While web 3.0 is an exciting opportunity to create a decentralized internet that is better than the existing, web3 is not simply a silver bullet solution for everything.

The first part isn’t entirely unfair; scams and ponzi schemes are everywhere, and it seems clear that we are in the middle of an ever-inflating bubble. It’s also the case that an entire set of legitimate use cases are in reality regulatory arbitrage; crypto advocates are far too quick to ascribe all of the issues with the current monetary system to... See more

The main use-case of web3 is speculation and money laundering. We’ve been promised much more, but at this point blockchain technology is over a decade old. It didn’t take web1 nearly this long to flourish after the browser and HTTP were invented. Shouldn’t more have happened by now?