mover advantage or if you came late have to be the best, which percentage is very small.
So you can do a lot with this first mover advantage. Sir, please tell me if you are investing in crypto or if you just see it as a transaction. I mainly look at it as a transaction, and some of my clients send me money in crypto. Maybe they don't want to show the government or they don't want to pay the transaction fee. Because in forex, when they send us dollars after coming to India, the transaction cost will be taken. So they send me in crypto and for their transaction cost and when it comes, I convert it into INR. I just invest for learning purposes, like how the investments happen, how the charge is delevered, and why value changes? When the craze started, I put a lot of money into it, but after a while, when its value had skyrocketed, I needed it and had to sell it, and the market crashed after a week.
So I am lucky that I can take it back in time, but not all, and I will endure the loss today also. But profit was more than loss. But again , don't take crypto as an investment option. If you have a lot of money, you can invest some, but don't take it as an investment option. If you have a lot of money and you have to invest, then invest in those coins that have an eco system like ethereum, which has an eco system so it can be large, but dozcoin , Shiba coin, and bitcoin have no eco system. As a result, many people treat it as if it were gambling. You just read about blockchain and cryptocurrancy and learn, then invest.
Sir, One more thing that people are talking about is NFT . Sir, what is NFT? The idea was that things that exist in the real world, like me and this camera, all have an identity in real life. From which we can see that the cameras are the same and both have the letter R, but something is unique. It can be different numbers. But when we take it to virtual life, things are copied very easily. If I take a photo of this thing, then according to me, this photo has a value, but I bought this photo for 10 rupees. Then I will sell it to you. You give me 5 rupees, but we can't find the identity of this photo. So we said, to convert a physical world into a virtual world, how will it happen? In the metaverse, there is an option by which you can buy a proparty.
As an example, we have Mahi Sir, and we both stayed in the same building, and one of my assistants stayed with me, with whom I discussed Metavarse. He did research on it and purchased the whole building for 500 rupees. I asked him why he purchased it for 500 rupees. He said that if all the things came together in meta, I would have the right to this building. If anyone has to stay here, like, I also have a building there, but this building is owned by him, named Chirag. I have to take it from him because he sold it to me for 1 lakh. So he got the profit. How can you prove that the building is yours? It can be purchased by anyone. So blockchain has an option where you get an identity. And in currency, we call it a token, like bitcoin is a token, Ethereum is also a token, and this image is also a token.
Now the difference is that we can break bitcoin, like I give you one bitcoin and you return it. Now, this is a fungible token that can be replaced, but we need some tokens which are non-fungible and cannot be changed. As an example, I have a relative who has now passed away, and he gave me a coin. For me, this coin is non-fungible because it cannot be replaced, but it is still a coin of 5 rupees. Now if I show it to you and say to Rohit, "This is the token," which is that 5 rupees coin and you take it and give me the other one, then I will feel a problem because it is non-fungible. So if we take an identity in a virtual world where we change a house into a token, it is nonfungible . So the currency can be changed, but the real life assets are not changed. and these we call "NFT's." But now what is happening in the market is a complete scam. The monkey and cat become the NFT, which is a scam. Yes, gambling can provide value in the future, but the real benefit is that you can use your house or camera as a NFT.
I take a photo of it and it becomes the NFT, which means it is mine. Recently, Ramesh Sippy, the producer of Sholay, posted the poster of Sholey as a NFT. Someone bought it. If I am the biggest fan of Sholay, I will purchase it. So for me, this provides a value. This was my favourite movie, and for this movie, some changes came in my life and it made an impact on me.
So for me, this poster is very important. It can be possible that one is a much bigger fan of it than me. Then I bought it for 10 lakhs and he gave me 20 lakhs for it. It becomes an NFT, which means its value is upgraded. Sah Rukh Khan is my favourite actor and one of his phones costs 50000 rupees. I can pay 1 lakh rupees to use that phone. It can happen that someone is a much bigger fan of Saha Rukh Khan and he bought it from me for Rs 2 lakhs. So in this way, the value of NFT is increasing. It must have some value. Now the monkey photo can be valuable if I take a monkey photo for 2 rupees and Cristiano Ronaldo uses this monkey image in one tweet. Now the value of a monkey has increased. The fan said he would give me ten lakh rupees in exchange for the token. The value of NFT's increases in this way, but nowadays, what is going on in the market is almost gambling. The actual NFT is the physical image of one thing which we can convert into a virtual images, and this photo cannot be copied.
It can be copied, like I have a screenshot of Sholay's poster and I will forward it to you. Then you have the copy, but I will be the owner of this photo. They take everything for themselves and refuse to pay the siger either I heard about T series and how they will not pay the singers, instead telling them to do stage shorts and earn money. So, as a musician, you gave your all, and the company benefited.
