“Originally posted on twitter June 21st 2022”
ENS as the ultimate Digital Real Estate.
And possible far-reaching implications of corporate private ownership of language.
ENS is, in my view, the future of digital real estate; and I also contend that high net worth individuals,
but most importantly corporations
will end up hoarding any and all ‘valuable ENS assets’ in the coming years.
Firstly, I posit Ethereum will remain the biggest and most used smart contract platform going into to the future.
(see EY’s blockchain leader comments below).
If you dont agree with that premise, I guess dont bother carrying on reading this post.
[Ethereum could ‘take over everything’, and there won’t be a multi-chain future, says EY’s blockchain leader]
Also the adoption of web3 and the amount of funding being poured into the space is unheard of, despite the macro economic outlook.
Additionally, all of these technologies - VR, Metaverse, digital payments - point to a bigger human presence online.
“Software eats the real World.”
But why ENS?
Simply put, ENS is the ETH standard for web3 identity.
In other words, ENS gives participants the opportunity to give a human-readable name to their new address on the blockchain.
“Blockchain eats the real world?!”
Now that we have established that adoption is picking up and is mainly on Ethereum, the question becomes why wouldn’t you want to secure your place on Ethereum blockchain.
In this transition, all participants will be faced with the 'ole age question: where will you set up shop?
The answer? Location, location, location!
The way individuals and companies will have to brigde the divide between the real world and blockchain is by the power of words.
And more often than not, the most desired/optimal new location is a match between their IRL identity/brand.
“The power to use words is a unique and powerful gift from God.
Our words have the power to destroy and the power to build up (Proverbs 12:6).”
Which brings me to my final point.
All words are in play, meaning that the market will allow all terms to be exchanged between participants, positive or negative. The negative terms will carry with them a scarlet letter of shame for whomever custodies it, so it doesn’t bother me
They will be taken out or shunned away from the light of everyday interaction.
Positive terms however, will more likely than not be taken by big corporations with big pockets.
These companies will most definitely used them as part of their identity or at least as a brand identifier. Which in my view, essentially co-opts language in their favour, and in a way that was impossible until now.
Words such as love or hello, will forever be linked to a corporation; thoughts formed by those words will be able to reach the depths of your subconscious and linger there, conceivably forever.
Perhaps its a losing battle even before it starts, but our duty is to keep these words way from ruthless corporations.
But then again languages do evolve and so the human spirit. We might come up with different words to express the same feeling.
That is my silver lining.