My first impressions of web3

Moxie Marlinspike (of Signal fame) explains his impressions of web3, and why it's a grift.

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Moxie Marlinspike, the founder of Signal, wrote up his first impressions of web3, the cryptocurrency-backed, decentralised vision for the future of the Internet, and it's a great read.

A lot of fantastic points hereā€”from the over-commodification of non-commodities, to the hollowness of the we're changing the world messaging, to the centralisation of wealth in the hands of just a few platforms.

I get that a lot of the impetus behind web3 and cryptocurrencies comes from people who have felt like comprehensively shafted by existing institutions, and I get that there's a lot of money to be made here, but the assumptions you need to make to get on board with web3 are just too shaky for me to get behind.

Further reading: Robin Sloan on web3




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