Why it’s too early to get excited about Web3

This is a very important commentary from Tim O’Reilly on Web3 and its implications. Definitely worth a quick read and a long think.

https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/

Let’s focus on the parts of the Web3 vision that aren’t about easy riches, on solving hard problems in trust, identity, and decentralized finance. And above all, let’s focus on the interface between crypto and the real world that people live in, where, as Matthew Yglesias put it when talking about housing inequality, “a society becomes wealthy over time by accumulating a stock of long-lasting capital goods.” If, as Sal Delle Palme argues, Web3 heralds the birth of a new economic system, let’s make it one that increases true wealth—not just paper wealth for those lucky enough to get in early but actual life-changing goods and services that make life better for everyone.