I had a vague idea that web3 was at the core of a new Scenius when I started researching this piece, but what I didn’t appreciate is that web3 seems to be a toolkit for conjuring Scenius. More than financial speculation, web3 offers a set of tools that can align incentives in ways that allow groups to tap into their communal genius.

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 —... See more