Web 3.0 Paradox

 Web 3.0 is aimed at the decentralized Internet, but what happens shows that it can take users back

Web 2.0 now allows anyone to read, create content, and share information online, but the user's data is in the hands of major Internet firms such as Google, Facebook, Apple... As for Web 3.0, users take ownership, control of their own data, identity and destiny.

According to Forbes, despite always emphasizing user ownership, there is a paradox that investment funds soon poured millions of dollars into Web 3.0, showing that they are the real decision makers in the next generation. of the Internet. That is, power can still be in the hands of the few instead of "decentralized" as the slogan Web 3.0 is aiming for.

The best example of this paradox is that at the end of 2021, the world's largest NFT trading platform, Opensea, wanted to IPO but faced opposition from the community. Later, a decentralized organization called OpenDAO was established with the aim of promoting the development of NFT and supporting participants in the Opensea market.

OpenDAO then released the SOS token for free to the community. But the release fell into a speculative trap. The community questions who will actually regulate OpenDAO when 50% of the tokens are held by the project management team.

The DAO is a structure that represents the decentralized spirit and emerging crypto-economic system. In the DAO model, all token holders have the right to decide. But in reality, the "whales" holding many tokens still have a decisive voice. Thus, investors bring the Internet back to a model similar to Web 2.0 to optimize benefits. That's why billionaires Elon Musk and Jack Dorsey constantly criticize those who advocate building Web 3.0. Both argue that Web 3.0 is just a business gimmick.
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