3 Reasons Why Everyone Now Cares About Web3

Musk’s the new CEO.
Trump's tweets return.
And, investors strike gold, again.

Is this the future of Twitter and an example of what Web 2.0 has become?

With Elon Musk as the new owner of Twitter, and soon-to-be interim CEO, it’s just the tip of the iceberg that has people polarized about Web 2.0, and almost everything these days. 

Now 18 years old, Web 2.0 is comprised of centralized gatekeepers, aka Big Tech companies worth trillions, and is characterized by social networks, user-generated content, and cloud computing. Recently, privacy issues have been in the public eye causing multiple problems. However, big tech companies keep on getting bigger. To further prove this, Elon Musk promised investors part of the $46 billion Twitter buyout, returns up to 10x “if all goes well.” 

While Web3 offers its own set of challenges and needs to overcome an image problem that it's a big scam, here are three reasons why it’s important to care about Web3 now:

1. People want change. The winds of change are blowing strong. People around the world want real change after COVID-19, and not return to the Before Times of 2019.
   
   In fact, 86% want the world to become more sustainable and equitable, according to a poll conducted by the World Economic Forum.
   
   
2. People are more connected now than ever before. We are living in the most digitally connected chapter in history: about 63% of the world now has internet access and 58% use social media.
   
   Moreover, 90% of Americans said the internet was essential during the pandemic.
   
   
3. People believe the internet is dominated by big corporations. 84% of Americans polled by SurveyMonkey think that “large corporations and brands have too much influence on the internet.”
   
   BUT most Americans don’t know what Web3 is…yet.
   
   And, of those that do, MEN are 2x more likely than WOMEN to know what Web3 is. 

Photo by Andrea Piacquadio from Pexels

Whether you're driven by tech or a desire for change, or both, a world post-Web 2.0 continues to be a work in progress, open to participation.

In fact, the more people that participate, the more advances Web3 can make.

To summarize, Bob Metcalfe, 76, inventor of the Ethernet, recently spoke about “all kinds of network effects in Web3” which could unite us globally and provide new pathways to the future to make the world a better place.