Web3 and India: A Wrong Turn (Part 5)

Web3 – 2

Momentum Works has a couple of slides which shows the simplified history of the Web through its three evolutions:

a16z’s May 2022 report on the state of crypto shows the evolution:

The three key points it makes about Web3:

  • Web3 gives people property rights: the ability to own a piece of the internet
  • Web3 aligns network participants to work together toward a common goal — the growth of the network
  • Web3 empowers a collective owned future over a corporate or government owned future

It offers the following view on the future:

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Rajesh Jain

An Entrepreneur based in Mumbai, India.