Concert is a Web3 app
When we started building Concert, Web3 did not yet exist — at least not the term. However, we recognized the technological breakthrough that would become Web3 — the ability to replace a third party storing your critical user data, with your own public/private keys with the data on the blockchain.
That’s a lot to unpack, but at its core, Web3 is a set of technologies that enable backend innovation. Historically, when you used an app, the data was stored and controlled by a third party (like how Dropbox stores/controls your files if you use them). This third party could delete/modify/restrict access and the ability of a user to move data to another app or innovate on top of its data was zero. This was a change from previous WebX protocols, which we’re roughly:
Web1: It works! Barely. Front ends only run on browser and are static.
Web2: It works well: Front ends are dynamic and are web/mobile/voice apps.
Web3: Backends are no longer controlled by a third party. You control your data. You can move it and your permission is needed to access it.
Web3 changes this. Web3 is a set of technologies that store information on a public blockchain and then can manipulate and update the data using a public/private key pair. As long as the user possesses the public/private key pair (often through a browser extension or similar technology), the user can access, manipulate and transact with the data. The third party apps can provide convenient functionality for interacting with the data, however any app has access when granted by the user.
For example, when using a Web3 DeFi exchange (DEX), you connect your wallet, which then allows the third party app access your wallet, and when you provide permission, to transact and manipulate your underlying data. When you disconnect your wallet, such interaction is gone and the third party can no longer interact. And, you can connect to any exchange and interact, not just the one that you began with. This is an underlying pretty cool concept — you control exactly when and how your data is used, and it is portable across apps. This is Web3.
So, when we began Concert, we had this exact vision — not just copying Dropbox or another file sharing app. To enable this, Concert is at its core a wallet. Much like Coinbase, we made the decision to abstract ownership and control of the keys for a more intuitive and clearer user interface in the beginning. However, our roadmap calls out allowing users access to their keys, and consequently all the data on the Concert system. For ease of use, we have wrapped file sharing functionality, however, anyone could take the core Concert protocol, control the keys and recreate Concert — or improve on it. In fact, we are working to build an ecosystem where third parties will extend Concert and provide additional functionality (integrations, devices, and things we can’t imagine). And, users will be able to move their data between systems as well.
When you log onto Concert, you access your wallet. This has your keys held by Concert. When you register a collection, this stores the information on the Blockchain and allows your key to access/manipulate this transaction. Subsequent transactions such as acceptance are authorized as well to store on the blockchain. This is all viewable through the Concert web app, but could be viewed with any blockchain viewer, or custom dapp written to access the blockchain. As we evolve our roadmap, more and more will be exposed and more parties will build on top of these transactions.
This is Web3 and we are excited to be here and watch it evolve.