#5 What's the Point of Blockchain? (Click here to find out...)

Welcome to?Edition #5 of 'This Week in Web3' - an all-in-one source for the most interesting Blockchain, Web3 and Metaverse content on LinkedIn, as curated by?me! If you didn't catch some of these awesome posts, here's a quick recap...

????♂? What is Blockchain Good For, Anyway?...

The first post of the week is a look back at last week's Friday Poll, where we asked the community what was the most valuable feature of Blockchain technology. And it was quite a close-run thing...

It's a bit of an unfair poll, because you get all of these features together in Web3, but if you break down the features into component parts or outcomes, it can make it easier to answer the all too commonly asked questions: 'What is Blockchain's Killer App?' or 'What Problem Does Web3 Solve?'.

"No wonder the rest of the world has a hard time explaining, or even loving Web3, because up-to-now we probably haven’t given them enough to relate to or be excited about."

If you ask certain maximalists, they'll say Bitcoin fixes EVERYTHING... But in reality it's a big ask to explain the value of decentralisation as a concept, then Blockchain as a technology, and then wind back all the bias and second-hand stories that have coloured peoples' perceptions and beliefs so far.

There were some really thoughtful comments to this post, so check out the full version here.

?? Gary Gensler Ducks the $1Trillion Question...

If you don't know who Gary is by now, he's the head of the U.S. Securities and Exchange Commission (SEC). The organisation responsible, in part, for regulating Digital Assets and Cryptocurrencies.

Why is Gary in the news? Because when asked a straight question by Congress on whether he sees Ethereum (the 2nd largest Cryptocurrency after Bitcoin, and largest Blockchain developer ecosystem) as a security, he could not give a straight answer!...

The head of the organisation that defines what is or is not a security in the eyes of the United States, could not give a definitive statement on the regulatory status of the world's most significant Blockchain. Not a good look, Gary...

During the hearing, Chairman McHenry reminded Gary that the SEC has taken 50 different enforcement actions against the digital asset industry. And they did so without laying out clear rules of operation for stakeholders.

“Punishing crypto market companies when not clearly mentioning rules as to how they should comply is not ideal. Regulation by enforcement is not sustainable."

While the success of Web3 is not entirely dependent on US regulation, it's a large market with a number of significant Web3 organisations. Here's hoping we can get some clarity, maturity and support going forward.

You can click here to watch the video.

?? a16z Releases It's Web3 Market Outlook

Love them or hate them, a16z crypto have strong inside knowledge and significant investment in Web3. So when they publish their outlook, it's certainly worth reading. Yes, there will be bias in what they choose to show, or the narratives they would like to raise, but there's good data in here also...

While crypto market caps could be viewed as the equivalent of high-growth tech stocks (e.g. volatile, heavily sentiment-based, but still a 'metric') I always like to look at developer activity and code commits as leading indicators of progress and potential value in Web3 to-come.

There is also the Demand Side to consider, where and when we see more active users participating in Web3 activities, with apps, or even with DAOs...

The report has a good range of stats, case studies and forecasts for the year to come in Web3. While the usual caveat of 'don't trust just one source for your opinions' applies, you can read the report and comments here.

? Web3 is Not Just Blockchains

Sure... Bitcoin, Ethereum and the Blockchains that followed were the catalysts for Web3 and the decentralisation 'movement', and we should remember the 14+ year journey it's taken to get here.

However, Web3 is not about building Blockchains. Blockchains are the decentralised infrastructure on which we build, but in reality there's much more to it... The move to Web3 is possibly the biggest digital transformation of them all, as it requires rewiring technology, economic structures and the mindsets of individuals, organisations and governments. No small task.

This infographic from the Global Blockchain Business Council (GBBC) nicely illustrates the importance (or contributions) of other technologies towards building and enhancing the decentralised web.

It was never only about Blockchain. And I have seen many out there saying "Crypto's f*cked so you're trying to 'claim' AI now". Anyone with a modicum of tech knowledge can see you need more than just infrastructure to deliver apps and experiences. But in case that wasn't obvious, you can read the full post and some rather entertaining comments here.

