Gavin Wood, the founder of Parity Technologies, a Polkadot developer and a co-founder of Ethereum, shares his thoughts on what is wrong with the existing Internet and why we need to move to Web 3.0
September 5, Gavin Wood published Why We Need Web 3.0 on BREAKER. In this article, Wood explains the extremely centralized structure that is our today’s Internet. Nevertheless, as an ardent proponent of blockchain technologies, Wood is highly optimistic about the future.
What is wrong with today’s Internet?
Wood starts by admitting that, though a great deal of efforts have been and are being put into Ethereum and similar projects, they still are largely underdeveloped, and humanity has yet a lot to overcome on its way to decentralization. But Wood does not feel discouraged, as the truth remains the same: centralization is not the way to go.
The programmer then explains that the Internet, liberating and fresh at first, has become corrupted by human greed. Social injustice has found its way into the digital space and warped it. Now, as was in the pre-Internet era, we still need to appeal to the powers that be to interact via the Internet. As such, Facebook relays our messages to friends and PayPal approves our payments.
These corporations are not necessarily evil, clarifies Wood, but they only do what brings them money. And if something can disrupt this order of things, they will readily cut it out of the system.
True meaning of ‘Digital Age’?
Web 3.0., Wood assures, empowers people to act for themselves. Web 3.0. may look the same but it will change everything underneath. Thanks to inter-chain blockchain protocols like Polkadot, the combination of different technological aspects of human activity will form ‘a single economy and movement’.
With Web 3.0. we will not need to appeal to an authority to prove who we are or to a bank to confirm our payments. Our identities will be represented by our wallets and keys. Web 3.0 will foster new business models and markets, and destroy monopolies like Google and Facebook.
Web 3.0 will, Wood is confident, put an end to the top-down structure that is so present in every aspect of human dealings.