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Web3

from The Wall Street Journal

Jack Dorsey and the Unlikely Revolutionaries Who Want to Reboot the Internet

Members of the tech elite are banding together to bring the Web back to its idealist origins. They call their vision ‘Web3.’

By Christopher Mims

Former Twitter Chief Executive Jack Dorsey is now into cryptocurrency. PHOTO: COLE BURSTON/BLOOMBERG NEWS

The internet hasn’t turned out the way it was supposed to.

In its earliest incarnation, before some Wall Street Journal readers were born and the rest had fewer automatically renewing digital subscriptions, it was supposed to be distributed, user-controlled and, in a word, democratic.

Then came Big Tech and the attendant centralization, windfall profits, culture wars, misinformation campaigns, Congressional hearings, EU rulings, antitrust battles and techno-nationalism that have characterized the past decade.

What if there was another way?

What if, to take but one example, users of social networks collectively owned them, or at least could vote on how they were run and what kind of speech they allowed? And what if similar questions could be asked of just about any tech company whose primary product is software and services—whether financial, cloud computing, or even entertainment-related?

[ click to continue reading at WSJ ]

Posted on December 18, 2021 by Editor

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