Vitalik muses on why Web3 has become so toxic

Calls for more cooperation rather than competition

Calls for more projects to focus on utility rather than “number go up” greater-fool specilative economics

Here is our proposal outlining what we think will majorly clean up the space — and let’s start giving it a new name: Web5

If the crypto space doesn’t get its act together, start cooperating and enabling mainstream adoption, then we will soon be living in a world of central bank digital currencies, large corporations controlling our private transactions the way they control our private interactions online, and draconian regulations restricting anything different or innovative.


Loving this content…watching the video inside of the pdf…will chime in when I’m done.

The crypto space hasn’t panned out how i expected it to when i got involved back in 16/17. Utility and fundamentals for solving real world problems have been pushed to the side for memes and chart analysis. It’s became so tribal with communities arguing with each other as to who’s coin is the best much like how sports fans go on. Though I feel like the time of utility is fast approaching, theres something like 16k coins now i believe, 99% of which are useless or clones and will disappear. Projects like intercoin that are improving peoples lives or streamlining business will survive, but yes we need to work together to ensure this technology is to be used for good.