Since the very beginning, I was very skeptical about the whole Blockchain and new Web 3.0 hype. At first, I didn’t say anything because I thought I was lacking some knowledge and did — so I decided to play with the topic a little. I invested in some crypto, read about the decentralization they all talked about, looked at the NFT market, and after some time I…
Didn’t change my mind.
Everything seemed like a joke to me. Are people really believe in it? Do they really invest their life savings into it?
Why do I think we got it wrong?
Decentralization was a very strong and promising selling point. But after a while it hit me. So everybody can be a part of the NETWORK. I can be a part of the NETWORK. Right? All I need to do is to provide a server. Eazy! But do I want to support it for life? Probably not.
In the Crypto world, there is a person called the Whale. An individual who has so many tokens that can destabilize the whole market.
I am mentioning that when talking about decentralization because if I ran out of money there's always some company with endless supplies of greens that can buy the server from me.
Next, NFTs were shady from the beginning. Even becoming a meme on their glory days.
I think we created a solution to a problem we wanted to have, but gladly everything is going back to normal.
I will just mention the absurdity of the gas fees that were present in every transaction, but that’s it.
WEB3.0 hype ended with a recent STX crash and I can’t be happier about it.
Although, I am giving the credit when credit is due. There are two applications where Blockchain and (part) of Web 3.0 can shine.
- Unified login (if simplified)
The current problem
We, as people, like new shiny things. We had Web 3.0 now we have ChatGPT, GPT-4, etc. And still… we are forgetting the basics —…