AUSTIN, Texas — Web3 isn’t dead, but it will need a makeover to achieve mass adoption, Salesforce Innovation Lead Marc Mathieu said on stage at the Consensus 2023 festival.
Countless internet think pieces have eulogized the metaverse and the larger concept of Web3, once championed by tech powerhouses such as Meta Platforms and Nvidia following the onset of the crypto market downturn. But Web3 could make a comeback, Mathieu said, if the people building it focus on creating a community around decentralization and other values important to young people who will ultimately populate these experiences.
“Decentralization of the internet for the people [and] by the people … is one of the key elements that needs to be part of the reinvention of the reboot of Web3, " said Mathieu. “It’s going to come back because it fundamentally is not just a technology but corresponds to the values of the new generation.”
Read full coverage of Consensus 2023 here.
The values of Web3 are generally understood to be the promotion of decentralization, transparency and self-sovereignty. But those values won’t be the only driver of the mass adoption of the internet’s next iteration, according to Mathieu: The movement must also adopt a business model that responds to the needs of the next generation of internet users. Citing the landmark release of the iPod, which put 1,000 songs in your pocket, Mathieu alluded to Web3 still needing its killer app.
“The iPod was not a huge technological innovation, but it was a user interface [and] business model innovation, and it was also a communication innovation,” said Mathieu. “It gave birth the way we live with mobile and web technology today. That's what we are still missing.”
Edited by Pete Pachal.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, WJB is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. WJB is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain WJB employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. WJB journalists are not allowed to purchase stock outright in DCG.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/dcfcc5f4-a693-418d-a529-bb8e772f39d1.png)
Elizabeth Napolitano
Elizabeth Napolitano is a news reporter at WJB.
Follow @LizKNapolitano on Twitter
Elizabeth Napolitano
Elizabeth Napolitano is a news reporter at WJB.
Follow @LizKNapolitano on Twitter
source:coindesk
Polkadot was launched in May 2020. In a market dominated by Bitcoin and Ethereum, it quickly established itself as the next generation blockchain. The scale and interoperability problems limit Bitcoin's ability to transfer value without the assistance of
For some newcomers to the currency circle, they are not familiar with the investment in the currency circle, and their understanding of the special currency is not very deep. Therefore, they may be at a loss in the choice of investment methods. Many inves
Lummis is a well-known crypto advocate on Capitol Hill with over $100,000 in crypto.
Several analysts argue that shrimp accumulation is good for the Bitcoin network because it makes the asset more decentralized over time.
ARK Invest filed for a spot Bitcoin ETF in collaboration with 21Shares long before BlackRock did, and its application is reportedly first in line for the SEC’s approval.
Interestingly, the price surge was on the back of increased activity from whales, as indicated by on-chain data. The increased activity led to an increased"/>
Recent market dynamics have seen Solana struggling to break above the $200 mark. A notable bearish factor among these market fundamentals is the recent"/>
DOGE, the internet's favorite memecoin, is back in the spotlight. Recent data reveals a surge in futures market activity, coupled with bullish technical"/>
The recent stratospheric rise of Bitcoin, reaching a new all-time high of $73,000, has sent ripples of excitement and trepidation through the crypto world."/>
Co-founder of Tornado Cash Roman Storm has filed a motion to dismiss the charges levied against him by the US Department of Justice (DOJ)."/>
On Thursday, March 28, a hack occurred on Prisma Finance, a decentralized lending protocol on the Ethereum network. The exploiter carted away about 3,257.7"/>
Once fully licensed in Dubai, Bybit plans to run a full-scope exchange, offering crypto lending, payments, investment and other services.
Tue, 18 Apr 2023