I have spent the last six months researching and playing with “Web3”. You may have heard of Web3, NFTs, DeFi (Decentralized Finance), and of course, Crypto. Here is the snapshot of my current understanding, with a glossary.
Blockchain technology promised to reinvent everything from the first principles and it arrived at a conclusion that capitalism is the most efficient way to allocate resources
Oldschool Internet and Open Standards are under assault from big corporations. Blockchain can help.
Blockchain technology can be a powerful tool for governance. However, I think it’s more helpful as part of the current system, and not an alternative.