...trying heroically on a podcast to explain why putting one’s house “on the blockchain” might be better than the current system. Eventually, after much grasping and a bit of “these things could all be NFTs,” McCormick ended up more or less where he began. “You’ve just re-created the entire mortgage infrastructure that already exists today,” a host... See more

Moreover, in web3, users realistically cannot audit every smart contract, so the burden of ensuring that an app is secure and trustworthy on behalf of your users is higher in web3 given what is at stake in each interaction.

Ezra: Even if that's true, if Bitcoin were made by someone who had control over it, if the ownership structure were different, they would try to change that sooner.

Some claim web3 is about ownership, but it is more appropriate to say that web3 is about wealth. Very little in the web3 advocacy space addresses how it will match Web 1.0 and 2.0’s successes in terms of discoverability and sharing. It offers little by way of guarantee that it will protect its users' digital rights, in some cases making them much w... See more