??? Big Brands Building With Blockchain

According to the team at NFT Tech (NEO:NFT) 315 brands launched 526 projects in Web3 in the last 12 months. And the majority of those were brands worth $1Bn or more. So maybe 'mainstream adoption' is closer than we think...

More than 20,000 patent applications have been filed to the USPTO over the past 12 months for proprietary NFT, Crypto or Metaverse technology that brands would like to use to ‘beat’ their competitors with.

And to be clear, we’re only just starting to see valuable, viable and sustainable projects emerging that deliver for customers, or that drive loyalty, or unlock new product categories. I mean, 2 years ago Automobili Lamborghini S.p.A. was launching an NFT stamp collection!

So whether you like the term or not: “We’re still early”

Check out the full report on Brands in Web3 here.

?? Fresh Clicks: Nike.Swoosh 'Our Force 1' Trailer

One such example of Web3 and NFT leadership is that of 耐克 . With an early acquisition of RTFKT and a deliberate and high-quality focus with its digital sneaker propositions and collabs, Nike is definitely one of the most interesting brands to use Web3 tech to-date.

Check out the trailer for the new 'Our Force 1' experience. The drop is over 100,000 pairs of digital sneakers, but only ONE white-on-white classic AF1. Wonder how much they will be worth to sneaker freaks one day...

?? Blockchain Won't Save the World:?Foundations for Success in Web3 with Frederik Gregaard , CEO of Cardano Foundation

Dropping TODAY at 1300 UTC, an intimate discussion with the Foundation CEO of the second most valuable smart contract Blockchain after Ethereum.

AND the timing is perfect, as Cardano Foundation just released their first ever annual report, which aims to provide some transparency and accountability in terms of the Foundation's mission to support operational resilience, education and adoption. Always good to see L1s offering disclosures and building in public.

Sign-up for the LinkedIn Live session here to put your questions to Frederik, or watch the live stream at a later date.

?? Blockchain Won't Save the World: Marketing for Blockchain, and Blockchain for Marketeers - with Blokhaus

The latest podcast?is a marketing masterclass brought to you by?Mark Soares?and?Carolyn Rogers?from ‘Full Stack’ Web3 Marketing Agency Blokhaus. We cover how to create the perfect Web3 event, why brands are interested in Web3, and the interesting concept of the 'Engagement Ponzi'

If you're a marketeer, or someone responsible for Growth or Marketing in a Web3 project, then you NEED to listen to this episode.

?? RightClickSaveTheWorld: Proof of Attendance - The Killer POAP for Web3? - with?Patricio Worthalter

POAPs are more than just NFT ticket stubs. They're a gateway to decentralised CRM. But why do so few brands use them properly? We cover why POAP only work with projects that could be considered 'collectibles', why 9dcc is doing the most exciting POAP activations, and find out which of us (at least 2) have been to North Korea... You can rewatch the live show?here, or listen below:

?? Roadmap of Guests - Upcoming Episodes:

???BWSTW:?Harry Halpin?(Nym Foundation),?Staci Warden?( Algorand Foundation ), Steve Cerveny & Sophia Lopez ( Kaleido )

???RCSTW:?ian rogers?( Ledger ),?Angelic Vendette?( Alo Yoga ),?Steve Nouri?(LinkedIn AI 'God', Hackmakers )

My LinkedIn Profile?(Go click the ?? icon and turn notifications on!)

Blockchain Won't Save the World Podcast

RightClickSaveTheWorld Podcast

5-Hour?Blockchain Growth Training?with Blockchain Training Alliance

30-Min?Short Course: Getting a Job in Web3?with LinkedIn Learning

And if you're wondering whether I'm proud of myself for jumping the gun in announcing my next big role in Web3 with teasers at the end of the last TWO Newsletters: I'm not.

So you guys will have to wait just a few more days to find out...