Web2 Is Scary, Not Web3.

Web2 Is Scary, Not Web3.

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Have you ever heard of Web3?

If not, this should give you a brief introduction into why you need to begin to learn about this technology and how it will apply to your life. While Web3 does include many elements like NFTs (Non-Fungible Tokens), Crypto (digital currency like Ethereum and Bitcoin), and DAOs (Decentralized Autonomous Organization is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community) we will only be focusing on the larger goal of Web3, decentralization.  

What is Web3? Web3 as defined by Wired is

“At the most basic level, Web3 refers to a decentralized online ecosystem based on the blockchain. Platforms and apps built on Web3 won’t be owned by a central gatekeeper, but rather by users, who will earn their ownership stake by helping to develop and maintain those services.” 

For those who don’t really understand web3 it is important to know that the key to all the elements of web3 is just decentralization. Instead of a company like Instagram owning all your data without paying you for your contributions to their platform, you will benefit from web3 companies by being a larger part of the financial and product growth. In web3 users of a company basically have ownership in the product and will guide the company to new advancements.  

Why does Web3 matter?

It gives more equality and equity to users and stops corporate abuse for financial gains. Web3 gives equity to the users as it can only grow with their help. Web3 gives equality to the users as all are seen as equals. 

Companies like Meta*, formerly Facebook, which is a web2 company, will not exist in decentralized web3. They are a company that has used user data and content to expand their revenue and abuse users for their own gain. As reported by CBS News

“The complaints say Facebook's own research shows that it amplifies hate, misinformation and political unrest—but the company hides what it knows. One complaint alleges that Facebook's Instagram harms teenage girls.” Frances said “The thing I saw at Facebook over and over again was there were conflicts of interest between what was good for the public and what was good for Facebook. And Facebook, over and over again, chose to optimize for its own interests, like making more money.” 

Web3 has the power to stop corporate abuse of users both financially and mentally. Until Web3, users didn’t have another free option for building community and connecting with new and old friends. Now we have a better option for our brand growth and communities. 

*CLARIFICATION: Meta, formerly Facebook, is entering a Web3 element called the metaverse. While this is a web3 element Meta is still very focused on centralized power through prioritizing profits > people and NOT decentralization. Meta are selling opportunities for people to enter their metaverse.

This is not decentralized and everything you build in their metaverse will still be owned and subjected to Meta's rules present and future. This is the same exact model using a different platform and rebranded due to their past abuse of users and data. However now instead of tracking, analyzing and selling your data they will have your actual bodily movements to target and sell your habits to other people in more efficient ways.

Do not trust companies that abuse your data to simply “do the right thing” in web3 since they already have a disturbing track record of only doing what benefits the company. Their goal is to get users to rely on their platforms for digital and emotional connections; and to maximize their growth and profits by any and every means available, including at the expense of the mental or emotional wellbeing of their customers.