@bfg

Do crypto and web3 mean anything anymore? “Crypto” and “web3” labels tell me very little about what a product actually stands for. They’ve become umbrella terms for wildly different things built using blockchain technology without keeping initial ideological promises. Does crypto guarantee decentralisation? No. Does it guarantee privacy? No. Does it guarantee self-custody or sovereignty? No. Yet we still use these labels as if they tell us what users are getting. Increasingly, blockchain is becoming underlying infrastructure. Like AWS, Google Cloud or HTTPS, people don’t need to understand it to benefit from it. They care about what it lets them do. That can be viewed as progress. But it mostly lost the promise of decentralisation, self-custody and sovereignty... 👇

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