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THIS ISSUE OF C_NCENTRATE IS FREE THANKS TO TBD CONFERENCE
SO…IS WEB3 BULLSH!T?
Elon seems to think so, as do others, but they're maybe focusing on the wrong things. The term surrounds a vision of a decentralized internet (web 1 = static pages, web 2 = platforms); an internet built on the blockchain to make Google and Facebook redundant. If we look at the realities of these platforms, they have big issues. The win for many who are pushing the web3 agenda is to help them make more money without a third-party snagging a fee. Creators are excited for this reason, but there's a lot more than Web3 can help with. It's not just cryptocurrency. Tim Bray rightly points out, "Many are sceptical, and many simply point out that the term "Web3" now means "buy my cryptocurrency" and is thus polluted, probably beyond repair.".
The latter may or may not be accurate. The power of the blockchain to transform politics to retail is important. Trust and transparency are huge areas that need help, protection and foundations. Web3 will need to focus on these areas to be a success with the masses. What we're talking about is cryptography. A more secure and less hindered internet that doesn't require big platforms to control and use data for their own ends. A better way to think about web3 is that it isn't good or bad; it just is. A progression, if you like.
Robin Sloan from MIT says it best; "Ethereum should inspire anyone interested in the future(s) of the internet, because it demonstrates, powerfully, that new protocols are still possible. I do not think Web3 is a desirable or even tolerable path forward for this web right here, but I take its lesson well. "Code wins arguments", and so do clubs, and cults; time remains to build all three."
__ DO __ Read this collection of takes - we might be asking the wrong questions... // __ DON'T __ Bury your head in the sand - personally or professionally, now is the time to get involved, figure out your strategy and partners.
C_NCENTRATE RECOMMENDS:
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