For years, I’ve watched technology reshape our lives, but there’s something different about Web3. I’m sure you’ve heard its promises to revolutionize the internet as we know it. Yes, it could fundamentally change how power, control, and trust are distributed online. But as I dug deeper into this world, I couldn’t shake off a critical question: Is Web3 really going to empower us, or are we just swapping one set of gatekeepers for another?
This question drove me to write What World Are We Creating? The Impact of Web3 on Society and Well-Being. I’ve spent the past two years researching, interviewing, and writing—trying to understand the true implications of Web3 on our society. My journey began with the Cryptobeyer Newsletter, where I share my insights week after week, and I found myself both fascinated and concerned by what I uncovered.
Web3, in essence, is about decentralization, breaking down the power structures that have allowed a few tech giants to dominate the internet. Imagine a digital world where users control their own data, where transactions happen directly between people, and where organizations are run by communities instead of Zuckerberg… It’s an appealing vision of a fairer, more democratic digital space.
But here’s where my skepticism kicks in: Who’s really in control in this brave new world? As I explored the complexities of Decentralized Autonomous Organizations (DAOs) and blockchain networks, I realized that the same issues of power and inequality can creep back in. Those who control the “code”—the developers and early adopters—can become the new digital gatekeepers. If we’re not careful, Web3 might replicate the very power structures it’s supposed to dismantle, just dressed in a different set of algorithms.
Don’t get me wrong, there’s immense potential in Web3. In the book, I dive into real-world examples where blockchain is already being used to address big challenges, from improving financial inclusion to creating transparent supply chains in healthcare. These innovations can make a substantial difference, but they also need to be accessible to everyone, not just the tech-savvy few.
What concerns me most is that we might get so caught up in the hype of decentralization that we forget to ask the tough questions: Who’s benefiting? Who’s being left behind? And are we building technology that genuinely serves society, or are we letting technology drive society in a direction we didn’t intend?
I believe in Web3’s potential, but I’m not blind to its pitfalls. That’s why I wrote What World Are We Creating?, to look beyond the hype and grapple with the real issues at stake. I want readers—whether they’re tech enthusiasts, policymakers, or just curious about where the internet is headed—to understand that the future of Web3 isn’t set in stone. The choices we make today will shape the digital society we leave for future generations.
So, will Web3 bring about a more equitable internet? Or will it just give rise to new digital elites? A technocracy. I’m not here to give definitive answers. But I hope this book will prompt us all to think critically, to question, and to demand more from the technologies that are shaping our world.