Decentralized Society: Finding Web3's Soul

Core to the tenets of web3 are the notion of self-sovereignty through cryptography, the ability to organize into global communities that resonate with our tailored values and interests, and the redistribution of network value back to users through incentivized participation.

In web3 social, users own their identity, data, and the content they create for apps and protocols. Web3 social is a springboard into the world of DAOs (Distributed Autonomous Organizations), platformless social networks. Finally, it’s a new era for social media where users own the networks and protocols and create positive externalities for non-us... See more

But decentralizing the internet has been hard to do. When contrasted against the well-established efficiency and stability of centralized systems, decentralized systems have struggled to keep pace. Now, however, the emerging technology of crypto and web3 — specifically, programmable blockchains, composable smart contracts, and digital assets — make... See more

Web3 will replace centralized platforms with open protocols and decentralized, community-run networks, combining the open infrastructure of web1 with the public participation of web2.

Since social platforms built on Web3 will adopt the principles of decentralization and privacy enabled by blockchain, people who are involved in this space have found creative ways to build a digital identity that demonstrates an alignment with those principles 

Web3 platforms also have the potential to unlock a novel and especially powerful form of network effect through community engagement and social cohesion. 

The core ethos of web3 is:1) taking away the middle-man by enabling true peer-to-peer social and transactional relationships and2) rewarding people based on their actual contributions, both financially and through social recognition.

In Web3, instead of platforms having full control of the underlying data, users typically own whatever content they have created (such as posts or videos), as well as digital objects they have purchased.