Web3 Was Supposed to Save the Internet. It Has a Long Way to Go.

[MuzzMelbourne]

Early this year when anything still seemed possible for technology companies, futurists and venture capitalists were enthralled with the idea of building a new internet. Web3, as it became known, was poised to recapture the 1990s promise of a decentralized internet, free from gatekeepers and trillion-dollar platforms.

Cryptocurrencies had the starring role in the Web3 dream. Crypto, in theory, could wrest control from giants like Meta Platforms (ticker: FB), Alphabet (GOOGL), Amazon.com (AMZN), and Apple (AAPL). It would shift our online activities to blockchains—handling everything from payments and trading to videogaming, social media, even real estate. It could also shift the economics to users, giving them financial incentives to govern and secure the networks.

Web3 Was Supposed to Save the Internet. It Has a Long Way to Go. — Barron's

Early this year when anything still seemed possible for technology companies, futurists and venture capitalists were enthralled with the idea of building a new internet. Web3, as it became known, was poised to recapture the 1990s promise of a decentralized internet, free from gatekeepers and...

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