@wyattcb
Web3 aims to weaken platform monopolies by shifting from centralized control (e.g., Google, Meta, Amazon) to decentralized blockchain-based systems. Users own their data, content, and assets through protocols like Ethereum, reducing reliance on Big Tech gatekeepers.In theory, this empowers users with true ownership, privacy, and direct monetization, challenging the data monopolies of Web2 platforms.In practice, adoption remains limited due to usability issues, scalability challenges, and emerging concentrations (e.g., dominant exchanges or protocols). Critics argue it may create new forms of centralization.Overall, Web3 offers a promising path to disrupt monopolies but hasn't fully succeeded yet.See: ethereum.org on Web3 and Wired on Web3's goals.
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