Bitcoin: The missing puzzle piece for the Internet

Bitcoin: The missing puzzle piece for the Internet
Bitcoin: The missing puzzle piece for the Internet

During Talent Land Spain 2024, Ángel Pardo presented an innovative perspective on technological evolution and the impact of Bitcoin on the digital ecosystem. Pardo, who has witnessed the three main phases of the Web (Web 1.0, Web 2.0 and Web 3.0) highlighted how each stage has faced skepticism before revolutionizing the way we interact and share information.

Pardo explained that each phase of the Web brought about a significant transformation. Web 1.0 allowed for the reading of content, Web 2.0 introduced interaction and information sharing, and Web 3.0 is revolutionizing with the ability to monetize and conduct decentralized financial transactions.

“Bitcoin is the puzzle piece that the Internet was missing,” Pardo said. While the Internet made it possible to send emails and share photos, it was not until the arrival of Bitcoin that digital money could be sent securely and without intermediaries.

Bitcoin, according to Pardo, represents a revolution similar to that which social media represented in the 2010s. Just as in its early days, when the utility of sharing stories and photographs online was doubted, Bitcoin and Web 3.0 face skepticism. However, Pardo is convinced that sooner rather than later, even older generations will take advantage of the opportunities offered by Web 3.0.

Angel Pardo at Talent Land Spain 2024. Source: CriptoTendencia

Innovations in the payment system

One of the key points of the talk was the explanation of how blockchain and Bitcoin are transforming payment systems. Pardo highlighted that technologies such as MetaMask have replaced decades-old bureaucratic processes with immediate, secure and practically cost-free transactions. This, according to him, is a radical change that democratises access to financial services.

Comparing Bitcoin adoption to that of the Internet, Pardo noted that Bitcoin and blockchain adoption is happening at a faster pace than the Internet in its early days. While AI adoption is slower, Pardo believes this technology will also be transformative in the future.

One of the main advantages Pardo sees in blockchain technology is the democratization of financial opportunities. In the past, the best investment opportunities were reserved for the wealthy. With decentralized finance (DeFi), anyone, regardless of wealth, can access these opportunities. The difference, Pardo explained, lies in knowledge and the ability to see beyond limiting beliefs.

Smart Contracts and the elimination of intermediaries

He also mentioned that Ethereum and smart contracts have made it possible to eliminate middlemen in various transactions. Just as the internet eliminated the need for travel agencies and record labels, DeFi allows individuals to conduct complex financial transactions without the need for banks. This includes lending money and generating interest, functions that were traditionally reserved for financial institutions.

Pardo also spoke about the benefits of decentralized exchanges. Thanks to the blockchain, liquidity pools allow people to deposit their money for others to exchange, generating commissions and, therefore, monthly returns that can range from 5% to 45%. According to Pardo, this can offer significant monthly returns, further democratizing access to financial services.

Ángel Pardo ended his talk at Talent Land Spain with an optimistic message: blockchain technology and Bitcoin are not only here to stay, but they have the potential to radically transform our financial lives.

Like previous stages of the Web, the adoption of Web 3.0 and cryptocurrencies will eventually integrate into our everyday lives, offering unprecedented opportunities for everyone.

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