As an investor in emerging technology and a nascent observer of Web3, I've spent some time researching this phenomena that has brought many skeptics to the fore, in the midst of whales, and dare I say, a handful Crypto and NFT Kool-Aid drinkers, who have amassed fortunes in the process.
I get that the current web needs some serious fixing. If anything, Web2 has continued to tighten and centralize more control in the hands of Big Tech, governments, and financial institutions. The publishing industry is dying as FB and Google have all but severed the revenue streams for the Guardian, now Buzzfeed and New York Times, relegating these once-giants to plead for monthly donations to stay afloat.
The mortgage crash of 2008 gave rise to Bitcoin, with the promise to separate the financial system from the powers of a sovereign nation, effectively democratizing wealth and financial control for each individual on the planet. And while the last decade has seen an explosive growth in Bitcoin valuation, the extreme volatility within its expensive financial system has kept the mainstream at bay.
Now, enter Cryptocurrency, the rise of Decentralized Autonomous Organizations and Non-fungible tokens (NFTs) and the surge of the Metaverse fervor. The FOMO created by these emanations continues to make the average Joe question the viability or even sustainability of the next iteration of the Internet: Is Web3 to be or not to be?
Will Web3 prevail despite its current environment? And for that to happen, what factors will need to be in place to create a sustainable alternative for mainstream audiences?
I've consumed the views of the critics: Stephen Diehl, Dan Olson, Jacob Silverman, Professor Galloway, and proponents of Cryptocurrency (especially Bitcoin) like Alex Gladstein. I've also decided to bring in some experts on both sides of the aisle: tokenomics practitioners and crypto investors as well as security and privacy experts with healthy doses of skepticism to debate whether we, as a society, are ready for and will accept what some say will be an inevitable evolution to decentralize the web and finally bring more monetary opportunities to individuals and create truly human-centered, and human-controlled environments.
Continue reading: https://www.forbes.com/sites/hessiejones/2022/04/02/web3-2be-or-not-2be/?sh=1de4e0d9f4a8
I get that the current web needs some serious fixing. If anything, Web2 has continued to tighten and centralize more control in the hands of Big Tech, governments, and financial institutions. The publishing industry is dying as FB and Google have all but severed the revenue streams for the Guardian, now Buzzfeed and New York Times, relegating these once-giants to plead for monthly donations to stay afloat.
The mortgage crash of 2008 gave rise to Bitcoin, with the promise to separate the financial system from the powers of a sovereign nation, effectively democratizing wealth and financial control for each individual on the planet. And while the last decade has seen an explosive growth in Bitcoin valuation, the extreme volatility within its expensive financial system has kept the mainstream at bay.
Now, enter Cryptocurrency, the rise of Decentralized Autonomous Organizations and Non-fungible tokens (NFTs) and the surge of the Metaverse fervor. The FOMO created by these emanations continues to make the average Joe question the viability or even sustainability of the next iteration of the Internet: Is Web3 to be or not to be?
Will Web3 prevail despite its current environment? And for that to happen, what factors will need to be in place to create a sustainable alternative for mainstream audiences?
I've consumed the views of the critics: Stephen Diehl, Dan Olson, Jacob Silverman, Professor Galloway, and proponents of Cryptocurrency (especially Bitcoin) like Alex Gladstein. I've also decided to bring in some experts on both sides of the aisle: tokenomics practitioners and crypto investors as well as security and privacy experts with healthy doses of skepticism to debate whether we, as a society, are ready for and will accept what some say will be an inevitable evolution to decentralize the web and finally bring more monetary opportunities to individuals and create truly human-centered, and human-controlled environments.
Continue reading: https://www.forbes.com/sites/hessiejones/2022/04/02/web3-2be-or-not-2be/?sh=1de4e0d9f4a8
