There is an unfathomable amount of untapped value stored in unconnected entities. Whether they are objects, humans, companies, organizations or countries. Connecting them to the internet enables them to participate in an emerging economic system, potentially reaching their own goal while increasing the value of the overall system. While most unconnected entities are at the small end of the scale (there is plenty of room at the bottom), larger entities such as humans also often have difficulty participating in economic transactions that enable them to realize their full potential.
Recent technological advances enable the connection of a fastly increasing number of entities and enable them to exchange value autonomously, transparently and securely. Combined with the fact that this ever more finer grained internet is increasingly permeating the physical world, its value and importance is growing at an exponential rate. A website being down might not be such a big deal, but access and control over your heart rate monitor is a different story. You want that to be as secure as possible and not in the hands of commercial companies. The stakes are getting higher.
Past technologies led to an internet that depends on an ever shrinking number of centralized, power-hungry authorities. This had a number of seriously negative consequences with regards to security, privacy, transparency, dependency, scalability and maintainability. It takes a decentralized network to tap into the collective value of the smallest connections and unleash its emergent power on large scales. Recent technological developments make this possible. Benefits that used to require central authorities are now achievable in peer to peer networks without relying on third parties. Decentralized trust, accountability, identification, allow for transactions that cannot be accommodated centrally because of privacy concerns, latency issues, large-volume but low-value or complex one-of-a-kind transactions, etc. The result is a (re)decentralized internet consisting of autonomous entities that can securely transact in a peer to peer fashion. That is what we call Web11.