I just launched a web server on my computer (python -m SimpleHTTPServer) which anyone in the world can connect to. If I wanted to I could build an unmoderated Twitter or Reddit and foster a community maybe one day being the biggest in the world.
And if my current government decided to regulate me then I could move to a country that didn't.
Web3 seems to be much more about decentralised payments. Which is not really a problem many people are demanding a highly complex solution for.
Anyone could build such applications that they might hope become the biggest in the world, but there is still a conglomeration effect. You have centralization, but anyone can become the center. This is displayed by your "biggest in the world" winner takes all perspective. For decentralization, the graph of connectivity has to not have these large communities. There would be no single Twitter (unmoderated or otherwise) that is the biggest by far.
> Web3 seems to be much more about decentralised payments. Which is not really a problem many people are demanding a highly complex solution for.
Stripe being a $100B company contradicts this.
Payments and especially finance is a gigantic industry that is still mostly centralized but doesn't need to be. If we can make wealth flow as easy as data does today without any gatekeepers or middlemen that is a huge upgrade for the internet.
"Decentralized" doesn't mean "large companies don't exist."
There are hundreds of thousands of banks, but hundreds of crypto exchanges. Imagining crypto to be less centralized than traditional finance is deeply, deeply incorrect.
Having centralized aspects does not diminish the decentralized aspects. People spend over $10M/day in fees to use decentralized platforms and they had $250B in wealth in them.
It's only a matter of time before decentralized rails become the primary form of wealth transfer on the internet, because they are much more efficient and composable than current systems.
I literally work in decentralized finance, and so do now 20,000+ developers. Many of my financial transactions already happen in DeFi, and it's only a 2 year old industry.
Being confidently ignorant doesn't make you correct, it just makes you miss out on the future.
I just launched a web server on my computer (python -m SimpleHTTPServer) which anyone in the world can connect to. If I wanted to I could build an unmoderated Twitter or Reddit and foster a community maybe one day being the biggest in the world.
And if my current government decided to regulate me then I could move to a country that didn't.
Web3 seems to be much more about decentralised payments. Which is not really a problem many people are demanding a highly complex solution for.