The main issue with "Web3" is that it moves records of transactions from many private places to one public place. Sure this one place may not be controlled by a single entity, but it facilitates tracking at an unprecedented level.
Cryptocurrencies are the ultimate example of this and are an absolute boon to tax collectors, forensic accountants and fraudsters. In our current economy financial transactions are recorded in millions of individual ledgers that are kept private, or in the case of cash transactions are often not recorded at all, or are not linked to an individual. There is no central ledger.
With crypto currencies however you can not only see all transactions but also trace them back to individual users as long as you can link a wallet to a person. This is a massive increase in centralisation yet discussion of whether this is a good idea seems to be entirely missing. The notion that centralising transactions in one place is somehow an example of decentralisation just seems mad.
Cryptocurrencies are the ultimate example of this and are an absolute boon to tax collectors, forensic accountants and fraudsters. In our current economy financial transactions are recorded in millions of individual ledgers that are kept private, or in the case of cash transactions are often not recorded at all, or are not linked to an individual. There is no central ledger.
With crypto currencies however you can not only see all transactions but also trace them back to individual users as long as you can link a wallet to a person. This is a massive increase in centralisation yet discussion of whether this is a good idea seems to be entirely missing. The notion that centralising transactions in one place is somehow an example of decentralisation just seems mad.