Web3 Is Bullshit

Web3 Is Bullshit

If you’ve attempted to understand the flurry of interest in the concept of Web3 (or the metaverse or, more correctly, an amalgam of cryptocurrency speculation, failed VR projects, and greed) you’ve most likely come away confused. That is by design.?

Web3 is, at its core the idea that the web must be decentralized. This means no single organization - be it a government, Microsoft, or Elon Musk’s brain in a jar - must have control of the free transfer of information. In practice, this means that we all hold our own keys, and creators buy and sell their own digital products and run, in some cases, their own currencies.?

Why would we want this?

The easiest way to picture a Web3 interaction is to imagine a highway full of self-driving Teslas (or, more likely, Hondas once Tesla goes out of business in the next decade). These cars will communicate with each other via a wireless network and if you’re in a particular hurry you can send a token to the cars in front of you so they’ll get out of your way. You can also “buy” the road for a spell, paying off everyone in your way so you can get to your movie showing or catch your flight. This sort of mercenary financial transaction, one steeped in Randian selfishness, is the cryptohead’s decentralized dream.

Read the rest here...

Joseph Panetta

Make brands stand out | Others say: ‘Creative | Innovative | Quick Study | Fresh Thinker | Holistic Strategist | Delivers Results Beyond Your Goals’

2 年

I. Need. This. Stamp!!!

要查看或添加评论,请登录

John Biggs的更多文章

  • What happens when you write 11,000 blog posts?

    What happens when you write 11,000 blog posts?

    I’ve been thinking a lot about the modern influencer and how media is changing under them so I wanted to resurface this…

    5 条评论
  • Tech, Crunched: How the go-to site for startup news lost its way

    Tech, Crunched: How the go-to site for startup news lost its way

    In early 2005, Michael Arrington, a lawyer, and Keith Teare, an entrepreneur, started a fund called Archimedes…

    7 条评论
  • A Visit From St. Startup

    A Visit From St. Startup

    'Twas the night before Christmas, when all through VS Code Not a hacker was noodling, not even in Node; The term sheets…

  • Depression for Founders

    Depression for Founders

    When you’re building, you’re going to face failure. It’s inevitable.

  • Midnight In a Perfect World

    Midnight In a Perfect World

    For the last decade, I haven’t been able to tell the future. This is a weird thing to say, I know, but after the…

  • I'm a failure

    I'm a failure

    I’m pretty much an abject failure. I’ve failed at building two startups, failed at a major book deal, and failed in the…

    1 条评论
  • The business of journalism is dying

    The business of journalism is dying

    Journalism, as a business, is dying. According to Glassdoor, the average journalist makes between $40,000 and $120,000.

    1 条评论
  • What is a pitch deck?

    What is a pitch deck?

  • Introducing For Founders Press

    Introducing For Founders Press

    I’ve been working on an idea that I think you might like. I’m creating a series of 25,000-word books for founders.

  • Inside a Web3 grift factory

    Inside a Web3 grift factory

    This is from my newsletter, Startup Strategies. If you like it, please subscribe.

    1 条评论

社区洞察

其他会员也浏览了