And for the wrong reasons, too.

A long interview contains, among other things, a few paragraphs that summarize quite clearly the intrinsical limits of many talks and projects about the so-called “Web 3”, and the related decentralisation of online infrastructures and services. Here they are (emphasis mine), as proof that you should really read the whole thing:

" Web3 and decentralised finance, or DeFi, promise to nourish a grassroots movement of cyber-hackers that will decentralise ownership of the real economy. Yet, they often end up reinforcing market concentration and fuelling rampant speculation. That world is often ideologically resistant to regulation and poses risks to the wider financial system, with the $2.5tn-worth of crypto assets in circulation ending up in the hands of fewer (and more centralised) players than we think."

" What is being decentralised is the ability to extract value and make money, incentivising even further the financialisation of social behaviours. Worse, it seems that people pushing the Web3 agenda have learned very little from the experiences of all the other movements, from free software to Indymedia to the rise of digital democratic cities, that did try to build a more decentralised and democratic digital sphere."

Same old, same old

Above all…

“Web3 discourse accepts today’s status quo as a fact and moves on to discuss all these other aspects."

Or, in my own words: REAL innovation, where are you?