Web3 (also known as Web 3.0 is an idea for a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics. Some technologists and journalists have contrasted it with Web 2.0, wherein they say data and content are centralized in a small group of companies sometimes referred to as “Big Tech”. The term “Web3” was coined in 2014 by Ethereum co-founder Gavin Wood, and the idea gained interest in 2021 from cryptocurrency enthusiasts, large technology companies, and venture capital firms.
I have my doubts about “decentralization.” Big money can co-opt just about everything. After the initial euphoria with blogs able to take on the mainstream media [an early effort to “decentralize” ] we have seen how social media was able to sideline many if not most blogs. Every media owner thinks he has a god given right to allow only ‘proper speech.’
My option is to try to play the hand we have been dealt as best I can in my own interest. If I seem cynical at times is because I simply do not trust Big Brother, any Big Brother, Left, Right, or Center. With Musk I hope he lives up to his promise to be a free speech fanatic. The establishment is capable of crushing most rebels.
My pleasure!
The Captain