Web 3.0 and the Future of Trust

The technology behind OpenSea is not quite “OpenSea keeps a list, in Excel, of who owns which NFTs.” The underlying list is kept on the blockchain; it’s just that OpenSea can modify its version of the list however it wants, and its modifications are in practice pretty binding. And in fact there are regular rounds of stories in which (1) some gullib... See more

The other appealing thing about DAOs — and what makes them superior to the web2 model I discussed above — is they remove the misalignment between the company and the network by eliminating the company altogether and shifting the economic and governance rights to the network... We like to say instead of “don’t be evil” it’s “can’t be evil.” Instead ... See more

Crypto has one feature that has never existed before - trust. - Ben Horowitz

DAOs are open and permissionless, but still need new ways of determining who to trust, collaborate with, and reward.