I find it so difficult to understand why there isn't a greater focus on first-principle approach to the web3 discussion, and wonder if perhaps the reason is that few people can make a cogent argument for their pet project/coin/DAO/etc. on those principles.
All the inefficiencies aside (for now, although ultimately they'd need to be addressed), the notion that you can create a public ledger that can be trusted without a single centralized authority DOES seem like a really interesting innovation. Just go ask some of my family members who lived overseas under regimes of hyperinflation just how valuable the idea that you could have a currency that no one controls is.
But NBA TopShot? CNN clip ownerships? It seems to boggle my mind how that is related... AT ALL... to this potentially new property afforded by blockchains. Over centuries it seems we have evolved institutions, laws, etc., PRIMARILY to address this issue of trust. But rather than seeing web3 projects that seem to tackle issues where does institutions have failed, it seems everywhere I turn is just someone doing something that can be accomplished the good ol' fashion way but adding a crypto element to it because of the hype/FOMO/etc. I mean, take the topshop example... could the NBA really not have done that with just.... yknow... a database?!?!?
All the inefficiencies aside (for now, although ultimately they'd need to be addressed), the notion that you can create a public ledger that can be trusted without a single centralized authority DOES seem like a really interesting innovation. Just go ask some of my family members who lived overseas under regimes of hyperinflation just how valuable the idea that you could have a currency that no one controls is.
But NBA TopShot? CNN clip ownerships? It seems to boggle my mind how that is related... AT ALL... to this potentially new property afforded by blockchains. Over centuries it seems we have evolved institutions, laws, etc., PRIMARILY to address this issue of trust. But rather than seeing web3 projects that seem to tackle issues where does institutions have failed, it seems everywhere I turn is just someone doing something that can be accomplished the good ol' fashion way but adding a crypto element to it because of the hype/FOMO/etc. I mean, take the topshop example... could the NBA really not have done that with just.... yknow... a database?!?!?