The buzz-term Web3 is trending quickly. The current reality of Web3 is this— most people have absolutely no idea what it means; large corporations and political institutions are playing Public Relations games with the term; and technical people are having a terrible time defining it.

We are in limbo somewhere between “wtf is Web3?” and “let’s make sure we both have the same definition of Web3…” I’ve been stumped by both the former and the latter. 

… There are large corporate, institutional, and political players trying to co-opt the term Web3. Management consulting firms like McKenzie and Deloitte need a new term that can be synonymous with the next wave of Internet innovation consulting services. 

… On the surface, the ambiguity and lack of consensus around Web3 are all a bit silly. However, beneath the surface of the non-specific, insecure, and postural Web3 narratives lies a fascinating set of concepts and innovations that are 1) exposing a new ‘access layer’ of distributed Internet-based applications, and 2) growing into an absolutely dissonant threat to the dominant order of our existing monolithic financial and political institutions. Read More