I am a total cryptocurrency skeptic and critic. But.
If there's one thing you can bank on, it's capitalism seeking a) efficiency (defined by its own metric of profit), b) to penetrate new markets, c) to do more of this faster, with as few costs and obligations and possible. It pushes the boundaries of what's acceptable and feasible to make that happen.
I don't think "web3" in its current form fulfills much of this. But it's probably the harbinger of something that does.
Not saying this is a good thing. It should probably be stopped. That will be hard.
I think most Web3 shills fall into one of two buckets:
1. People treating it like a Ponzi and are just trying to avoid holding the bag.
2. Non-technical people that have no idea that databases have existed for decades.
All it takes is a basic rudimentary analysis of most Web3 "solutions" to determine that they're entirely overengineered and unnecessary. Everything about Web3 is a solution in search of a problem.
I don't disagree. But I think the broader "success" of it is a portent of something bigger. Enthusiasm by a #3 you never mentioned: powerful financial interests (legitimate and illegitimate) who want to move capital outside the explicit view or mgmt of the state.
In any case, every time I get a recruiter pinging me about some "crypto" job I almost want to respond with "Not interested. But do you have any jobs that are actively working to suppress crypto?"
I don't like working for government, but man I'd almost take pleasure in working for an entity doing forensics to trace illegal transactions through the blockchain.
If there's one thing you can bank on, it's capitalism seeking a) efficiency (defined by its own metric of profit), b) to penetrate new markets, c) to do more of this faster, with as few costs and obligations and possible. It pushes the boundaries of what's acceptable and feasible to make that happen.
I don't think "web3" in its current form fulfills much of this. But it's probably the harbinger of something that does.
Not saying this is a good thing. It should probably be stopped. That will be hard.