Decentralization, DAOs and the current Web3 concerns
Decentralized autonomous organizations are a central function of interaction across the Web3 space, where creators are earning more than ever before. What we call Web3 will be centered on an ecosystem of technology products that are decentralized, based on blockchain networks, interoperable, and without a traditional trusted validator (such as corporations, institutions and government bodies). But exactly what does this mean? What is Web3?Web3, a term coined by Gavin Wood, Web3 Foundation president, is the next phase of the internet and, perhaps, of organizing society as a whole. Web1 was....
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Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel that discussed what decentralization brings to Web3 at DeData 2022. With the convenience of centralization seemingly threatening the original crypto vision, decentralization will still help escape a potential dystopian future, according to a panel discussion at the DeData Salon 2022 conference held in Berlin, Germany. Cointelegraph’s editor-in-chief Kristina Cornèr moderated a panel discussion dubbed “Shaping The Next Economic Era With Web3 Technology.” Panelists included Paul Claudius, the co-founder of DIA; Hoon Kim, the....
Decentralized autonomous organizations (DAOs) were supposed to be regulation-proof. Federal regulators now have targeted not just a DAO, but also its investors. Considerable anxiety exists in the world of Web3 related to regulation and the legal status of cryptocurrency projects. It’s particularly apparent in the United States, where the Commodity Futures Trading Commission (CFTC) fueled concerns in September with an announcement that it was imposing a $250,000 fine on a decentralized autonomous organization (DAO), Ooki DAO, and its investors. The fine was particularly ominous, considering....
Will 2022 be the year of DAOs? 2021 was certainly a blazing start. The blockchain-related explosive and disruptive innovations seem to come from a shared ontological hunger: that deeper side of the human being that urges us to fill in the void that makes us so different from other animals species. Spoiler alert: the void cannot be filled. But trying –creating, innovating, going against the system, etc– to make something with it is what keeps us moving, conscious, and alive. The opposite is to become purposeless zombies that do exactly everything they’re told to do. What You Should....
Former Twitter CEO Jack Dorsey has ignited a debate about web3 after Tesla CEO Elon Musk criticized it. Dorsey warned of the risks from centralization, emphasizing that web3 is owned by venture capitalists (VCs), hiding under the premise of decentralization. “I’m concerned to see ‘the industry’ be distracted under false pretenses when we could all be working on things that have a chance at fixing the real issues,” Dorsey wrote. Jack Dorsey Says Web3 Is Owned by VCs, Tells Elon Musk ‘It’s Somewhere Between A and Z’ Jack Dorsey and....
Decentralization of Web3 infrastructure is critical to its success as it gives us back the freedom that we are currently paying for using Web2. The transition from Web2 to Web3 is inevitable. Yet, as the demand for decentralization gains momentum, several important questions are being raised about the current state of blockchain technology and its promised “decentralization.”Vitalik Buterin responded with a confession that “a lot of it comes down to limited technical resources and funding. It’s easier to build things the lazy centralized way, and it takes serious effort to ‘do it right.’”....