About the current moment

In recent years, central banks have "printed" a huge amount of money under various pretexts of fighting the effects of pandemics, climate change, stimulating economic growth, and all sorts of other "fight for all good against all bad".

This has created unrelenting global inflation while the "freshly printed" money doesn't work. Even after interest rates rise, it is difficult to find real (minus real inflation) returns in a "classical" economy.

50% of the growth in the dollar monetary base has occurred in the last three years. Bureaucrats and monopolies around the world are rapidly eroding all the previously created wealth of ordinary people by money issues. This cannot continue for long. Ahead, and very soon - another financial crisis.

It is worth remembering in this context that Bitcoin was born precisely as a response to the crisis of confidence of 2008, and Ethereum, as the basic environment for DeFi, was born in 2013, after the European debt crisis. The crypto world, in the short time of its existence by historical standards, has always sought to provide an answer to the crisis of confidence in "classical" institutions.

Now it is time for new challenges. What will be the answer to the future crisis of confidence in classical finance?

A new level of blockchain technology

The development of Internet technology has gone through a series of stages, each of which has shaped new markets and areas of communication:

  1. The invention of the WWW hypertext service based on early Internet standards and infrastructure. Internet pages WEB 1.0 formed the first boom of digital commerce.

  2. The emergence of social networking and the increasing availability of computers and smartphones. WEB 2.0 formed. The digital commerce market grew by leaps and bounds and digital giant corporations emerged.

  3. The emergence of the technology of transferring value over the Internet - Bitcoin. It was an attempt to solve the crisis of confidence in the global financial system after the crisis of 2008. The cryptocurrency market emerged.

  4. As the cryptocurrency market developed, there was a need to guarantee compliance with certain rules in the absence of regulators. This is how the Ethereum network with the ability to execute smart contracts appeared. On its basis born decentralized crowdfunding market through ICO, and the WEB 3.0 industry began to form.

However, the ease of launching projects through ICO with the lack of digital institutions of trust and reputation led to the emergence of a large number of scams. This limited the opportunities of the WEB 3.0 industry and led to the disappointment of investors.

The key problem of Web 3.0 is the lack of subjectivity.

While in Web 2.0 subjectivity is somehow marked, Web 3.0 has decentralized finance and digital goods, but no digital personas yet. This prevents the development of a decentralized digital economy of direct connections and the development of decentralized credit. The word "credit" comes from the Latin credo - "trust". There is no credibility - there is no credit. There is only the bazaar economy, where all interaction is reduced to spot transactions, without any guarantees for the buyer.

TNS solves the problem of lack of subjectivity in Web 3.0 by starting the next stage of development: the creation of digital tools of reputation and trust, which will transform the digital crypto-space into a full-fledged space of economic activity with digital brands, property, credit and analog of "securities", with everything that needs the institution of reputation.

The TNS project is the "Fifth Element" that realizes the fifth stage of Internet development, laying the systemic foundations for trust-based digital interaction on the Internet.

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