What Is Web3?

by Thomas Stackpole

May 10, 2022

Summary.   
Web3 is being touted as the future of the internet. The vision for this new, blockchain-based web includes cryptocurrencies, NFTs, DAOs,...more
Do you remember the first time you heard about Bitcoin? Maybe it was a faint buzz about a new technology that would change everything. Perhaps you felt a tingle of FOMO as the folks who got in early suddenly amassed a small fortune — even if it wasn’t clear what the “money” could legitimately be spent on (really expensive pizza?). Maybe you just wondered whether your company should be working on a crypto strategy in case it did take off in your industry, even if you didn’t really care one way about it or the other.

Most likely, soon after Bitcoin came to your attention — whenever that may have been — there was a crash. Every year or two, bitcoin’s value has tanked. Each time it does, skeptics rush to dismiss it as dead, railing that it was always a scam for nerds and crooks and was nothing more than a fringe curiosity pushed by techno-libertarians and people who hate banks. Bitcoin never had a future alongside real tech companies, they’d contend, and then they’d forget about it and move on with their lives.
And, of course, it would come back.