Web3 Will Fail Because You Can’t Solve Politics With Technology
The web sucks. A handful of companies control most of the hours we spend online, and those giants with their economies of scale seem to be able to crush all up-and-coming challengers. Web 2.0, the dream of social, user-generated content, turns out to be ruled by mustache-twirling app store landlords and shadowy social-media secret police.
It’s time to blow it all up, say the proponents of Web3, a decentralized system based on direct peer-to-peer interaction. Using a public blockchain ledger, micro-transactions, and “decentralized autonomous organizations” that work like auto-tallied democracies, Web3 will bring opportunity back to the little guy, its