Web3's Mythical

Is a completely independent, decentralized internet really possible?

It's time for a new internet and a new way of life. Advocates of "Web3" make this dazzling promise. This group's terminology may be a little cryptic, but their goal is obvious. On the ground and in the virtual world, they want to overthrow "arbitrary authority." A decentralized internet will allow them to create a decentralized society.

Web3 is the subject of a massive influx of cash from VC firms. Even if they're in it for the money, they nevertheless profess some true principles. In their view, we may eliminate all power in the world and leave each person free to choose his or her own fate.

As formerly considered as a place for exploration and independence, the internet is now mostly controlled by large companies. Amazon, Google, and Facebook all provide their customers with a wealth of useful features. In addition, they promote censorship, monitoring, and social control. All of them are bureaucracies, just like the government entities with which they collaborate.

A key goal of Web3 is to bring together the decentralization and independence of the early days of the internet (Web1) with the depth of experience and simplicity of use made possible by the advent of huge platforms (Web2). A libertarian future may be attainable if this project succeeds. There may be additional government organizations that are made obsolete by new technology if the Federal Reserve is replaced by Bitcoin.

The anti-establishment movement has always held suspicion of the government in high regard. Edward Snowden's disclosures regarding government spying in 2014 were cited by Gavin Wood, the creator of the Web3 Foundation, as an example of "big companies and governments habitually attempting to extend and overstep their jurisdiction." It's not only for security that Web3 is against centralization. Individual liberty is put at jeopardy because of the way power is portrayed.

Decentralized and fair internet where individuals own their own data, identity, and destiny is the goal of the Web3 Foundation. Anthony Kennedy famously commended "the ability to establish one's own sense of existence, of meaning of the world, and of the mystique of human life" when he spoke about the importance of individual freedom. It's a common theme in American pop culture and politics: the desire for individuality and self-determination.

There's a lot to despise about the people who hold power in our society. Unaccountable companies that freely engage in censorship rule the internet. These businesses aren't just individuals acting on their own. There are instances when their actions are dictated by officialdom and they are tasked with smearing as "misinformation" legitimate political dissension. On the Internet, things are just as bad. Public health authorities have never seemed more obnoxious or inept as they do now.

Web3's claims, despite this, are not without flaw. For her part, Moxie Marlinspike, creator of Signal, an encrypted messaging software, sought to learn more about Web3's protocols in order to create multiple digital goods that, in contrast to Web2, are theoretically available to everyone. These systems are designed in such a way that users never have to depend on or be subject to any third-party organization.

Revealing is Marlinspike's account of what transpired. Although Web3's declared purpose is to get beyond platforms, he discovered that its products are already being managed by centralized platforms. Even if Web3 has failed to realize its full potential, this isn't the only reason. Platforms managed by a central authority may be readily improved, however distributed protocols are very difficult to alter. What we've learned is that having one strong central authority may be really beneficial.

In addition, Web3's independent vision is founded on the concept of linking autonomous servers. Few individuals, on the other hand, are interested in managing their own servers. Many people, including those who claim to support decentralization, are unable to endure the expenses of implementation.

Venture cash will continue to stream into Web3 initiatives, and some of the firms will undoubtedly find a way to profit on their investments. Nevertheless, the more extreme promises made by Web3 enthusiasts will not come to fruition." Decentralized and autonomous services will be promoted by successful firms, although these services will be rather traditional and centralized.

As a result, Web3 will serve as the ideal economic embodiment of the current ideologies that govern the world. Today's America is ripe with opportunities for companies that make lofty claims about their independence while offering little more than the status quo. As of today, everyone agrees that you should be allowed to establish your own notion of life. We know this for a fact since the Supreme Court, advertising professionals, and even our own parents and teachers have all told us as much.

Follow us on Google News

Filed under

Recent Search