As I understand it, the gist of web3 is to do away with the need for having centralized organizations who control a particular resource. For example domain names, identities, speech. In the beginning, the web was supposed to be an egalitarian and democratic space. Of course corporations and governments seized as much control as they could. Today we have companies that dictate arbitrary rules. For example, there is nothing you can do to grow your Twitter account. If Youtube decides they don't like you anymore, your audience is gone. Your domain name is not really yours, etc.
Supposedly web 3.0 would fix this problem by making sure decision power is decentralized. Will it deliver? I personally doubt it, because it's easy to create an anonymous oligarchy under an apparent layer of decentralization. Still, I'm sure some applications will succeed.
Supposedly web 3.0 would fix this problem by making sure decision power is decentralized. Will it deliver? I personally doubt it, because it's easy to create an anonymous oligarchy under an apparent layer of decentralization. Still, I'm sure some applications will succeed.