Cautionary Tales from Cryptoland Thomas Stackpole interviews Web3 skeptic Molly White, author of the blog Web 3 is going just…
Cautionary Tales from Cryptoland
Thomas Stackpole interviews Web3 skeptic Molly White, author of the blog Web 3 is going just great.
White:
The ideological argument for Web3 is very compelling, and I personally hold many of the same ideals. I strongly believe in working toward a more equitable and accessible financial system, creating a fairer distribution of wealth in society, supporting artists and creators, ensuring privacy and control over one’s data, and democratizing access to the web. These are all things you will hear Web3 projects claiming to try to solve.
I just don’t think that creating technologies based around cryptocurrencies and blockchains is the solution to these problems. These technologies build up financial barriers; they don’t knock them down. They seek to introduce a layer of financialization to everything we do that I feel is, in many ways, worse than the existing systems they seek to replace. These are social and societal issues, not technological ones, and the solutions will be found in societal and political change.