Now it's possible with NFT that you create a song and licence it. It is yours. Now you can sell it too. So you are a great fan of A.R. Rahaman and you give him a lot of money. You have music and he has money. So NFT provides a value and everything has a different identity. Sir, I have seen a student in Linkdin who is now in his 2nd year who has made a transaction in blockchain. We use digilocker and where we take documents, he takes them on blockchain.
So one time you take the documents and then no other transition will happen. one-time transition and everything will be updated. It seems that he thought a little, but the impact of it could be greater. Sir, my next question is , how many types of blockchain ? In fact, there are 2, but one is famous and one is not. The most famous is the public blockchain, like we are talking about ethereum and etc. These are all public blockchains where normal users can make apps and the data behind them is open.
The advantage of blockchain is that it is transparent, and it is also its drawback. As an example, I send someone money there. My address is sealed. a website called Ether's Scan and basically the transaction made by us in ethereum and if you go with this adress and scan this adress all of my transaction are shown to you. You cannot search my name, but you can search my address I had a transaction from Singapore in crypto and he sent me an address. I gave it to Ether scan and press enter it showed me all his transactions from this same address. So it's very risky that his transactions are shown to others. But the transaction history is not very risky because it will show the transaction amount and the address but no name. So there is an option in Ethereum where every time you try to transfer you can change your address, but most of the time people forget about it.
So it's very risky for companies to control their privacy and secrecy. like kfc dont share his reciepy with anyone so if kfc give their reciepy in web 3 then everybody can see it. As a result, rather than using public blockchain, we should use private blockchain. As an example, a lot of companies made a product together. Just like the iPhone , Apple doesn't make a device by itself.
A lot of companies are involved. Like motherboards, chips, screens, cameras, they are all not made by them. A group of companies worked together. And they had continuous communication because, depending upon your motherboard, the chip will be designed and, depending upon your body design, the camera will be added. It depends upon your camera. They decide how much will be the bump by which the cover will be designed. and they want to work together, they don't use public blockchain. Because with this, their data will be shown to others. They can use private blockchain, and these six companies can collaborate and communicate with one another in real time. and their data will be shown only to them and not to others.
There is one more advantage that Apple has contracts with Samsung and LG . Samsung makes a display for the iPhone and LG for the Mac. Now, if they are on the same network, then it also creates an issue. Because everything is visible between them in privet. And if Apple pays Samsung X amount, LG will say they want the same amount. So we have to maintain secrecy like privet in private. So the big companies, like the banks, are using private blockchain. who are now at a consumer level B-C using public blockchain. So B-B is the private mode, and B-C is the public mode. So, if you want to start learning, go with the public. because privet has a lot of learning.
Instead of 4 years of mine, 3 years have passed with privet and 1 year is for the public. Sir, didn't you think that in privet blockchain they have a centralized view? they should have come and this shouldn't have happened? Another blockchain idea is that each will create a node, such as Apple is a node, Samsung is a node, LG is a node, Intel is a node, So there is no central data management; they all manage their data independently. They wanted to work on it privately. So, they made it. It is not compulsory; it depends upon the use case. They have distributed it but they have done it between them, so they do not have the central power. What is the future of blockchain? Will it just be only hype? If a student learns it and then the technology does not appear, will it be a waste of their time? No One can't predict the future, but we can learn from history .
In school time, I used to hate history subjects because we were learning what they had done. But later, I came to know it repats itself. The evolution of technology always happens. Every technology has its own use case. Many people felt that AI had failed. Robots will come and kill the people, but they do not understand the main use case. In today's world, everything happens with AI. Google search there is AI. You know that even if you want to book a cab, AI is used to post a driver. Blockchain is at the same stage as AI was. People need more time to understand it's usecase.Yes, complete replacements will take too much time. We are not saying that Web 2.0 will be stopped; there are some use cases where Web 3.0 will evolve more.
"Blockchain" will come for sure. For how many use cases will it come or how fast will it be? We have to check. In the COVID period, the crypto market was bullish, so the attraction of people shifted from blockchain to crypto. which companies have a great vision and want to do blockchain development They made their own wallets and started making money because, ultimately, businesses want money. The focus was shifted, but now they are coming back and focusing on development.
If you have learned just now, that's how you can grow because community makes technology. Maybe in the next 2 years it will come. It will take 5 years max. Jac Dorsey, founder of Twitter, has launched Web 5.0. It is not a new thing, it is web 3.0, but he made it to work on web 2.0 and 3.0 simultaneously, so he named it 3.0+2.0=web 5.0. He said a complete replacement is not possible, so let's merge it. I have learned a lot from this session and I hope the students also learn a lot. Thank you so much. You came here and gave your time. At last, give some motivation to students. We had planned for this session to last 15 minutes, but we were so engrossed in our conversation that time flew by.
Learning blockchain is not a compulsive task. If you want to ask a guy what he wants to do, he will tell you what he is doing. If he is in AI, he will tell you to do AI. If he is in web development, he will tell you to do the same. Give time to every technology that you like and be a master of it. You can be a jack of all and a master of none. Thank you so much sir. Thank you so much, Rohit Bye Bye.
