Web3 relies on participatory economics, and that is what is missing — Participation -Breaking
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Web3 has been hailed by many as the technology paradigm that is powered by the creator economy. It is the next generation of the internet. We can draw evolutionary parallels between Web2 and the technology which underpins everything, from information consumption and content creation. Web2 was a major era of human evolution, allowing us to see new ways to work and consumer information, and enabling progress in our civilisation. Web2’s enormous success, why do we need Web3?
As we rethink the internet, which relies primarily on a few centralized entities that have devices, channels of information that feeds the social media, mobile apps and provides connectivity points between service providers and seekers of these services, the control over these channels provides the custodian of this infrastructure not only monopolistic control but also a “too big to fail” economic choke point. The fundamental change in how we think about the internet (which was initially designed to transmit information but has transformed into an economic platform that moves value and truth) is to empower creators as well as participants.
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